Tuesday, March 16, 2010

3/16 Watchlist

The FOMC statement, released around 2:15 p.m. Eastern, has been worth 32¢ to blue-chip stocks (SPY). That's only a 0.3% move, from $116.02 up to $116.34. It is a new high in the current price run-up, but all in all, a bit underwhelming.

The dollar saw a bump up against the euro and the yen, but it quickly retraced.

All in all, my indicators came through the experienced unscathed, and barely changed.

The watchlist:


Psar bull signal:
  • *AOD, analysis. At $9.20, a reversal level. Next reversal area at at $9.24-$9.27, the peak of the sideways trend in force since mid-2009. This is primarily a monthly dividend play, so even if it's going nowhere, it pays to hold.
  • GBP/USD, analysis. Trading at £1.5214. Next reversal point at £1.5520.
  • GE, analysis. Broke out today with an upward gap and a high of $18.01. Next reversal at $18.13, and above that $19.30, both from late 2008.
  • GME, analysis. At $19.19. No breakout.
  • INTC, analysis 1 2. Broke out today, reaching a high of $22.02. This move puts it well within reversal levels set in mid-2008. I'd peg the next nearest reversal point at $22.40.


New this week, from the author of Liar's Poker, a look inside the Doomsday Machine.
  • KFT, analysis. Trading at $29.62. Next reversal at $30.10.
  • SD, analysis. Declined to $7.84. Entry was at $8.17. I would close now for a 4% loss. The psar, pps and macd are all in bull mode, but the macd has started to decline, and the sto on Monday moved from overbought to neutral. This signal was a FAILURE.
  • USD/JPY, analysis. Declined again to ¥90.25, further below the very near-term reversal mark. I would close now for a 0.5% loss. The psar, pps and macd are in bullmode, but the macd is declining and the sto has moved from overbought into neutral. This signal was a WASH.
  •  *WFC, analysis. At $30.25, moving through two reversal levels. Next reversal at about $30.63. (Note that this was mistakenly listed as a bear play on Monday.)
Psar bear signal:
  • AUD/NZD, analysis. New today. at A$1.2933. Next reversal at A$1.2873.
  • GLD, analysis. Reversed sharply upward to $110.23, moving through two higher reversal levels. Entry was at $109.40. I would close the position for a 0.4% loss. The psar, pps and macd are in bear mode, but the macd is rising and the sto on Monday moved from oversold to neutral. This signal was a WASH.
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Topics:
Alpine Total Dynamic Dividend fund, Taiwan, gold, Intel semiconductors bum-bum-bum-buh, Kraft Foods, Sandridge Energy natural gas, Wells Fargo bank financial, Forex, U.S. dollar, Japanese yen, British pound, U.K.

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