What can we learn from today?

...or what can we learn from the past few days?   We are learning that we can not draw any definitive conclusion about this market.    It just looks like it doesn't take much to push this market into either direction.    The giant point swing is a mere exaggeration of the uncertain status this market is currently in.   Unfortunately, all these volatility isn't creating that many tradable opportunities for most of us.     What we look for here are the plays that can sustain an upward movement for a number of days or enough of a percentage run that make the risk/reward worth while.    So once again, we are just going to take some plays as is and not to extrapolate anything from their movement today.  

here are some notables..

TNH, chemical plays are hot and given a favourable market condition, they tend to out shine most others.    Ok, so we know this is like the beta play when it comes to following the index.   This one can trade very volatile intraday, point wise and you can find a lot of resemblance if you compare to the indices.    Bottom line, this one made a NCH and it's ready to challenge that magical triple digit mark.    Trade this wild one if you can but full attention is required to make the best out of it.  TRA got a buy rating today from Matrix and that got it rolling.  Do take note of the mass defection at $100 once, we tried the other day getting to $99.75 and you could see some shaky nerves at work.

KMGB, it feels like this little one is following TNH and it popped up during last half an hour on a big volume surge.   Momentum is very much alive with this one and we have no choice but to follow through some with this one.

KHDH, this one broke out on a long consolidation base . We added and will be watching this one closely to see if it can muster some extra follow through to give us potentially more over $60.  This has been one steady player since we introduced last earning.

CUB RCCC VSNT,  sure, there seem to be a lot of popular heroes out there today but these three just keep on moving up quietly in their own way.  All three made a NCH.   We are trying our best not to let our eyes off these ones because next thing you know, they are up 10%.   In this market, if you can find something that can get you 10% with a relative low risk within a few days, you'd be considered a champ.

Like we said this weekend....  "If this was a sign of volatility for the summer of 100+/-30+/- pts days, we'd prefer it to the laziness we often start to see at this time of the year".  Opportunities abound with volatility.  Does get funny though when NGA runs on 2 day old information. That's why it's not exactly our favorite environment but it beats the summer lull.

..up the Bulls sleeve...

Who would've guessed the Bull have so much left up their sleeves?..Actually it's not sleeves, it's their back pocket they seem to have their ammunition packed away in.    It was just last Thursday after that horrible 3rd day, we said in perfect market world a 'rosy picture' would emerge with a little help.  We nominated Paulson and his B- boy.  Looks like we got their coloring book instead, as in the Beige Book to give us that somewhat rosy picture.  Add the Bears getting dizzy at the potential topping out of the bond yields it seems and a rally we go.....

...okay back to what matters in DJIM land...

AIRT, many of us remember this beast. This one used to be on fire, even before fire got the aero sector flying. Today we dragged this air-cargo play after 2 years of nada. The good thing is the float hasn`t changed since many of us traded it back in late `04.  It stands at 2.5mln or so. What got our attention is the EPS this Q.   AIRT has away of making you do some homework as in reporting full year numbers.  When we first saw the .94c for the year, we started subtracting the last 3.  Being the scholars we are, we came up with a seemingly clean.40c+ Q.  Not too shabby for a company with a PE under 15. Backlog looks good too. Potential is something we consider as much as anything else when deciding on a new entry. Potential here is thanks to its history and its potential ability to draw the right crowd.

KHDH, yesterdays late alert at 58.5ish gave us 62 by the close on another nice volume day. If this one is new to you, use the search feature to see our write up on it (DJIM #21). Again, we hope this move gets this discovered further. Interestingly, a few from that weekend write up kept on stretching it out today...RCCC and CUB.

LPHI, still wondering by close if those gapping it this morning realize it pre-announced on the 4th...lol...How else do you explain a buck gap and then nearly a 10% rise.

TNH, traded in a 7pt range providing excellent opportunities for the trader. Finally closed over 100!

