2/18 Watchlist

There's no change in the indicators from this morning's trends. I won't waste our time trying to make something out of nothing new. Let's go straight to the scans.

Here's what's interesting among high-volume . . .

1/29 Watchlist

Blue chip stocks (SPY) for the fifth day are trading within a range, roughly 110.47 down to 107.91. More or less.

ESTRAGON: Charming spot. (He turns, advances to front, halts facing auditorium.) Inspiring prospects. (He turns to Vladimir.) Let's go.
VLADIMIR: We can't.
ESTRAGON: Why not?
VLADIMIR: We're waiting for Godot

"Godot" -- it is a little known fact -- is French for "volatility".

1/28 Watchlist

A headline writer on the Investor's Business Daily website at one point in the day said that the major stock indexes "Plunged". The decline today, so far, from high to low is 2.1 percent. They just don't make plunges like they used to.

The blue chip stocks (SPY) are trading slightly below the 50 percent Fibonacci retracement level, the current price is within the range set in trading on Wednesday, and are about where they were in late October.

In other words, 'tain't no thang. Also, there's no pps signal on SPY.

1/20 Watchlist: Whither Blue Chips?

Three days within a trading range (about 113.50 to 115 for SPY).
Three days of signals bear bull bear (using Person's Proprietary Signal).

What to make of the blue chip stocks? A major longer-term top or not? That is the question. . . .

1/19 Watchlist: Whipsaw Fever, Nothing is Forever

The blue chip stocks (SPY) are showing a pps bull signal, after they showed a pps bear signal just one trading day prior, and have retraced all of the loss they showed on the day before the long holiday weekend. This is the Mother of All Whipsaws. It certainly justifies my cautious stance on Friday.

Also goes to show, in the markets, nothing is forever. Ever.

The other indicators: The same as I noted in the Morningline, except more so.

Here's what's interesting in high-volume . . .

1/5 Watchlist

The Treasury long bonds (TLT) continue to show a potential pps bull signal on a rise from the open today of half a percent. Rising bond prices means falling interest rates (an amazing idea, given how low rates are already). I need to note that this etf fails the trend test. It has been trending mainly downward for a year. On the other hand, the macd and stochastic indicators are pointing in a bull direction.

The yen per dollar currency pair (USD/JPY) continues to show a bear flag, meaning stronger yen/weaker dollar, on a decline from the open of 0.9%.

Other movers today among my indicators and holdings:

• Corporate junk bonds (JNK), up 1.2% (meaning falling rates)
• LVS, a holding of mine in the form of a January covered call (-c16) is up 6.5% from the open after an overnight gap, a rise of similar magnitude, and another gap over the New Year's holiday. New reports are crediting gambling revenues in Macau, where Las Vegas Sands also operates. (What happens in Macau stays in Macau -- you betcha). I'll profit, but I would have profited more with a straight bull position without the covered call.
  
• KO has fallen 2.4% the last three trading days and sits nicely in profitable territory on my iron condor (p50/-p52.5/-c57.5/c60)
• SBUX, a bull holding,  jumped 4.5% from the open, although it has pulled back a bit. This is on the third day since a pps bear signal, with no new bull sig. Earnings is Jan. 20.
• SMH, a bull holding, is down a percent from the open.

Here's what else is interesting among high-volume . . .

. . . exchange-traded funds (etf):

• XLE, the energy etf, is up 2.2% in two days, with the pps, macd and stochastic all in bull mode. The 20-day moving average is slightly below the ma50, and poised for a crossover, restoring the standard 20-50-200 bullish order.
• FXI, the etf that tracks London's FTSE index, gapped up this morning and is trading 2.6% above yesterday's open. The issue fails the trend test -- it is a sideways meanderer -- but the macd and stochastic are in bull mode. The ma20, however, is trading below the ma50 and is trending downward, giving a bearish cast to the chart.
• KBE, which tracks a banking index, is up 2.7% from yesterday's open, the day after a pps bull signal. The trend is sideways, but the macd and stochastic are in bull mode.
• EWM, the Malaysian market etf, showing rise-gap-rise-gap-rise (the infamous rgrgr -- or roger-roger -- pattern, known as the inverse Asian Tiger roar). The trend is rangebound between about 10.40 and 11.20; pps, macd and stochastic all in bull mode.
  

