Recap
Well today sucked. Not so much in the sense that I didn’t follow my rules, but just over traded a bit in the dead wrong direction and it took a small chunk out of my ass. Thank God for risk control. I have come to the conclusion that I’m not all that comfortable trading above just the 10:30 high point. After a few of these trades it just doesn’t feel right for me. I will make the adjustment and focus on more pull back type set up’s.
I should have followed MaoXian lead.
For 10-3-06
It looks as if the all to needed break started today around 12:00. All three indexes took a small hit with the Nas leading the down turn. This puts us in cautious areas for all the short term situations. Gold looks like a good short in here, even better if you believe it will break down through support at 575. The big question, is oil ever going to stop dropping here?
Strong Areas – Last Month:
Home Furnishing Stores, Auto Parts Stores, Catalog & Mail Order, Electronic Stores, Textile – Apparel Footwear, Major Airlines, Sporting Good Stores, Apparel Stores, Discount Stores, General Entertainment
TGT, BJ, CBK, AEOS, JCG, ANF, CHRS, MW, TAM, CROX, COH, NKE, RSH, GME, AZO, ORLY, BBY
Nice Looking Tau Long Stocks:
COGO, BGC, TWTC, BDC, VIP
VIP, BDC, AMG
Weak Areas – Last Month:
Medical Practitioners, Silver & Gold, Oil & Gas Stuff, Industrial Metals, General Contractors, Drug Stores, Energy.
DRQ, HOC, OII, SUN, BJS, DNR, FTI, MHS, CVS, MEE, CNX, ACI, FCL, TIE, MDG, AEM, GOLD
Nice Looking Tau Short Stocks:
JOYG, ACI, CRB, NX, GWR, USG,
Interesting Tight:
AAWW, HAE, CERN, UIC, AMN, IDXX
