Monday, January 7, 2013

Jan 7. Running Notes.

/tf  872.30  down .17% premarket.

AAPL  -1%
BAC up 1.8% on news

Europe looks weak.

DDD +3.7%  -- big story stock for 2012 and now 2013 continues.

Thinking 2013 winning sectors will be new ones -- maybe mortgage servicing, and possibly nat. gas names. 

/gc falling back down.

Using the gap open as 0.00% from the start of the year on /tf -- fib target for pullback 1 would be 867.70.  This is also the low of the day for last Thurs. so very strong target if sellers gain control.

PPHM -- +31% Noticed this on stocktwits.  Whatever.  Playing stocks under $2 is a good way to never get to CP.  

/tf 872 -- this is a  'value' area so hard to really take action here -- will likely chop back and forth especially on low vol. 

/tf  871.5 -- looks like a dip at the open

9;26:   setting up for weak open   -- not horrific... but pullback.  IWM has a huge gap to fill extended.  Tough tough tough to hold longs up here.  Massive paper gains for so many.

VVUS  +10% on news.  

-1000 advn-decn -- strong selling   but /tf  rising off open -- odd.

heavy advn-decn --   AAPL 517 -- buyers still hoping here... but sellers in control.

VIX  +4%

/tf --  SLOPPY CHOPPY.   if you can't see it -- don't do anything.

advn-decn improving,   /zb at lows --  grinding up again... but really weak overall.

nat gas names --  excellent, along with coal.  

/tf  sloppy  -- rangebound.

easy to get "bored" today and take a piss poor trade to "do something".

IWM -- mostly just a run to fill the opening gap down....   that might have been the top... but may not go anywhere today....

nat gas / coal so strong.... could support  IWM.  

/tf -- flopping over  11 am.  looking for bottom of range -- retest lows.  

WLT  +6%   coals rocking.

it's pretty clear today is not going to provide much reward or be 'easy'.

in a slow, rangebound market -- the way to win is to get responsive and look for a gravestone doji and take a chance.  this opportunity came at 10:34 am.  I noticed it real time but I did not act on it.   /tf just touched 872 which is a fib level and I would think that would be the place to responsively cover instead of waiting for more downside.

/tf  rainbow intraday.... coming soon.

/tf -- down TL broken 12:16   to 872...

advn-decn  -650
/zb is green...

Sellers stronger.   All major sectors red.  

pipelines, coal --  this is the place to be in 2013 so far.

advn-decn  -700  and push toward the double bottom again....   market really soft...  I expect it to break through to downside soon.    Still distributing.  

Nat gas names like DVN also reversing.

biotechs:  incy, sgen, amrn, celg   pcyc ---   another strong area.

trying not to fall asleep here...

caught 15 ticks on the midday break - was almost a perfect trade --- now back to 872 area.

so far buying the TL breaks -- 5/34 x-over mostly -- paid -- as usual -- going with the flow after a consolidation.

advn-decn - 363
vix  -.72%

/tf  just about unchanged....     inside day.   Nonetheless -- there was really 3 good opportunities today if you traded perfectly.

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