..no big deal

What was a choppy yet range bound trade on indices turned sour at 3:30pm with a quick spike down.  We're not sure why and we're not overly concerned about it.   It may have just been a pre-Meredith slip.  The Oppenheimer analyst Meredith Whitney has that effect it seems when she enters a room and yesterday she was to appear after close on CNBC to discuss her almost daily shavings of Bank estimates.    Maybe a few expected a surprise or something to slip out of her lips.   As if!.   Anyways...the market had no chance from the start yesterday thanks to ORCL's earning and pretty good ECO data was not going to change the markets mood.    We're keeping this short this morning, we gave a detailed outline yesterday on the stocks and sectors of interest and our trading theme remains the same of buying favorites on the dips.  

A few things of interest heading into the trading day is the Citigroup BUY rating change on LEH and Merrill's BUY on X.   We'd look to trade these sectors to start and then see if it rubs off on the others. 

..planting a seed

..maybe this is what this low volume day after day has been all about recently....planting a seed....Consolidation. 

Okay...lets continue with the disconnect discussed heading into the week between our primary list of stocks and the market indices, except this time lets turn over the table!.    Why?.  Simply..Monday was one strange looking day in our eyes as the market contained gains most of the day while our commodity rich list lagged until about 2:00-2:30 pm.   After the slop trading we saw most of the day, our stocks improved late while the indices started to suffer some and finished only mildly higher.    All morning, we were hearing and really not seeing the strength in the financials that was pulling up the indices.  The prices in the the GS's of the world were only slightly higher early and with the drug problems on the street led by MRK, we were not in one of our lets get a rally going off the financials back this day.    It wasn't going to happen as the day brought no headlines from the bunch as well.    Maybe Tuesday the financials can turn this into something more and we can say those April "FOOLS"  rallied the market.     The problem or best described as an opportunity possibly was the action in the commodities, specifically the Chem-Ag's that slid off the "planting seed' report.  We've talked for days straight about looking for an opp to buy on weakness and yesterday we got that in many a name in these commod' sectors.    Basically, the Ag's sold off on news, maybe even a slight EPS miss you may call it as the USDA released the planting intentions of farmers.

The USDA reported farmers planting intentions in corn of 86.014 mln acres vs the USDA's prior estimates of 90 mln, the American Farm Bureau's estimates of 88 mln and the Dow Jones Newswires survey of 22 analysts estimate of 85.7-89.8 mln (creating an avg estimate of 87.387 mln); wheat planting intentions of 63.803 mln vs USDA's prior estimates of 64 mln; soybeans planting intentions of 74.793 mln ....... 

• BLAH, BLAH thats our view!.  You can't control the weather and these numbers can be turned around in a few days because of it. Our only concern is the hedgies and as long as they are around that will be the greater factor in determining this sec's fate.  Late in the day these improved and should send a positive signal out there.

So, if picking up 'cheap' shares on a boring green day is some kind pre- April Fools joke, we all may be in trouble!.  We don't think so. This wasn't a running of commodities out the door like recently seen,  it was orderly but was widespread.   We'd look for a play or two that didn't rebound as much, eg a CMP over a MON. 

MELI,  we took it out of the closet and bought into the news of them withdrawing their offering.   This offering has been a drag on the stock since January and should give it some reason to move now.  The other reason to consider this big past winner here at DJIM is if you ask the question of why they did it.    This stock loves rumors and this may give it more in the way of interested parties in MELI.  Is there something on the table for MELI for real now?

On to Q2,  it can't get worse than Q1 on the indices!

