Thursday, December 17, 2009

12/17 Watchlist

A new bull signal on Treasury long bonds (TLT), and a bear signal on gold (GLD). Otherwise, nothing to add to this morning's discussion of the indicators.

No new signals on the currency pairs (EUR/USD and USD/JPY)

Among holdings:

Three January bull positons -- AET, HPQ, VALE -- have pulled back from peaks. I'm thinking of closing the positions.

LVS, a January covered call, is showing a bear signal, and prices remain in a sideways range.

KO, a January iron condor, has moved back in to max profit territory.

UNG, my December covered call, is trading well above 10. The call is a 9 strike, so the position will be exercised by whoever bought the call.

High-volume stocks and etfs priced $20 and above:
  • QQQQ, bear signal, uptrend
  • EEM, bear with a downward gap, uptrend
  • JPM, bear, downtrend, but already at resistance
  • MSFT, bear, uptrend
  • MJN, bear,sideways trend, on the fourth day following a bull signal; confused puppy mode
  • FCX, bear, amid a sharp pullback following an uptrend, the day following a bull signal; drunken sailor mode
  • PG, bear, uptrend, on the fourth day following a bull signal (no more metaphors)
  • FDX, bear, uptrend, on a gap down following earnings
  • VWO, bear on a gap down, uptrend
  • MOS, bear, sideways with some deep fluctuations
  • DTV, bear, uptrend
  • IVV, bear, uptrend
  • XLI, bear, uptrend
  • XLV, bear, uptrend
  • VOD, bear, uptrend
  • AXP, bear, uptrend
  • GPS, bear (but no gap), trend change (maybe) from up to down
  • DIA, bear, uptrend
  • COF, bear, sideways following a strong uptrend
So, all in all, a fairly broad switch into bear mode. A lot of the stocks, not just those noted above, showed whipsaws from bull to bear the last few days. With the holiday trading week coming up, closing questionable positions is the prudent course.

JPM is the only trend following trade  in the batch, and since it is already at resistance, I don't find it to be compelling.

No covered call scan today.

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