DJIM #25 2007

This is definitely a helluva of a start to the summer. The recent scare of back to back to back days of declines leading to last weeks broad rally is volatility at it's best and every traders dream.  It was just on the 14th (3rd day of declines), we said lets all take a chill pill and not act hastily with our books and wait to see who/what puts the bears into the woodshed.  Seemingly, everyday since there has been something to reignite the Bull and his herd.  Friday was the crowning as tepid inflation numbers brought back hopes of better growth to go with it.  If you had the QQQQ on level2 as the CPI came out, you'd think you won the lottery before the open.  An important ingredient to last weeks rally was being prepared.  The only way to do that is having stocks in tow or watch listed to recycle into that were strong to begin with. We think we were definitely ready here at DJIM by having 'strong stocks' as the market finished its tumble.  In DJIM #24, "Even after the tumultuous week there are more than a few DJIM's still trading near highs or making them. These are the stocks we are concentrating on. The partial theme here is to always play strong stocks!. Common sense says a stock that survived last week and finished near highs is a strong stock...".

Included in this list were :         KMGB    LXU    TNH     CUB    RCCC   LPHI     GHM    MA     FWLT 

1 week % performances          21.46    8.16   19.15   4.37  19.73    25.72  10.28   9.80   5.49

Simply all you needed was a healthy dose of DJIM stocks to recycle if need be.  It is so much easier when you have the right watch list without having to seek out what is hot in a fast and furious market. This allows you time to concentrate on trading and getting in early if you were not there already.  Saves time and money.

Beyond the above DJIM stocks that we will continue to stalk, we also had a few names..old and new come to forefront last week...

One of our all time DJIM favorites, MFW was picked up on the hunch they will do something with their cash, well more of a hunch the hedgies will feel that way.

KHDH was one we didn't get much out of recently but oh boy did it show its magic for the last 3 days since alerted $58.5`s. A fast 5 points-8% to the high of Friday.

AIRT, was introduced Thursday $9.60`s area and almost hit $11 at the open the next day before digesting its previous days gap and big percentage day.

SDTH, we just couldn't buy and type fast enough it seems. We started buying the low 5`s and by the time we got the alert out it was 5.30 and then exploded to 6.25 in the next 15 minutes. We said what we saw as angle to this play and soon enough it seems Briefing saw it the same way. Fertilizer and China with earnings.   See their write up posted in Forum by a member. 

AHD MFLO VSNT pretty well round out the play list.

..most importantly today...A Happy Father's Day to our friends here!

..What was that?

Well...that was what is a typical summer snooze off!. The indices churned and churned with no catalysts ( eg. little M&A activity or Eco numbers) to serve up any conviction on either side.  Maybe we shouldn't complain after the excitement lately, but if you're doing this full time, days like this make you cringe at the thought of more listless days.    Luckily, there were a few DJIM gorillas to get some through the day. Both MA and TNH continued their extended run with 4% days, another $100+ gorilla FWLT had a nice follow through day and closed with a NCH. You wanna talk about extended, how about that LPHI!.lol.   It probably causes a few hearts to skip a beat the way it trades intraday, but at the end of the day it closes at the the days high once again.  When a stock does get extended you might get a RCCC reaction day sooner than later. Oh yeah this one has bounced nicely off 9ema around $30 last so keep an eye on for a trade possibility here at that point.

Besides adding CMED off earning early on,  there was nothing new we bought.  We actually did more selling today, reducing some position sizes such as in KHDH, now KHD on nyse just to lock in some profits. 

KMGB shrugged off the IBD omission nicely.

MFLO reversed nicely back to $23 intraday. This one is fixated on $23 and it makes you wonder how many shares can go at that price before something positive happens.

Hopefully tomorrow brings some excitement..with a bullish bias of course.

Better than nothing....

"We are looking at the Nasdaq here and will not get that bearish feeling maybe until/ if 2590ish is broken end of day.  What we expect here is the gap from Friday to hold and some buying to come in tomorrow.   Now, if we get some morning news to favor the Bears, well then we ain't going to get the buying, are we?." 