...a fickle lot

..and picky..picky aren't we!.  After the 3rd 3% day on the indices in less than a month, traders were in a corrective mode and excellent earnings were tossed to the side in many respects.    How else can you explain MON being taken down yesterday on the same numbers they only guiding up 2 weeks earlier?.    What did the crowd expect in 2 weeks?.    Last night we had RIMM report excellent numbers and guidance and the highest price it saw AH's was in the low 120's.    Not exactly the same exuberance as we usually see from a mighty report from RIMM.  Are these reactions a negative?.    In our view..no...as we are just glad the market did not do what it did 2 times off huge surges last month and that is give it up big time the next day, even with Bernanke's potentially damaging words in the market.     The market hit some technical resistance on the SPX and NASD and we need to do some corrective trade after the latest rally and no matter how good earnings are as of yesterday, they too need to be taken in stride.    Also, many stocks here need to set up to go forward once again, so have some patiance.    Believe that these earning reports are in the back of the minds of Bulls and Bears as they possess the ammunition to go forward and they both know it.   The Bullets won't and can't be used up to blow forward now as we have the employment report on Friday and so we'd expect some subdued action today heading into it.    UBS hasn't helped this morning by D-grading CSCO, but this should be pushed under the rug soon enough. 

Yesterday was an oil/energy day ( RIG, CLB off list here) and this included the Solars moving which had a lot of company specific news as well.   We all know how deadly solars could be and after this recent run, we'd be careful chasing as there many more things out there we'd prefer to trade...the steels/coals are still cooking..X, AKS, CLF ...the RIMM types off our list

Even though we'll probably get some subdued and defensive trading before the employment report, it doesn't mean there won't be a 'pocket' of strength in some sector and that is what we'd concentrate on.

Primary Watchlist

Snapshot of platforms primary trade list at close Friday.

AAPL          153.29      +1.68             +1.11              30,527,900  
AEM           70.44       +2.42             +3.56              2,151,700   
AKS           61.11       +0.91             +1.51              2,762,400   
BIDU          293.60      +6.96             +2.43              7,999,900   
BZP           19.02       -1.46             -7.13              1,626,600   
CF            123.21      +8.66             +7.56              3,985,300   
CLB           129.00      +1.85             +1.45              202,200     
CLF           137.33      +4.59             +3.46              1,529,600   
CLHB          63.31       +1.31             +2.11              330,400     
CMP           68.00       +3.95             +6.17              1,402,000   
CSX           56.90       -1.76             -3.00              5,374,600   
DRYS          66.25       +2.15             +3.35              3,494,500   
EOG           124.32      +2.88             +2.37              1,928,000   
FDG           57.70       +1.70             +3.04              2,796,400   
FLS           110.79      +1.37             +1.25              1,075,900   
FSLR          278.70      +27.10            +10.77             12,014,000  
FMCN           40.31     +1.56                                      3, 496,100

GLD           90.27       +0.85             +0.95              7,228,200   
GS            176.00      -0.53             -0.30              8,500,200   
GU            15.45       +0.46             +3.07              1,879,900   
ISRG          336.40      -0.59             -0.17              828,400     
IWM           71.43       +0.28             +0.39              61,536,000  
JLL           82.92       -1.54             -1.82              424,800     
JRCC          19.57       +0.34             +1.77              1,222,600   
JST           33.00       +3.00             +10.00             311,500     
LNN           110.64      +0.93             +0.84              534,500     
MA            228.05      -3.20             -1.38              1,952,500   
MELI          42.75       +3.11             +7.85              2,068,700   
MON           119.01      +1.22             +1.04              7,330,400   
MOS           115.70      +11.18            +10.70             14,330,800  
MTL           133.43      +3.42             +2.63              900,300     
POT           171.12      +3.45             +2.06              9,341,800   
RIG           144.15      +3.77             +2.69              7,897,100   
RIMM          120.12      -2.46             -2.01              24,431,500  
SPWR          90.40       +8.39             +10.23             6,129,800   
SPY           137.04      0.00              +0.00              204,473,000 
STLD          35.95       +1.65             +4.81              5,689,300   
SWC           17.12       +0.81             +4.95              2,360,500   
TBSI          33.35       +0.07             +0.21              429,400     
V             64.12       -1.38             -2.11              9,099,000   
WLT           69.66       +0.58             +0.84              3,094,800   
X             140.62      +2.71             +1.96              5,645,600   

