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YourPersonalTrader- Toronto Canada/ London UK

DJIMSTOCKS- since 2006 - Toronto, Canada/ London UK  

· Daily stock market color and insight before every U.S market-open, 'INTO THE TRADING DAY', 5X a week before 8:30 am/est. Follow our extensive trading desk experience and lead in recognizing daily event upside/ downside risks ahead of each trading day.

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Entries in MON (1)

Thursday
Dec032009

...running out of headlines

The story and the trading premise remains as we hit fresh rally highs today!  Part of the premise has been an undeniable underlying bid always present and a part has been no conviction buying or selling.  Therefore, the failure today to accelerate and breakout the November closing high of ~1113 as we still can’t can’t find the conviction buying/volume.  Does it matter?.  Not really to us as we’ve been concentrating on select stocks/ groups that keep on getting a bid…our LED stocks VECO/ CREE  had big days and joined AIXG in making higher highs, CTRP, MELI  keeps rolling on the AMZN theme, CAGC  alert had a sensational day as it tagged the Ferts  group noted yesterday (MOS POT MON) in making new highs.   We've added HEAT  noted in forum yesterday by a member to our trading list (IBD write up today).

Even though the rally seems to keep losing momo’ in this range up to 1120,  we’re not listening!.  Yesterday, we said it will be a selective stock/ sub groups pickers market going into year end and we’ll stick to that!  R2K  big outperformance up >1% of the market maybe a clue of things to come.    Our view as far as groups/ sectors are concerned is China stocks, Casinos and  Shippers  will start to attract interest to close off the year as these are pretty high beta groups/stocks fast money likes.  A few upgrades on these groups or specific stocks and these will get going…that’s all it will take!.  

We had BAC news AMC and this surprise may remove a big overhang and therefore is a positive.  So, before the NFP# on Friday,  we’re hoping this news lights a fire of sorts under the underperforming, lagging Financials..well, maybe for a day as it seems they can’t put up back to back up days for over a month now, specifically GS JPM.