Tuesday, January 5, 2010

1/5 Morningline

On the charts,

Blue chips, the 20-, 50- and 200-day moving averages continue to point upward in ascending time order (ma20, ma50, ma200, top to bottom). Prices are making slightly higher highs and lows, qualifying as an uptrend. The macd and the slow stochastic are both in bull mode.

Long-term federal interest rates are a mirror image: Declining moving averages, the longest on top and then descending. Prices continue to make lower highs and lower lows. However, the macd is approaching the zero-line on an upward move, and the slow stochastic is peeking above the lower 20-line. The surrogate TLT shows  potential pps bull signal.

Both show a steady opening at the 1600-tick granularity.

The U.S. dollar is showing a potential bear signal against the Japanese yen, and the price has dropped nearly a percent from the open.

LVS, a holding, gapped up this morning by 2.3% above yesterday's trading range. My position is a covered call (-c16), so no joy in this rise. (Also, no profit.)

The energy etfs USO and XLE opened at the top of yesterday's trading ranges; USO gpped up yesterday, and XLE showed a smart rise. (USO tracks crude, and XLE tracks energy companies -- a real distinction.)

None of the indicators are going much of anywhere from the open:
  • Blue chips (SPY) open at 113.26, entered bull mode at close on Jan. 4 (at 113.33)
  • Fear index (VIX) 20.05, bull (bearish for stocks), Dec. 31 (22.68)
  • Treasury long bonds (TLT) 90.05, bear, Dec. 21 (91.14)
  • Corporate junk bonds (JNK) 39.36, bull, Jan. 4 (39.32)
  • Gold (GLD) 109.88, bull, Jan. 4 (109.08)
  • Oil (USO) 40.25, bull, Dec. 16, (36.74)
Currency pairs:
  • Dollars per euro (EUR/USD) 1.4412, bear, Dec. 4 (1.49)
  • Yen per dollar (USD/JPY) 92.49, bull, Dec. 15 (89.60)
Holdings, January expiry, no new signals:
  • KO, iron condor (p50/-p52.5/-c57.5/c60) 56.85, bear, Dec. 29 (57.74)
  • LVS, covered call (-c16) 17.01, bull, Jan. 4 (16.62)
  • SBUX, bull put spread (p22.5/-p24) 22.96, bear, Dec. 30 (23.31)
  • SMH, bull put spread (p27.5/-p29) 28.45, bull, Dec. 21 (27.62)

    Topics:, S&P 500, SPDR, Spiders, Treasury bonds, gold, precious metals, oil, petroleum, Coca-Cola, Las Vegas Sands, gambling, resort, Starbucks, coffee, semiconductors, energy companies.

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