DJIM #14 2008

As the jobless rate spiked down to 2003 levels, it is almost impossible to argue a recession is in place, but it is also impossible to say that the Bear haven't lost it's grip on the markets as we saw the Bulls pulling the indices up and shrugging off the jobless number.   As we discussed all last week, the ability of the market to hold onto its gain after the 3%+ rally was signalling the selling had cooled down and this time it would be different than what followed the March rallies of the same proportions.   If this is indecision on the sellers than its good sign as they are not sure of things as before, the only argument they may use now is calling the low volume suspicious and that they are just waiting to rattle the rally.   Either way, it's not your problem or ours as our goal is to capitalize when the chance arises and last week we think did just here as DJIM's players, our index you may say outperformed anything in sight.  We had some nice alert leads ahead of the curve on CMP, DRYS, MELI and it's nice to see them getting some headlines right after.     When you're ahead of the curve, you get a chance to sell to the herd!.  That's the game!.  CMP was noted on CNBC as a stealth play behind POT, MOS, we profiled it in December, and it spiked in premkt and was a feature story on IBD this weekend. DRYS was referenced on the front page of Barrons this weekend to a good story inside.    Heading into the week, it's quite simple as there is no reason to change what's working and that's everything off our primary watchlist relating to...." Agri/chem, Steels, high beta Technology to Shippers, Solars and even oil stuff".   What will most likely come to hand this week is an important technical picture to track.  This is where volume comes into play that wasn't there last week, if it comes to the upside it will drive the market through resistance 12800.  If we see the 12800 coming with dry volume, we will most likely take positions down and wait for a clearer picture to emerge.   Right now, the Transports are leading the way and that is a very important positive signal for what possibly lies ahead for the rest of the indices, including the general economy.   Little economic data flow this week should allow an opportunity to potentially trigger some of the resistances and that is what we'd closely track this week. 

We've tweaked the DJIM primary tradelist, shadow list.  We've taken down a few financials as we don't need to monitor, trade 4-5 now and a few others that are just boring now like SAM, HURC.    Still the latter are EPS wins and if we get that trade again as we're starting to see, we'd keep them close to our primary list.  We've added the GU, JST as more on the speculative side, reason speculative you may say is because we'd rather lay our bigger dollars on the expensive stuff that's been working as that is where the volume allowing for easy exit is and where the sideline money from institutions is flowing to.   In the good ole'days when EPS and sector plays from midcaps rolled these would be on top of our list probably.   Times have changed and we need to see the momo game come back to go heavy at this point in these types.   Remember, if the mkt reverses in anything that resembles the past, these lower volume, cheaper plays will slide harder and have bigger spreads going down as buyers will dry up.    Simply, don't become complacent now just because the market is good and you think you're indestructible.   Others are included following mentions in alerts, Journal the past two weeks....MELI, RIG, CSX, SCHN.    WLT is another name we're adding.

No biggie....day 2!

Despite all the negative earnings for a few cyclical companies , AA, AMD, the market showed little fear as it shrugged off an almost triple digit negative intraday move and then toyed with ending flat on the day.     Some corrective action is still needed, but some indices like the SPX just continue to be in a tightly held range.    Judging by the volume, both the Bull and Bear are acting like the news mongers they've become over the past months waiting for an excuse the run with the market either way.     Nobody wants to do anything it seems unless they get some hand holding in the way of bombastic news to guide them.    To us no news is good news and the only hand we're holding is that of our April hottie, our shadow/watchlist as it continues to lead us into greener pastures.   We could sit here all day, week and have what many are calling boring..ho'hum action while we all just profit here..it's all fine with us.     We've had plenty of nice moves in April and have pocketed many a gain, yet we are constantly coming back to our good friends.   Yesterday our friends even started to listen well after we alert noted a few may still shoot to highs into the close.  You really didn't need to do much all day and just catch the last half hour or even last 5 minutes with V, FDG, MELI.    These and a few others, mostly the shipping boys is where we're hanging out and to be honest are eager to get back in size on the steels etc.  The reason is our mouths are watering at the prospects of having this market rise.   Reason being is the financials are soooo' ready to lead us.   It's just a feelin', nothing really technical.    So, as all traders sit here, the Bears are waiting for recent history to repeat itself of the market sliding off these levels, hopefully hard on bad news, but we think they maybe are becoming complacent and will be in for some shock treatment.   

