Tuesday Recap

Markets again closed in a quiet like manner. Volume was again tame as should be expected for the remainder of the year. Gold and silver stocks were among the days best performers. Gold climbed above the $1400 dollar level and silver rose 4% to a 30 year high. Breadth was negative.

Stocks near specific buy points are: LOW @25.96, MT @38.90, BCSI @30.76, PAYX @31.39, TC @14.25 all cup with handles. FAST @60.25 in a 3 week tight pattern and USB @28.53 in a cup base.

Stocks near their 50 day MA are: ALV @76, F @16, TRW @50, WYN @29.50, NBL @83, PTEN @20.50, CTXS @66.50, PMTC 22.10, RHT @44.25, CRM @129, VRSN @32.10, RVBD @32, TDC @41, TRMB @38, EXPD @53, KSU @46.50, UNP @91, JCI @37, JWN @41.25, UA @53, COH @54, GSM @16.60, TAP @49, BRCM @43, OVTI @28.50, TXN @31.50, PAY @36, AGP @44, XXIA @16, BMC @46, HRC here, MCHP @34, MSCC @22, MIPS @14, EMR @56. Stocks that can be bought as they break above their 50 day MA are VNO @84.25 and AMT @51.50. PBR can be bought above its 200 day MA @36.80.

KKR is drifting back towards its 13.85 buy point in a flat base. STT is forming a handle.

ETFs near entry or support levels are: TBT which rallied 4% today after support at its 200 day MA. FXI also found support at 42, its 200 day MA. GLD has rallied off its 50 day MA.

Stocks showing weakness are: RES under 18, its 50 day MA. PVH lost its 50 day today. MRX found resistance at its 50 day. LTD is now looking like its living comfortably under its 50 day MA.

Good luck. Will be taking a break until the New Year. Have a happy and safe New Year.

The author owns CAKE NVDA ARMH CHRW X DE VRSN KKR WCRX SDS. Short TTM EBAY.

Monday Monday

Markets once again closed in a boring fashion. Again, as the old adage goes, never sell a dull market. Volume will not pick up until the new year commences. Until then, breakouts will be few and far between. They may move past buy points but the lack of volume will lessen the impact of the move. The markets did prove their resilience by finishing on their highs of the day after early weakness due to the Chinese interest rate hike.

Stocks near specific buy points are: ADP @47.27, LRCX @53.01, FAST @60.25, PCAR @57.85, FCS @15.90, LLTC @35.17 all 3 week tight patterns. Flat bases are WSM @36.92, RAI @33.51. Cup with high handle is ANR @56.52. Cup with handle is APC @71.99, MTL @29.84 (handle needs 2 more days to form), X @59.56 (handle needs one more day to form). CCL is holding just above a 45.00 buy point in a flat base which occurred on 12/21.

Stocks near their 50 day MA are: WYN @29.50, MAR @40, HOT @58, PCLN @400, CPX @28, XOM @70, NBL @83, RIG here, UPL @46, PTEN @20.50, NFLX @178, SIAL @65, DD @48, GOOG @600, TDC @41, IBM @144, EXPD @53, KSU @46.25, UNP @90.75, ABX @50.40, RIO @68, GFI @17, VALE @33, JCI @37, SBUX @31, JWN @41, UA @53, COH @53.75, NKE @85, OVTI @28.50, AGP @44, BEAV @36, MSCC @22, MIPS @14, EMR @56. Stocks that found support at their 50 day today are NFLX MCHP ORLY CAKE M BRCM NETL HRC. Stocks that can be bought as they move upward thru their 50 day MA are: AMT thru 51.50, CP thru 65.25, MRX @28.25, VNO thru 84.25.

STX RIMM are both finding support above their 200 day MA. ZION is pulling further away from its 200 day MA as it has proven support there. MCD LOGI are both trading below there 50 day MA and should find support at there respective 200 day MAs. MCD @73, LOGI @16.85. BBT can be bought at 27.30, as it breaks above its 200 day MA.

HES SLB both trading in a very tight range. Very bullish. PAY is holding its gap up. PBR could be building the right side of its base. It recently traded above the 50 day MA and now looks ready to challenge its 200 day @36.40.

ETFs XHB XLF both building right sides of base. TBT found support at its 200 day today. GLD finding support at its 50 day MA.

CMG lost its 50 day today and RES can be shorted under 18, its 50 day MA.

The author owns CAKE NVDA ARMH CHRW X DE VRSN WCRX KKR SDS. Short TTM EBAY.

Sunday Sunday

Markets were mixed Thursday before the holiday closure Friday. Volume as expected came in below normal. For the week the S&P 500 finished 1% higher, and the Nasdaq 0.9% higher. Economic reports were basically yawned at Thursday. More M&A activity emerged Thursday with ROVI buying SNIC and JAS looking to be taken private, following JCG recently.

