Use access key #2 to skip to page content.

SharePlanner (< 20)

Trading Plan for Dec. 31, 2010

Recs

1

December 31, 2010 – Comments (2) | RELATED TICKERS: SPY

Current Long Positions (stop-losses in parentheses): OI (29.94), EMN (81.47), APOL (38.22), BTU (61.85)

Current Short Positions (stop-losses in parentheses)None

BIAS: 28% Long

Economic Reports Due Out (Times are EST): None

My Observations and What to Expect:

Futures are down slightly.

Should be a relatively quiet day as a whole with extremely low volume levels. 

Asian markets were down moderately, while European markets were down well over 1% on the day.

Watch the early morning weakness to see if the dip buyers jump in to try and propel this market higher - a consistent theme in this market. 

Trading activity in the markets should be back to normal trading levels next week. 

Trend-line continues to flatten out some due to the consolidation in the S&P over the last 5 days. 

There is a strong possibility that we see another beginning of the month rally come Monday next week - almost all major rallies of late have occurred on those days - 8/2, 9/1, 12/1

S&P continues to hold its trend-line upwards, but is currently lacking any momentum, with the Christmas  and New Year's holidays, there is little motivation to push this market higher.

The T2108 and the NYSE Reversal Indicator that I use, shows that the market has a lot of upward momentum remaining in it. Whereas more traditional indicators show the markets being well-overbought. For me, the latter doesn't bother me all that much, since markets are able to run in overbought territory much longer than what we deem as being reasonable.

There are about 10 points of give back on the S&P from where it currently sits, and where the nearest level of support lies at 1247, where any sell-off within those parameters keeps the markets and the short-term uptrend intact without question.

Breaking support at 1247, and the 10-day moving average, could usher in short-term weakness in the market.

The dollar is once again looking a bit top-heavy and poised to move lower in the short-term, which should strengthen this market rally.

The lows from 12/15 and 12/16 represent, in my opinion, the "higher-lows" in this recent market rally, and a break below them at 1232, would significantly stall this market's upward progression and potentially invite a new trend to the downside.

For the bears - Push the market below the 10-day moving average for starters - we have yet to dip below this level, even on an intraday basis, the entire month and then below the 5-day consolidation on the S&P.

For the bulls - Buy the morning weakness and then break the highs from last Wednesday, and out of the 5-day consolidation pattern.

Here Are The Actions I Will Be Taking:

2 Comments – Post Your Own

#1) On December 31, 2010 at 10:18 AM, bazhao134 wrote:

Welcome to ---------------(http://www.gotootoo.com )We are specialized in offering all kinds of top brand shoes, jeans, t- shirts, bikini, swimwear, jacket, jerseys, watches, purses, handbags, belts, wallets , sunglasses and hats etc.Accept paypal ,All the prices list on our website include shipping cost,insurance, tax etc..$30 nike shoes,air jordan shoes,nike shox shoes,gucci shoes$35 true religion jeans, ed hardy jeans,coogi jeans,afflictio n jeans, Laguna Beach Jeans$14 ed hardy T-shirts,Coogi T-shirts,Christ ian Audigier T-shirts,Gucci T-shirts, T-shirts.$35 coach handbag,gucci handbag,prada handbag,chanel handbag.fd

Report this comment
#2) On December 31, 2010 at 10:21 AM, bazhao134 wrote:

welcome to: =======http://www.gotootoo.com=======The website wholesale for many kinds of fashion shoes, like the nike,jordan,prada, also including the jeans,shirts,bags,hat and the decorations. All the products are free shipping, and the the price is competitive, and also can accept the paypal payment.,after the payment, can ship within short time.free shippingcompetitive priceany size availableaccept the paypalhttp://www.gotootoo.comSOCCER JERSEY 16USD jordan shoes $32nike shox $32Christan Audigier bikini $23Ed Hardy Bikini $23Smful short_t-shirt_woman $15ed hardy short_tank_woman $16Sandal $32christian louboutin $80Sunglass $15COACH_Necklace $27handbag $33AF tank woman $17puma slipper woman $30=====http://www.gotootoo.com======

f

Report this comment

Featured Broker Partners


Advertisement