We're not going to go further today and jinx, you have the plays.  All we could say again is our mouths are watering, especially at the prospect of Bears foaming at the mouth shortly.  Uuuahh, we're getting nasty;)!.    Hey, if it doesn't happen, no biggie, we're happy with the damage we've done here recently and are not loaded to the hilt to take a hit if we don't get our way.  Hopefully, DJIMers' are feeling the same.  

DJIM #15 2008

A new form of entertainment maybe sweeping through America and it's called the 'Conference Call' of America's once mighty.  Nothing is more entertaining than listening to money managers peeved off at CEO's of giants like Bear Stearns and now GE!.  The blame came is on as the only way to make yourself not feel guilty for blowing your clients lots of money is to blame another.   That is what is happening and the only way for us to avoid any blame is to do what we have always preached and that is stay out of stocks heading into earnings.    We are bringing this up today because this is the week it all really kicks off and we are not going to screw our portfolio advances in the past month by rolling the dice.   If these so called value managers did not foresee the potential problems of GE in their financial, health care etc, why we would bet on companies we know much less about and what encompasses their business.   It's not worth it,  we 're traders and we will react to earnings not bet on them.    To us these companies are only symbols, nothing more.     As usual, we're not here at DJIM to analyze the past, even if the past is really the present with GE's wipe out still the topic of conversation 72 hours later, but we've been all tattooed in the media and all the noise is rehashing the pessimism we're all used to.    Instead of looking at this as the 'bombastic' news!, we noted the market was looking for last week, (unfortunately negative bomb),  we'll look at the wipe out as a positive when it comes to earnings this week.   Why?  The pessimism and the lowered expectations may bring great volatility if some stocks of size report surprising numbers as stock prices lowered in the aftermath of GE, we may get the herd running wild to these names and GE may quickly be forgotten as some stocks may look cheap once again heading into earnings, eg AAPL.    Still, no matter what occurred in the broad markets, our concentration, our niche was holding up incredibly well early Friday and if you got the jitters, your exit door was in front of you near Thursdays closing prices.     If you've decided at some point you lived through enough turbulence the past 6 months or so, Friday was just another day.   The bias has turned once again and another downtrend maybe in the cards if the financials and techs do what is expected and that is give no positive "surprises".    The reports don't get going till Tuesday AH's and that gives two full trading days of a possible bounce being played out, we'd use this as an excuse to let go of some positions if you felt stuck with anything Friday or just want to lighten up.    The SPX will probably test 1320 before any reflex action happens from these March close levels, so a further drip would not surprise early on.    If we see no hope of this level holding this week, we 'd start to imagine this selling spreading to the resource, commods' at some point for the short term and therefore we will simply clean out any exposure we have for the time being and let this play out. 

As far as our 'shadowlist', we'd just add a mix of financials back like JPM, MS, LEH to gauge the sentiment.  We'd replace a FMCN following last weeks guidance and add EDU with EPS this week.   Not much else to tweak on the list as we were quite happy with our niche last week.   A note.. some earnings dates in our link are not confirmed like MELI's,  so as a rule,  if something interests you should always double check for yourself with any stock.

GE who?