Well...we didn't get any news noise in the morning but we still got an early continuation bump from yesterday, which was hardly a surprise considering what was a sizeable drop.  By 10am we hit that 2590ish mark (2586 low to be exact) and the rest is history.  Last night we thought there was no reason to fret, simply the bears caught the bulls napping after 3 days of churning yesterday.  That's the way we felt while it was all going on and later last night after catching our breath.   If it was the yield climbing yesterday...why didn't we go lower as it climbed to 5.19% today?.    Are we satisfied with today's reversal?.   The answer is no, but that could change tomorrow.   You see DJIM stocks have a way outperforming the indices and not performing on par when the market rallys.   We have seen this time and time again and have written about it many times.   Despite the rally today, it was really only for the techs on the Nasdaq...even the big caps really didn't perform to NASD snuff.   There were a few DJIM's that bounced nicely off low's...MA 6 pts...TNH 12 pts..FWLT got in the grove late for 3 pts, but the problem was with many of the small-micro caps that have been running here that didn't perform as we would have liked.   This list includes SDTH, KMGB, CMED, LXU, AIRT, VSNT etc. but a few did like LPHI, TBSI, GHM  (34k vol. woo hoo).   Still..besides the few it was uninspiring in the scope of things, but at least yesterdays fall did not continue today.   So..maybe we shouldn't be so picky....Yeah right!.  Let others and their niches have a good time while we are predominately left out.   NO WAY, JOSE!

If today wasn't just a blip like the fall yesterday was....well then we expect some action in the DJIM stocks that did little today to move tomorrow. This is even if the market digests today's gains and does little all day...but we do have the Blackstone (BX)  IPO tomorrow, which should help the karma on the trading floors.  Maybe it can spread...

.

It would've been a lot easier...

if all we had to is to check the final box score of the market action today.    Oh yes, it's just another logical follow through of Friday's decline.....  However, today's action is just anything but calm!!.    The key of today's action is the reversal of all of the intraday gain.    Despite the fact that both indices did not close near the low, it is the shear volatility that gave many traders that unsettling feeling, it is something we all need to care about.   It's whacky out there and seemingly many are following the major indexes, even the micro/small caps start to follow immediately,  which is making this out of whack in some respects.  Sure, this is summer trading but we are still few days before July kicks in.    What it means that it is going to be another long summer for traders unless earnings gives us a jolt!    We also want to point out that both Dow and Naz are getting very close to the 50 ema and that is something some of us may need to keep it in our mind for.

As traders, we definitely liked the way the day started but do not like the way the market finished or what transpired mid day..    Sure, many stocks on our watchlist still ended up in green territory but many of them are quite a way off their intraday top.    Here are some interesting ones...

LPHI, if we all knew what this one was capable of, we'd all have parked lots of cash into this one when we first noticed it.    This one pulled another impressive finish today and at this point we are not even speculating how much higher it can go.    One thing for sure though, is that this one is super extended and any long trade here requires super caution to execute.   We'd really prefer a pullback from this one and we'd just have to wait and find out when it will happen.

FSLR/JASO/LDK,  in terms of solar plays, it's getting more obvious that these three are the leaders and ones we'd be looking to play to this time around.   And out of these three, the best one is still FSLR and there's no sign of its slowing down this original DJIM solar play.    These are niche plays that people tend to trade...irrespective of the index movement.

TNH, lately, it seems this is really the only chemical co. that mattered in the world of stock trading.    We really liked its action today and especially its finish.    We do want to point out that this one can be very volatile when it's having a bad day.

CMED, maybe we just need to give this one some more time and some more room before it's done digesting its recent move.    We will be keeping our eyes closely on this one as the breakout could literally come any time. 

Almost identical...

The index action today is... you guessed it.. almost identical as yesterday's.    The only difference is that today's point range is not nearly as dramatic as yesterday's.    Individual action, however, is not as bad today compared to yesterday.   As you can tell, this is somewhat comical that we are actually analyzing and comparing daily movement.    Such is summer trading, unfortunately.    If we really want to sit inside an air conditioned room on a hot day like today, we just couldn't help but trying to digest every little bit of volatility.    Is the earning season almost here yet? lol

Lets take a look at some of the strong plays out there in what is otherwise a very shaky, on the edge of its seat market....

