Thursday, May 27, 2010

Buy signals today

Huge up day, didnt think the SnP was gonna break and close above 1100 for awhile but it sure did. some resistance at 1105, then 1125 - 1140, then 1170. It has completed a 50% bounce so far. 61.8% is 1118.
Lots of buy signals today but quite a few are showing long term bear trend therefore not taken:

IT (bought today)
FAA (L/t red - not taken)
WLT (l/t too red)
JAS
SKS
CMCSA
MJN
LCAPA
TCK (l/t too red)
DGP
CCJ (l/t too red)
VIT
RAX (L/t too red)
INCY (l/t too red)
WSM

I only have room to take a couple of these. None of the bearish ETFs have got a COD stop order yet .. so I guess I will be riding them up for a while.

marketguru.com was down all day, except for early morning. didnt matter, I only have half a position in TZA and TWM and plan on filling out the remainder when the market has stopped going up. I will probably use the 60 min charts to find an entry, unless they are stopped out before.

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