. . . corporate stocks:

• JPM continues its rise after yesterday's pps bull signal
  
• KFT gaps up, and signals, on news.
• T drops below the point where it gave a pps bull signal yesterday. The chart shows a nice uptrend, though.
• CHK breaks past previous upside resistance with bull signals all around (but a sideways trend).
• QCOM gaps up with good trend, macd and stochastic in what appears to be an inverted head and shoulders pattern, which is bullish. Nice uptrend since mid-December and the all indicators are in bull mode. My problem is, when everyone sees the pattern, it kills the uncertainty and therefore the potential for profit.
• DOW with a nice rise through resistance after a pps bull flag yesterday, preceded by macd and stochastic bull signals
• CAL, large rise and a new pps bull flag, confirmed with the macd and stochastic, on a move through resistance and rising trend, and on news about revenue data. So the good news for the bottom line is no doubt already in the price.
• WMT, with a sideways trend, is showing the famous double whiplash pps signal, a bear, a bull and a bear within three days. The macd is heading toward bull territory, and the stochastic toward bear. Confused puppy mode, for sure.
• No new signals on MRVL, but it has a picture-perfect upward trend since late November and is blue sky (no resistance).

Topics:

Treasury bonds, Coca-Cola, Las Vegas Sands, gambling, resort, Starbucks, coffee, semiconductors, dollar yen forex, petroleum oil energy crude, London United Kingdom U.K., banks financial KBW banking index, Malaysia, J.P. Morgan, AT&T telecommunications, Chesapeake Energy, Qualcom, Dow Chemical, Continental Airlines, Wal-Mart retail, Marvell Technology semiconductors.

12/10 Watchlist

AET has penetrated resistance decisively on the third day after a bull signal and is a buy at 31.70 or below with upside resistance around 33.70. See the discussion in yesterday's Watchlist.

I've opened a bull put spread (p31/-p32) in AET at 31.70 for 0.47 credit. The position is profitable on expiration in January from about 31.55 upward.

New signals among the high-volume stocks and etfs, with the signal, mfi confirmation status, and the trend:

• QQQQ, bull, confirmed, sideways
• ORCL, bull, confirmed, sideways
• BMY, bull, confirmed, sideways
• SBUX, bull, confirmed, sideways
• UNH, bull, confirmed, sideways
• QCOM, bull, confirmed, sideways
• XLK, bull, confirmed, sideways
• CVS, bull, unconfirmed, sideways
• BAX, bull confirmed, sideways (at resistance following strong gain)
• MT, bull, confirmed, sideways

BAX has some interest. I'm not opening a position because of the sideways trend, but it could be a play.

The rest are mainly whipsawing in confused puppy mode -- a series of bull and bear signals every few days.

Indicators: The VIX bear signal (bullish for stocks) noted in this morning's Morningline has disappeared. Other indicators remain as described.

Holdings:

UNG had a sharp rise today and the December covered call (-c9) will be exercised at this level. The trade remains profitable.

HPQ, a January bull put spread (p40/-p50) remains in bull mode iwth a price rise today.

KO is trading above the upper end of profitability at expiry of the January iron condor (p50/-p52.5/-c57.5/c60).

X, showing a bull signal from yesterday, contrary to my Janurary bear call spread (-c40/c41), is pulling back a bit at the upper end of yesterday's trading range.

Currencies (paper trade):

USD/JPY remains in bear mode and is trading within yesterday's trading range. I continue to hold my short position.

11/30 Watchlist

KO shows a pps/mfi confirmed bear signal at 57.06, with resistance at 54 (if it breaks down below the present level) and support at 58.50.

These issues show mfi breakouts that could be set ups for confirmation of a pps signal, if one occurs:

• Bear: MRK WMT QCOM JNJ DTV
• Bull: TGT

The only potential trade is a bear position on KO. Decision after 3:30 p.m. EST (12:30 p.m. PST).

Holdings: No action warranted on GLD, which is little changed from this morning. UNG has declined and remains profitable.

Indicators: Indicators unchanged.