TNH, some of us may actually get tired of even looking at this one on a daily basis.  The truth is, it's up 45% since our latest alert of around $90 about 3 weeks ago and it's just been a monster ever since it broke $100.   Folks, forget about those cheapies that may get you a "sizable" position.   Park a few hundred shares in this one and you'd be all set for this summer.    Ok, it isn't that simple but we do want to stress that this is the kind of play we favour the most.    So eventually this one will get sold off so we are keeping our stops very tight.   

LPHI, ok, so we don't have any clue why it's doing what it's doing ever since the earning report.   We liked this one a lot back when it reported a few weeks ago but nothing stuns us more than the latest action this one is getting, irrespective of market environment that is.   Now for a stock to pull a double from $20 range in as little as a month, is just something we have to give our highest respect for.   Even though this one has been on our play list for a while, we do feel that we haven't given it enough attention/time to fully taking advantage of its performance.   So what is our game plan now then?   The higher it goes without a pullback, the more cautious we get on any slight downtick.   In fact, it does feel that a strong pullback is imminent.   So if you are still in this one from day one, make sure you monitor this one very very closely.

RCCC, one of our favourite plays the past few months, came back and got a nch today.  This one, unlike LPHI above, has had its share of consolidation last little while and we are just not as cautious when chasing this one.    For what it's worth, we think there's potentially some more upside on this one.

TBSI, those darn shippers just can't all move together.   No matter, the idea of playing sector is always go after the top performer.  In this case, we feel this one is the best performer in that sector, much like TNH and FSLR in their respective sector.    This one made a new high and we followed through with some shares.

HOKU, some of our readers have brought this one up and we just want to say that when looking at a play like this one, it is crucial to understand the players behind the action.   This one has traded twice its float two days in a row and there's no doubt this belongs to the day trading crowd, for the most part.   If you really want to try this one, make sure you keep your eyes on the 5 min. chart and as well as the volume, and hope somebody else buys it higher from you.

so it comes at the middle of the week...

Of course, we are referring to the strong action this market has given us today.    What started as a shaky morning turned to a very strong and positive finish in the afternoon.   We are very impressed and we like the action market exhibited today.     At one point in the morning, the breadth on our watchlist was so terrible that we only found a few greens with next to no volume.    Does this mean that the recent slide of the indices is halted?   At this point, we aren't absolutely sure but we think today's action is one step toward the right direction.    Folks, this is summer trading so we shouldn't look too far beyond what's immediately in front of us.   Still, the nerves quieted down some.  Not so much edge of the seat about to fall over by the close today feeling.  Here's a hint to the market, you've seen it mentioned plenty around here.  PAULSON.  This is one name the big boys want to speak out load.  He's the insurance policy for the market.  Today was no different as he took it from red to green.  Others will tell you otherwise for today's buying.  If you believe there are higher forces controlling the fate of this market, well then you should pay attention when he speaks.  The timing is always impeccable, over and over again.

Here are some notable plays to keep close eye on...

LPHI/TNH, ok lets just get the negatives out of the way first.   Isn't it funny that when market is having a good day while these two get hammered badly?    Well, didn't we see it coming from a mile away? lol    As we have noted in recent journal and even in last night, we feel these two may get sold off imminently due to their very extended action.   We hope you did what we said and kept the stops tight.    Once the stop hits, out it goes.   There's really no point to wait for a bounce for a better exit point.    In terms of getting back in, we feel that the most recent phase of run up may be over for these two and we'll have to see how they consolidate the next few days to determine where we may get back in. There is no hurry. If a stock deserves higher prices, it will show it to you soon enough. Jumping in the first sign of weakness is not our game.  It's only an excuse for missing TNH from something like the 60-70's or so here or when LPHI was alerted almost 100% lower than a month ago.  If you snoozed, don't try to pick up the pieces later in the game at first sign of weakness.   It's like going for sloppy seconds, let it simmer for a bit before proceeding.  It will tell you if you should.

