SSSShhhhhh...don't tell, okay?. We're working on the home version to get out on the market before Xmas. What is it?. Maybe you've figured it out by now, why else would you guys still be here!. Well, we could all do it this weekend and we could all add to crazy U.S buyer who just doesn't know how to quit and stay out of the mall, off the streets according to the retail numbers. It's simple...get the board game of 'Wheel of Fortune' and tape over the spinning wheel and its individual dollar values with commodity stocks off DJIM's shadowlist. Replace the $500 with POT, the $1000 with X...etc..you get the drift!. Yep, that's the secret and all you have to do is keep track of the $CRX before you close eyes and spin away!. Of course, it would also help if you read the DJIM Journal and pick up on things we are watching for or anticipating wishfully such as in yesterday's final paragraph. All week we were anticipating not doing much before the employment report, but that all changed due to some precursor data to the report and so we said."..instead we may get a intraday play on Thursday..". Add to this the idea of traders fascination with 9ema, 50 ema and you needed to understand the cliff diving $CRX was at its 50ema and needed to be watched closely..." The $CRX has fallen to the 50ema quickly (980 to 943 this week), we'd love to see it slip some more and after do an intraday reversal to spell a short term end to the downside.". Simply, we just try to lead by giving our perspectives, our thought process to the next trade in the Journal and if you only want to live off our alerts, you're missing the purpose of DJIM. To us it's a Diary and even we go back and read our stuff so we don't stray from we were or are feeling and doing. Call it a bunch of 'post it' notes to self. Anyways, we just had the biggest rally in over 2 months with anything from the Retail to the ECB comments to $ strength to initial claims to an Obama rally or is it really just Hilary finally giving up as the reasons. Who knows, who cares!. What matters is these ducks lined up and mother duck $CRX was sitting on 50 ema and the belief employment numbers may only surprise to the good side. Interestingly, a surprisingly very good report may now get the reaction we don't want and the market will sell off due to noise of what the FED will do next. Be careful if you left profits on the table, it never hurts.
We'll leave stock specifics to the weekend edition of our Journal after we monitor today's action and get a clearer picture of what the rally really means to the market for the days ahead. For now, we're on the hunt for ice to get through what will be a scorching hot weekend by the lake over here.
If you click on the shadowlist and change screener setting to new highs, you'll see about 8 off our list. We'll update the link over the weekend, but it's pretty obvious the only names that should be added are the shale plays to go with PVA...HK, GDP
Have a good one, all