Short term memory.   Isn't that just the beauty of the markets and specifically earnings season!.   Just last Friday the global sky was flying and the noise of GE was vibrating into our eyes and ears for the next 72 hours, now INTC supposedly has solution for everything and anything and GE was just a bad dream.    Not to put a damper on things, but let's not get the bubbly out just yet!.    Sure...there are many a trader bludgeoned this year with an infatuation with tech and we welcome them back to bid up the market.   Hey, we can't eat coal and steel all day and every day so we'll help them out today, it's the least we could do with their beaten up techs.    But..today is only today as we don't really trust the lot and we need to really have them show us the money day in and day out this week.   Just like GE never happened, INTC maybe quickly forgotten if its brothers and sisters don't play fair the rest of the week.    Our strategy ain't changing overnight, we'll follow the herd and slice and dice the high beta's stocks  AAPL--RIMM--BIDU etc. for the moment, but we're not changing our diet that has been very, very good to us all.   You wanna see earnings!, wait till our stuff like the steels give guidance, it will put INTC's #'s to shame.    Anyways..on to yesterdays pre-INTC trading day....

Coals, this bunch seems unstoppable.  All we have to say is "look to MEE very soon as the chart looks to be setting up" and the damn thing explodes to over $50 even after gapping some. lol.  The good thing is these guys give you more than one opportunity a day as they slide down and give an another opportunity to enter in.  The same goes with PCX, if you didn't catch any of the previous days move it's all good cause you had a very nice chance to get some cheap yesterday.  FDG, WLT we like them all and whichever coal dips right is the one we are favoring at that time.

Solars,   with oil spiking to 113 it is no surprise to see these moving up.   Earnings are around the corner, SPWR corner is tomorrow and we are anticipating their numbers to dictate a lot of the action in days to come.  So we wait to dive deep, but it doesn't mean we're not dipping in our toes.  We did that with a fresh face yesterday in SOL for a few reasons.     We liked the supply contracts, we like the fact if the sector is heating up a 10million IPO name breaking out to a new high will get attention from traders.  It also has a pretty darn good IBD number and even if we haven't played this IBD $15 game for a long time, a solar that is eligible for IBD is hard to find!.    So, why not SOL to be in print!.    Too many continued to play the 15 dollar game at IBD for months now and it was a futile game.  What you need is not just a rating, you need the stock to be in a hot space!.    Maybe TITN was the last we recall and that was only because it was in the right place at the righ time (Ag').  We were quite aggressive buying it up yesterday.

A note EBAY is reporting tonight and so we were toying the idea around of MELI busting a move. 

..off to flip the pages of reports..the rush is starting with MBT, LUFK, CSX ...

GOOG-OX

... a gangster slang!.    A bull slang today!.     How fitting for a 500 pd OX we said we'd see if it just reported decent numbers yesterday........Goog'ilicious...Googie me.....whatever we use, it's all good today.   Only in Australia, a Goog is an egg, right!.    As long as we all stay inside and google all day, there is no recession and Earthquakes don't happen in Illinois.    Let's work with what we got last night as traders and nothing else....quite simplistic!.     If we don't hold the gains.. if we don't as bulls kick ass with this $70+ buck GOOG move on options expiry day, we need to really worry.    We don't want a rush today and if we spurred a new beginning this week, there will be of plenty of time to get into a potential breakout from the range bound trading we've been in seemingly endlessly.   There is so much fent up range frustration here, it maybe explosive in days, weeks to come.    We may just watch like TV today and prep for a weekend of drink and peace;).    We noted, we wanted to see the brothers and sisters step up and follow up INTC .....well, they have one by one this week!.   We've used the commodity stocks to blind us to the rest of the market , the economy so far in 2008 and this potential turn is seemingly perfectly timed if you've followed our methodology, our sherpa to the market.   Your book, your portfolio should not be looking to take advantage now and say it will make up lost time!.    There has been no lost time as far as we're concerned, the potential has been here to walk out of these treacherous months almost unscathed at this juncture if approached, shadowed right.     If you're still here it means you've survived with us, thank you and thanks for the emails, we've all been taught lessons and are better for it as traders as we go forward!.    Nothing brilliant we want to add today, lets see how it plays out, we can only giggle today thanks to Google and the hood at some of our favorite egomaniac doomsayers shortie bloggers.     They could be right and there maybe no America, no market one day;).....they might've been right for a few months to be short,  but screw them cause Djim'rs balances should be just fine and in tact to take advantage of what could be coming.