KMGB, unlike the two above, this one has not had the kind of monster run-up and it ran into consolidation recently.   We like the action today and think that it may resume its upward action and challenge its old high.

RCCC GTLS, put in a nice day all around.

DDUP/SCOR, today's definitely an IPO's day and these three all traded really well since their opening price.   We are keeping them on our active trading list to trade on any kind of meaningful follow through.

JASO, solar plays seems to taking turns to shine and this one is taking its turn today.    Although we like its action but we are only limiting our action to intraday trading.   This one is prone to quick sell offs so we constantly keep that on the back of our minds.

LXU LDK, these two had a late day surge and we are going to be watching it closely tomorrow morning to see if there's any potential for breakout action.

AAON SPEC are past DJIM entires that should be included in a trading watch list now.

DJIM #27 2007

One thing is for sure, the only thing that can seem to wake people up in this market is "earnings"!    The past week was filled with some dramatic volatility.   In the early part of the week it seems that market was ready to give up.    We had back to back days of strong opening and a very weak close.    Both indices were flirting around 50 ema and it just looked that shaky.    Come into rescue toward the end of the week is of course the prospect of the earning season.   The fed decision is once again a none  factor in this market this time of the year.    We feel many people are sitting on the sideline waiting for some good earning opportunities to get into.     From the big cap earnng front, RIMM definitely sets the tone as well as the benchmark for others to follow.   20% gain in one day given RIMM's market cap is still a very big deal, regardless of its momentum status.   To put this into perspective, GOOG has to gain over 100 bucks in one day just to gain 20% and that'd be just something unthinkable at this point of GOOG's growth cycle.

So what are we really looking forward to at this point?   Earnings, of course!   The earning season usually starts with Alcoa kicking off and that comes around second week of July.   Our game plan is the same as before, go after the winners early and aggressively.   If the apparent "winner" does not get the kind of attention we wanted, we simply move on for our next kill.    With earning season, we'd usually be busy enough to trade multiple earnings winners at same time.  So rest assured, if one doesn't work out, there'd always be the other one or two that will work out.    Now the key in trading that kind of strategy, is to stay with the winner, at all time.      We had a little taste of the earnings drive last few weeks from the likes of LPHI KMGB TNH FSLR RCCC TBSI... etc.   All of them have returned substantial gain given our usual time frame.      So be prepared and be ready, both financially and mentally, because the next 3 to 5 weeks of trading is probably the only trading matters in the summer.

Here are some stocks that are worth reviewing over the past week....

PENX, one thing about this earning winner is that it never had this kind of volume in its past quarters.   Perhaps, this quarter's number is just that good, or it is the fact that it's in a sector people really go gun ho about.   In any case, we the momentum traders may also have something to do with its latest volume surge.    Well folks, this baby is in play and that's all you need to know.     Remember our favourite strategy,  if you missed the first runup lets say from $24 to whatever price it stalls, the first pullback should always be bought, aggressively!   We are fortunate that we caught majority of the move so far but the rest of our game plan is still the same.   Just because we did well the first run up doesn't mean that we can slack off on the second time around.    So keep a close eye on this one and trade on the long side aggressively.    Always put the 9 ema up and imprint it in your mind to know where it is at all time.    Nobody wants to miss another RCCC or LPHI type of move again.    The funny thing is, at this point, we don't think people even care about their actual eps number anymore.   There's really no need to extrapolate their number to calculate a "proper" valuation price or assign P/E or whatever.    Know this, this one is in play and professional traders like us and others are trading sizable shares to drive this one higher.

KMGB, almost a month ago, this one came out with a strong report.   One month later, this one is roughly 30% higher, and it closed with a NCH on Friday.    Ok, we didn't stay in this one the whole one month.   As far as we did, we basically traded two runup.   The first runup was from the initial earning/IBD and second runup, which we are still in it, started couple of days ago as per our alert.    The coming week should be interesting since this one did not make it to IBD100 again but we think this shouldn't be an issue any more.    Float is pretty tiny for this one so as long as the chemical sector is in play, we'd like this one's odds to go much higher.

