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10/2008
12.05.2008
Editor's
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Post FED gains vanished
Hello,
post FED gains vanished during last week.
Stock market indexes declined and slightly retraced from important resistance levels
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Situation is neutral from my point of view. It is not "buy" but also not "sell".
I used important resistance levels as good place for initiating small
shorts in SP500 index. If it will be correct and markets will starts
new leg down, I will add into these trades.
The problem I see on markets , especially on NYSE , is low volume level. Nasdaq volume is little better.
It was also Nasdaq-100 index which pushed all stocks up during last few
weeks. On this index is also leading global index right now. So I
am looking also into this index to possible long candidates .
There is also good development in currency ETF and
Commodity ETF area. I am still bear for gold, so GLD is still short
play for me. And in currencies like British pound (FXB) and also EUR
(FXE) look bearish.
How do you play current market ? Are you trade Oil and commodity stocks ? Or are you on sidelines ? What are your favorites ? Let me know. I will be pleased to read also your opinion and we can discuss charts of your stock picks in my blog.
Happy trading,
Richard
Quotetracker
I use several different programs for my trading business. As you know I like to use Amibroker for analysis . But for monitoring of market and watch list during trading day I use very nice piece of software - Quotetracker.
.... top of newsletter
Sector and ETF Watch List
Most sectors are in neutral
position as they retraced some way after January sell-off.
Long
ETF watch list: QQQQ, XBI,XLB,XLE,EWP,RSX,GML,EWZ,DBA
Short
ETF wacth list: TLT, GLD, IEF, INP (or PIN) , XLF, Consumer goods sector via Inverse ETF SZK, FXI/GXC, EWY, DBA
Russian stocks ETF with symbol RSX made nice rally in last two days.
Any pullback to 52 - 54 area should serve as good entry opportunity for
long stock swing strategy.
Stocks Watch List
I was looking for strong stock in Nasdaq-100 index and also in Utilities. Weak homebuilders could be good short swing trade.
Long
Watch list: DPL,TWC,ESRX, VIP, CHKP, ESRX, FAST, XLNX, ADBE
Short
trade watch list: ROK,OI,PHM,MON,MNST, PLL, KMB, DNA, ENR, AMZN, AMGN, AMLN, DELL,
Questions ?
I will be pleased to reply to any of your questions. Do you have
something to discuss ? Or would you like to read something in next
issue of newsletter or on my web pages or in my blog ? Let me know .
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