"....All we could say again is our mouths are watering, especially at the prospect of Bears foaming at the mouth shortly.  Uuuahh, we're getting nasty;)!  April 9,2008

 

Oh-no-Bull warming...

 Our favorite bloggers...

 

...jus' like summer

Mondays trade resembled a summer's trading day.     Not only was the weather too hot where we are, but the volume on the indices was full of nothing but smog.    It was low and it might've taken a little effort for many to see through it and get a read.    After last week big gains, we were looking for some profit taking and corrective action to come in Monday, we'd have no problem with that!.   Instead what we got early was a nice report from ACI to help push all the other coals we've been covering here, most to NCH's( new closing highs)..JRCC, FDG, PCX, MEE, AKS, WLT.    In our view, this coal action was just a bonus following Fridays and an excuse to take some profits.    It's not a surprise to see great reports from this sec' this Q.    We've been buying this sectors stocks a lot on dips the past Q as they seem to provide some of the best around before making a nice recovery.     At this point with many reporting earnings, we were thinking we'd be getting this opportunity as they sell off on the news.     Unfortunately...the way they traded into the afternoon we were starting to think we'd sold too early this time around.     Considering, we began covering this sector when JRCC was in her low teens and yesterday hit high $25's, it is never a bad idea to sell a group and regroup.    The action in coals was in other commodity stocks as they all benefited from higher crude and metal prices, which offset the impact of weak financial stocks.     We did see pretty good action in the big 3, we trade here from the tech/internet sector, RIMM, AAPL,BIDU.     All in all, what seemed like lacklustre day too many a trader was nothing but as we all can see yesterday by the DJIM watchlist, shadowlist.   Those visiting DJIM can find the list on the next few pages of the Journal or a smaller favorites list just by looking at the Charts section where you find a few other stellars making NCH's,   CMP and V

Oh yeah let's not forget on of our most recent plays, SOL which had a great open climbing to almost $19 bucks.  Not bad for 5 days work from $14.   Again, keep looking to add and/or buy-back on dips as has been the strat.   As long as oil is roaring mad, solars should play along.

Some may have been upset we didn't get follow through gains after Friday, some on the other hand may have upset we didn't get a pullback. Even though we are expecting some sideways to consolidate the recent gains, a pullback would be welcomed here so we may pick up back some of our beloved.   But, by the looks of things a pullback is not going to include our niche of stocks anytime soon and so we maybe S.O.L!..lol.   In other words, in conclusion, we are pretty light as far as positions are concerned now,  but are itchy to start buying this market up once again!.

..Rollover

If you came home last night and saw +42/+28 indices day, you'd think it was a ho-hum day.    What you missed was a head scratching +117 move to the upside and then a big rollover reminiscent of all the subprime intraday volatility as the market gave it all back and more before regrouping.    The reason it was head scratching was we really thought there was no major catalyst for such a move.     As it often happens, the herd jumps in and then asks questions, this time it was what are we doing at 12837 today?.     What comes next is a reason for profit taking as the market realizes it really shouldn't have made such a move.    A big rollover ensues while the market searches for reasons, yesterday it came up with some ABK and more writedown noise.    Any excuse is the markets motto.    To us it was not the noise that caused the big dipper, it was pure profit taking because you have a chance after an unrealistic move to the upside.      At the end , we held the 1372 area on the SPX and we remain in a position to move towards last weeks highs and that is all that matters.

