THC: Stopped out 41.19 -all gone
XHB: Break Even Stop 30.70-all gone
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Existing Position: Long THC: 42.77
Name of Instrument: Tenet Healthcare
**Stopped Out-Sell Stop: 41.19
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Existing Position: FCG Long 19.61
Name of Instrument: First Trust ISE Reserve Natural Gas
Sell Stop: 18.67
Current Price: 18.78
First Target: 20.77 for 1/3 to ½
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Existing Position: Long IGT 17.96
Name of Instrument: International Game Technology
Current Price: 17.60
Sell Stop: 16.24
First Target: 19.24 for ½ off
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Existing Position: Long FITB 19.10
Name of Instrument: Fifth Third Bancorp
Current Price: 20.14
**Raised: Sell Stop: 19.10
First Target: 20.97
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Existing Position: Long XHB 30.70
Name of Instrument: SPDR S&P Homebuilders
***Break Even Stop: 30.70 All gone
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Existing Position: Long TEX: 35.00 1/4 position
Current Price: 37.55
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
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All I want for Christmas is my rally back! Instead, the volume indicator I waited for showed itself with a vengeance, posting a significant distribution day in volume in all indices. We saw and noted the reversal candles in the small caps or Russell 2000s, Dow and S&P 500 when they happened on December 2nd, but remained hopeful for new highs given that NASDAQ led the way thereafter. Last year, the Dow ended under the major moving averages, then began this year with a huge gap. Even if the market cannot come back before we end 2013, the real story from here on in doesn’t really begin until January 2014. The interest rates told a story-but the real saga begins if the TLTs break the 2013 lows. Who would have ever thought a government less than crippled would break the back of the small caps market at the very least? Ho ho ho!
S&P 500 (SPY) I believe the word is D-A-M-A-G-E. But, is the market still in a bullish phase? Totally. Subscribers: Negative Pivots in all
Russell 2000 (IWM) Weak unconfirmed warning phase. Shaken but not broken
Dow (DIA) Last week’s low is 157.83-that has to matter for something
Nasdaq (QQQ) Honestly, since the runaway gap on October 18th, this has met every correction with buying. Therefore, unless 81.35 breaks, have to view this as a correction
XLF (Financials) Just last week I wrote about 21.04
SMH (Semiconductors) Closed the gap from its runaway-back to the drawing board.
XRT (Retail) This sector will have division in the coming year-now, the 50 DMA is close enough
IYT (Transportation) The 50 DMA important
IBB (Biotechnology) 213 is where the run started from-now support to hold
IYR (Real Estate) This group has not looked good since May-doesn’t mean that the other groups shouldn’t have been bought-but if 6 months ahead of the curve on better economic numbers means higher rates-this group knew it
XHB (Homebuilders) Landed on the 50 DMA-very interested to see what this group does
GLD Rejected 122 but holding the reversal pattern from 12/03. Let the monthly close show the way
USO (US Oil Fund) Right back to a bear phase! Rejected those moving averages.
OIH (Oil Services) Weak warning phase and oversold
XLE (Energy) If I had a dollar every time I wrote about 2 inside days and the money it yields when traders follow the range break…
XOP (Oil and Gas Exploration) Approaching oversold
TBT (Ultrashort Lehman 20+ Year Treasuries) Took the budget deal to raise the rates
Bye for Now!