TNH, speaking of chemical sector, this one is probably the epitome of chemical stocks during the last three months or so.    The recent 10 point drop in one day may set a warning sign of its extended runup but we are still keeping this one as one of our favourite trading stock.   If you look at its chart, it hasn't closed "below" 9 ema ever since the breakout area of $90 and we think as long as this is the case, this one is still relatively safe to play.    The only thing of concern lately is that the volatility is getting to the extreme side of things and it may eventually crack its uptrend completely.

TBSI/DRYS, when shippers move, they move together and we like these two the best.   They both notched a new closing high on Friday and we'd see if this generates a new round of enthusiasm in the coming days.

FSLR/JASO/LDK, so once again solar plays have been hot lately.   Out of all of the solar plays we have touch based before, these three are the closest to their respective all time high.    If anything, we'd be trading among these three when the sector is having a good day.

The importance of holiday trading...

To say that we had a pretty good day today simply does not do its justice.    What we had today is one of the best days in 2007, in our opinion.   This is not an exaggeration.   Of course, you still have to be familiar with all of the names that we have been trading during the past few weeks, in order to fully appreciate what we feel.     What caused the market action today?     Two words, holiday trading!    Still, this is just not just any holiday trading.     In order for a good holiday trading week to work, we definitely need some ingredients.    One, there has to be money waiting to be put into work.   Two, market has to be near at or close to the high in order to attract the momentum.  Three, there needs to be something optimistic(earning season this time) that people can look forward to.    Basically, we had just about all three ingredients and we kicked off this holiday trading week with literally a bang.     This is back to the topic why we are stressing the importance of holiday trading.   Now we know what makes a good trading environment, and if you are like us dedicated professional, or if you simply have a passion for trading, this is the kind of week you just CAN NOT let go by.   Folks, taking a much needed week off and enjoy the weather and other activities is fine if you need it badly.   For others, this is a week where you can probably take some serious revenge from this market by profiting from quite a few opportunities.

Yes, market is pretty forgiving right now and many traders are doing just fine.    We at DJIM, however, feel that this is the kind of time where we have to absolutely out work and out perform other traders in order to make our lives a little easier when the going gets tough.    See, it's always about making a killing during an easy trading environment and survive during a tough environment.    If you can't make a meaningful percentage gain in this kind of market, what odds do you really have when the market heads the opposite direction.

Our game plan, is to lock in those potential huge winners with sizable positions and ride it on the back of this favourable condition.     We have been ultra aggressive today in terms of adding positions(mostly familiar ones) to our portfolio and doing it with a much bigger size than we'd normally do.      There are simply too many stocks to name at this moment so we are gonna highlight some worthy ones tonight....   if you have built your watchlist around DJIM names last few months, you'd know which ones are doing good today.

PENX, what may take some stocks a year to accomplish took this stock only three trading days to achieve.     Sure, I'm only talking about its 35% runup since the time it announced its earning, excluding its gap gain of 20% off the news.     This one is just HOT!     This stock actually surpassed our most optimistic expectation up to this point.    So, the rest will be just so easy and simple at this point.     We'd stay aggressive with this one.

TNH, holiday trading brings out some animal spirit out of many stocks and we didn't expect anything less from this one.   This one got a NCH today and closed near its high of the day.    Given its past performance we'd expect some good follow through off a good move.

LPHI, this one still needs to battle over 9 ema and today may be a good cause to get back in some with the assumption that the play is not over.   We did buy alittle back today but we'd watch this one closely in case if it shows any kind of weakness.

CUB, for a while, we felt the play might be over but today it literally breathes new life into this one.   It took out the $30 mark convincingly and it looks as though it's ready to start a new leg.   Again, this is an unusual kind of week and we'd always bias those that breakout and make new highs.

