Your Personal Trader - DJIM Journal 2011

Eco’ Data expectations were not met today, but they are a little to the moon right now on the heels of weeks of better than expected numbers. In all, just a blip of a day and nothing more (hardly a broader change until (if) ~1312 busts. FOMC minutes ahead tomorrow. Again, ‘inflation’ clues will be the thing market will watch in minutes as it relates to raising interest in the future.

Shadowlist

Momentum/earnings/“winners of ’10- A couple of downgrades (JDSU) took down some other Optical names in sympathy. We already talked about a ‘breather’ here yesterday. A visit to 9ema for re-entry is something to keep in mind for some names ahead. Still, JNPR, FN trade well. Software, QLIK noted earlier this month, continues its turn today. AMC- tech earnings/pre-announcements should negate weakness in SOX today.
Commodities – Slippage in Ferts (-4-7% one losses in POT,CF,LNN MOS) is welcomed off falling grain prices/foreign co’EPS #’s. Some respite will provide a quick trade very soon. Our steel-iron ore names hang in.
Financials – Euro fin earnings are keeping the U.S linked stocks in the game.
Consumer – AMC-M&A (FDO) activity a boost to market morale and many sympathy trades should emerge. considering $$ stores aren't our trading cup of tea, a lateral trade may even be WFMI after some post EPS consolidation