Buying Today


Written on March 17, 2008 – 6:33 pm | by admin

I added quite a few positions today throughout the course of the day.  They are as follows:

  • AMZN
  • CMG
  • DECK
  • EQIX
  • SRS (added this position back after seeing the huge downtrend & slow stochastics cross on its underlying index - IYR)
  • URBN (triple top in the 30.50 area on the candlesticks)

Closed out the following (will look to reenter depending upon market strength):

  • CF (potential support around 105; make sure it doesn’t break previous low close of 105.26)
  • MOS (support around 100)

Added to the following:

  • DBA

Want to add on Fed weakness tomorrow:

  • CRL
  • RATE (unsuccesful; will add tomorrow)
  • HOLX
  • IGT (watching for a breakdown from previous support)
  • MGM (hoping for a retrace back up to the trendline)
  • PLD (market strength could reverse this descending triangle)
  • STI ( if it breaks its previous low close at 54.23, watch out below)
  • USM (broke beneath prior (weak) support)

Want to add on Fed strength tomorrow:

  • CHK
  • FMX
  • FCN
  • MGM (going to hit the floor if the market tanks, see PENN as well although it is quite extended to the downside already)
  • XTO (natural gas play along with CHK?)

Watching no matter what the Fed does:

  • UNG (look for a retest of support around 44)

Wish I could but I can’t (buy puts on this security):

  • RBA (what a sweet put setup)

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