Position Update and Market Analysis for 12/11/2013

Mish Schneider | December 11, 2013

Existing Position: Long THC: 42.77

Name of Instrument: Tenet Healthcare

Current Price: 42.55

Sell Stop: 41.19

First Target: 44.77 for 1/2


Existing Position: FCG Long 19.61

Name of Instrument: First Trust ISE Reserve Natural Gas

Sell Stop: 18.67

Current Price: 19.26

First Target:  20.77 for 1/3 to ½



Existing Position:  Long IGT 17.96

Name of Instrument: International Game Technology

Current Price: 17.77

Sell Stop: 16.24

First Target: 19.24 for ½ off


Existing Position: Long FITB 19.10

Name of Instrument: Fifth Third Bancorp

Current Price: 20.31

**Raised: Sell Stop: 19.10

First Target: 20.97


Existing Position: Long XHB 30.70

Name of Instrument: SPDR S&P Homebuilders

Current Price: 31.27

Sell Stop: 30.57

FIRST TARGET 32.34-sell 1/2


Existing Position: Long TEX
: 35.00 1/4 position

Current Price: 38.79

Name of Instrument: Terex Corp

Trailing Stop: 35.84

***REACHED! First Target: 37.09 Sold ½

***REACHED Second Target: 38.04 for ½ filled 38.20


Flat has several meanings. 1. Smooth and even, without marked lumps or indentations. I wonder how many can say that about their equity after Tuesday’s session? 2. Lacking interest or emotion; dull and lifeless. That’s a yes! 3. In or to a horizontal position. Describes the market internals or McClellan Oscillator. The S&P 500 is flat. Flat as a word has several more urban definitions; but I will leave that to your own curiosity to look up online. Speaking of, Google (GOOG), far from flat, did make new highs.

Volume equally flat with an exception to the small caps, Russell 2000s, which posted a rather small distribution day. Remember, when you’re flat on your back, everything looks up!

S&P 500 (SPY) Held the fast moving average, which by the way, is flat. Subscribers: Negative Pivots in all

Russell 2000 (IWM) Broke the fast moving average with 111 an important support level

Dow (DIA) Closed just shy of the fast moving average but also on support. Also have to mention that IWM SPY and DIA did not make new highs recently while QQQs did

Nasdaq (QQQ) Marginally worked off overbought conditions

XLF (Financials) Volcker rule announcement had an impact. Sitting on support

SMH (Semiconductors) Holding the runaway gap

XRT (Retail) With a 6 day correction, 85.60 is pretty much the risk should this start to turn up

IYT (Transportation) Marginally held 128.40

IBB (Biotechnology) Held 219 and still digesting

IYR (Real Estate) 63.20 is the place to hold now

XHB (Homebuilders) Floundering around above the 50 DMA

GLD Gapped up so that reversal candle was good after all-now, 122 great resistance

USO (US Oil Fund) Cleared the 200 DMA-and baby, it’s cold outside!

XLE (Energy) 2 inside days-good one to focus on for range break

TBT (Ultrashort Lehman 20+ Year Treasuries) TLTs doesn’t believe taper talk it seems

EWG (Germany) 30.33 is the low of the island top to clear to negate that pattern

Bye for Now!