We've been noting of how we are looking for a pullback in our commodity stocks and yesterday we had one of sorts, especially in the Ag-Chem's before a tide of earnings the next morning.. from POT, TNH, TRA, BG.     Was this enough?.     In our books the answer is simply NO.    We are not itching to get back in off a sell off into what is expected to be excellent earnings, it's the reaction following earnings that is important to watch.       What we mean is if a stock like POT falls 10-15 pts off profit taking before what will be a no brainer stellar report, we need to see what it will do next before making a move.     As of this morning what you see is so much of this groups move is being priced in following MOS, MON's reports earlier.     The problem now is the possibility all the optimistic shares see no short term upside and decide to sell and not be stalled.  If this happens,   we will be in a real pullback and that is what we'd probably wait for and only use todays bounce possibility for an intraday trade.     On the other hand, if this market wants to make a move higher, you know all these commodity sectors-stocks will be in the mix and we'd be buying back and forgetting the idea of any imminent pullback. 

Despite the barrage of earnings, there is nothing emerging this week of anything we'd want to chase.  Primarily this is not because earnings are disappointing, it is just because the recent rally is caking in any upside that earnings may bring to a stock. 

Considering AAPL did not give ammunition to the Bears overnight, we remain in a very opportunistic level on the indices heading into the final days of the week. 

DJIM #17 2008

Before the start of trading Friday, we headlined the Journal, "To play or not to play?"...it is pretty obvious which way we turned before the market ever did as we fired off alerts on BDX, MEE, IPI and MTL.    Basically, we went back to the well of what has brought us here near 13000 on the DJIA, this being primarily a Ag-Chem, coal and steel stocks.    So for the 2nd straight day, the market put in a nice reversal and that must've been very disheartening to the Bears heading into the weekend.    This signals a healthy market working its way up.    Unfortunately, some exuberance over the '13000' maybe curbed as we all start looking to hump day Wednesday and the FED move.   As we all know trading before a FED decision is not the most exciting thing out there, but this time at least we have 13000 in reach and the market will probably push towards that psychological level before the decision.    If we get this trade, we will use it to bring down our positions, simply sell into it.    That is the simple message here to start the week and really the only one for now. 

We have some interesting earnings this week, most notably FSLR and X to watch over.

...April Shower?

On this last day of the month,  the market is set up for either an April shower or a blooming May flower to be it seems!.  It's that simple as once again we are at the mercy of a FED decision and to make it even more interesting a GDP number before.    As usual the days before a FED decision provide lacklustre, choppy tight trading as traders become hesitant to make any volume moves.    Today will be one interesting day, but of course as often happens something else is on the horizon to fuel more speculation and that is the Friday job report!.    Ahh, it never stops, does it?.      So, basically if you are constantly defensive and weary of all economic data, you might as well never trade in this environment the last year!.   The most important aspect today may be the reaction of the USD after the FED decision.   The USD has been gaining some ground on the Euro/Yen and what we are witnessing is gains in the Dollar index are causing a retreat from the commodity/materials sectors.   Yesterday, we had oil down almost 3%, Gold off about 2.5%, Materials overall -3.1%.    There is a lot of noise that a stronger dollar will cause commodity stocks to fall further.   We think this is just that in the longer term..a whole lot of noise!. 

On the other side of the trade yesterday, it was only the credit card processors, MA and V that provided any kind of excitement.  Both companies beat handily their estimates, but it wasn't until MA reported a 30% beat that V's under 20% beat gained interest after getting beat down in the previous AH session.  Looks like we'll have another nice Q to trade these names.

The last 48 hours, we've seen a flurry of DJIM stocks announce earnings... some like MA V FLS CMP X and FSLR today are reporting great numbers, but what you are running into is something called 'expectations', in some cases unrealistic expectations.    This makes trading these at first sight difficult and what you should only be doing is going with the trend after indication it's all clear or you'll find yourself having a lunch with a CMP to the 50ema or worse.     If we didn't think these were powerful EPS companies, we would not have been playing them for months.   The point is getting ahead of the herd as we've done and let others worry about playing these stocks immediately off the next earnings.