FWLT, this one spent literally a month during its current trend line between 100 and 110.   Currently sitting at the upper end of its trend line with a strong close, again given the bullish sentiment from the market, we feel this may be able to breakout cleanly.   We bought some today and looking for the breakout.

RRST, we actually traded this one a while ago but it didn't do much for us.    We are back in it again and thinking this time it may get some momentum going.    This one actually has a pretty high IBD rating(98 95 as of tonight) and we think with the recent RS, it can potentially move up in ranking.

FSLR/LDK/JASO/TSL,  so we added TSL to our mix of solar plays today.    This group basically goes with every other momentum plays.    When market is up, count on this group to shine.

Some of the other stocks closing at high or strongly and we've been trading actively include DRYS AZZ RIMM GTLS RCCC SNHY BTJ TBSI TRCR MR EDU...

.6 .6 .6%

Guess we should take those % gains from the DJIA/SPX/NASD yesterday as a sign from the devil that we are going to have a down day to follow.  It wouldn't be a surprise, but on the other hand that is what most expected yesterday and we just didn't get it.   The herd was playing catch up and the profit taking didn't hit till quite late in the day.  By this time, we were sitting pretty as we had done as promised before the open and that is, " we will be selling lots and lots of yesterdays buys before catching our breath and possibly repositioning".   The good thing about yesterday is the morning catch up lasted longer than anticipated and it gave ample time to sell and get a price.  The repositioning of the sells really didn't happen as the market slid too late in the day giving the impression a little more selling might continue into today.   So why reload at that stage, is our thinking.  Still, there were some stocks worthy of intraday plays and others worth holding to see what's further up possibly.  Also, instead of adding to stocks recently talked or alerted to the day before like the GS that went to a morning high of $207, EXM mid 48's, DRYS almost 76, BIDU almost 285, TNH to 123 which we sold in the morning...we went went after a MR late in the game because it was making another new charge to highs and because the Chinese stocks is one area that held up the best during the day.....

EJ, is one we keep on holding. Yesterday, we noted possible accumulation. This was even more evident as this one churned and rolled all day in even another tight range.  Either this a forward to ML's initiation or something else, or its just a fine piece of China making a dandy cup and handle.  This is not trading as before when volatility was huge, don't ever forget those days. A shakedown is always possible and don't all get shaky knees if it comes.   We've had a nice week and considering Chinese stocks are holding their own, like JRJC, MR its worth some more time.  As said before, we added back MR and as far as JRJC, we are only flipping it here and there.

LULU, MELI, and even WX, interestingly the recent IPO's had very nice days, actually some of the best out there and we have put these on our potential trading list.  MELI, is a new name here.  It got initiated yesterday and is of the foreign AMZN, EBAY biz nature.

GS, as a follow up to possibly hold a portion into earnings. We got a very nice price/ gain and after MS's report, we'd prefer to stay out and play it in the morning if they announce nicely.  For markets sake , we hope its great and so we can live with any points we might miss.

ICOC,  we'd just like to point out the concept here has always been playing the possibility of "IBD100 inclusion".  The main idea is finding and getting to them early and going big early into the $15 level late in the week.  Remember NGA, GTI, IDSA even SYX???.  If not go back to April, use search and see the prices we started and read up on the strategy.    So, if a stock is already at $15+ on a Wednesday, it really offers us little incentive at that price.   Also, do consider that a $15 stock with a beautiful run has been drummed around and pushed by either other stock forums, hedgies...or whatever and if they use the strategy as us in the NGA, GTI plays, guess what they might be doing here?.  Well, at least we would be dumping to newbies after getting 1-2-3-4-5 pts. We'll watch for now and if we get a nice dip we might add ..anyways, we'll see how it trades these last 2 days and deal with it hour by hour.

At this point, even if we didn't reload our sells late in the day, we'd look back to these names as soon as we see the buying of pullbacks starts in the market.  And it will as any dump will be seen as a buying opportunity for those who missed this move and think this market will be going higher in the days, weeks and months ahead.  Buying the dips in this market will again occur.