Okay...here we go!.  Strap yourself in....or will this be just more unnecessary hype we've had to go through?

DJIM primary shadowlist

Our platform list at close Friday,

Symbol  News  Last Price  Chg (Prev Close)  %Chg (Prev Close)  Volume   Low  
     
AAPL          181.08      +1.08             +0.60              35,931,400   178.55  
AKS           65.72       +2.79             +4.43              2,719,400    62.73   
AXYS          56.20       +0.96             +1.75              203,200      55.49   
BDX           88.27       -0.97             -1.09              977,300      87.94   
BIDU          362.00      -8.00             -2.16              4,117,500    357.60  
BZP           21.65       +1.89             +9.56              1,300,700    19.78   
CF            135.12      +3.08             +2.33              1,860,300    131.18  
CLF           159.96      +5.15             +3.33              2,142,700    153.85    
CMP           66.40       +2.80             +4.40              738,100      63.86   
CTRP          67.87       +2.82             +4.34              1,426,000    66.03   
DRYS          90.75       +7.54             +9.06              5,310,500    84.50   
EDU           75.73       -0.31             -0.41              318,900      75.13   
EOG           127.22      +0.37             +0.29              2,975,400    123.92  
EXM           43.23       +3.17             +7.91              1,450,900    40.50   
FDG           63.50       +2.73             +4.49              1,318,600    60.78   
FLS           123.57      +1.49             +1.22              677,000      121.77  
FSLR          277.50      +14.15            +5.37              4,754,900    266.70  
**FXI           164.00      +1.84             +1.13              4,882,600    162.45  
GS            200.27      +1.22             +0.61              9,437,500    198.00  
HES           106.34      +3.88             +3.79              3,905,800    103.51  
IPI           44.75       -0.33             -0.73              2,972,900    43.68   
**IWM           72.69       -0.06             -0.08              58,836,700   72.24   
JRCC          24.16       +2.48             +11.44             1,095,200    21.67   
JST           38.91       +1.09             +2.88              83,200       38.00   
**KOL           45.23       +2.11             +4.89              197,500      43.01      
LNN           100.65      -3.09             -2.98              468,700      99.81   
LUFK          74.99       +0.65             +0.87              144,600      74.81   
MA            285.50      -8.44             -2.87              4,470,400    281.85  
MEE           52.81       +1.77             +3.47              1,769,300    51.32   
MELI          50.25       0.00              +0.00              554,100      49.80   
MER           52.72       +0.33             +0.63              20,350,600   52.08   
MON           114.51      +0.85             +0.75              7,392,500    111.72  
MOS           124.90      +2.35             +1.92              6,247,600    120.15     
MTL           145.36      +7.51             +5.45              1,172,300    137.44  
NS            53.45       +0.43             +0.81              138,300      53.16   
PCLN          126.37      -1.86             -1.45              1,621,600    122.87  
PCX           68.02       +2.76             +4.23              275,100      64.49   
POT           186.94      +3.78             +2.06              12,151,800   184.64  
RIG           151.71      +5.95             +4.08              5,817,400    146.50  
RIMM          132.52      +4.52             +3.53              18,962,400   129.48  
SCHN          87.79       +1.39             +1.61              508,100      86.13   
SOHU          77.89       +2.45             +3.25              3,110,300    75.00   
SOL           16.00       +0.38             +2.43              981,100      15.85   
**SPY           141.65      +0.53             +0.38              181,585,500  140.56  
TBSI          44.25       +1.58             +3.70              697,900      42.29   
V             82.95       -2.45             -2.87              34,162,100   81.00   
WLT           72.95       +5.24             +7.74              4,146,500    66.13   
X             157.06      +5.40             +3.56              4,373,600    151.24  

** denotes ETF