Stocks offering specific buy points include: 3 week tight patterns. CY @18.36, NLC @32.72, QCOM @50.10, LRCX @53.01, PLL @51.11, ARBA @24.57, TEN @43.81, TRW @54.93, MAR @42.78, TCK @58.59, CBI @33.59, ADSK @39.90, CSX @64.90, UPS @74.04, FAST @60.25, ATU @28.35, PCAR @57.85, FCS @15.90, LLTC @35.17. Flat bases are : NOV @66.21, NBL @86.99, SUN @41.33, IBM @147.63, CP @67.13, UNP @95.88, M @26.42. Double bottom with handles are: CREE @72.95, NETL @34.45, CRUS @17.06, GCI @16.27. 4 week tight patterns are: F @17.13, SBUX @33.25, ADI @38.70. FDX @96.33 in a cup with handle base and MOS @74.35 in a cup base.

Stocks nearing 50 day support are: WYN @29.50, CPX @28, RIG @68, RES @18, HUN @14.40, PTEN @20.50, INTU @47.75, QSFT @26.40, CRM @128, VRSN @32, EMN @80, CE @38, DD @48, NTAP @53, RADS @19, TDC @40.50, TRMB @38, EXPD @52.25, KSU @46, UNP @90, ABX @50.25, RIO @68, GFI @17, VALE @33, JCI @37, ORLY @59, CMG here, UA @53, COH @53, NKE @84.50, KMX here, XRX here, GSM @16.50, BRCM @42.50, OVTI @28, MXIM @22.75, AGP @44, EFX @34.50, BEAV @36, BMC @46, HRC @40, MCHP @33.50, MSCC @22, MIPS @14, FISV @57, TQNT @11, EMR @56. Stocks that can be bought as they break thru their 50 day to the upside are: EPD thru 42.25, MRX thru 28.30, LOGI thru 20.

Stocks nearing 200 day support are: AKAM @44, DTV @38.70, RIMM @58, NEM @58, EGO @17, URBN @35, PNC @58.50. Stocks that can be bought if they take out their 200 day MA to the upside are: SWN thru 37.75, BBT thru 27.50.

Gap ups this week to keep an eye on for continued strenght are JBL ARMH IDCC.

ETFs near support or breakout levels are: OIH thru 140, could be real good. TBT holding its 200 day @38. FXI 200 day MA is 42. SMH has a 33.36 buy point in a four week tight pattern. USO is solidly building its right side of base.

Stocks showing weakness are: WYNN ARUN VIT PM all losing their 50 day MA. PVH under 65 can be shorted, its 50 day MA. LVS under 45 can be shorted also its 50 day. PSA can not get back above par.

Good luck.

The author owns CAKE NVDA ARMH CHRW X DE VRSN WCRX KKR SDS. Short TTM EBAY.

Thursday AM

Markets continued their slow and steady ascent Wednesday. As true to holiday fashion volume remains slow. Leaders such as AMZN PCLN continue to act well. Leading groups Wednesday were banks and homebuilders, two laggard groups. No earnings reports are scheduled for Thursday but durable goods, personal income and spending, jobless claims are all out Thursday.

Stocks near specific buy points are: SBUX @33.19, HAS @5.27, YUM @51.40, ADP @47.27, PCAR @57.85, all 3 week tight patterns. Cup bases are AA @15.25, AMTD @20.68, PAYX @32.92, BX @15.59. Cup with handle is EMN @83.13, and IBM @147.63 in a flat base.

Stocks near their 50 day MA are: NBL @82, RIG @67, PTEN @2O.25, DD @48, UNP @90, ABX @50, BRCM @42.25, SIMG @6.50, BEAV @36, HRC @40, MCHP @33.50, MSCC @22. NKE @85, after its earnings related fall and UA @53 which fell in sympathy to NKE miss. Stocks that are nearing their 50 day after swimming below it and can be bought if they get back above their 50 day line are: CP thru 62.25, IBN thru 52.25, LOGI thru 20.10. ALTR found strong support at its 50 day Thursday.

Stocks near 200 day MAs are NEM @58. RIMM STX both finding 200 day support right here. ZION PNC have bounced off recent 200 day support this week. BBT can be bought thru 27.30, its 200 day MA, which has been resistance.

Stocks showing weakness are WYNN VIT which lost their 50 day Thursday. MRX continues to find resistance at its 50 day. ROST can be shorted under 62, its 50 day. RADS TIBX both had outside reversal days. TIBX on earnings.

Portfolio changes were selling QLIK for a push. Outside reversal day.

Good luck.

The author owns CAKE ARMH NVDA CHRW X DE VRSN WCRX SDS. Short EBAY TTM.

Tuesday Recap

Markets rallied Tuesday as stocks delivered solid earnings and M&A news. Volume did come in below average, obviously not out of the norm for this time of year. Breadth was healthy and leading stocks continued to perform well. Oil, steel, and ags sectors outperformed. After the close earnings reports were mixed as NKE RHT traded lower and TIBX traded higher.

Stocks near specific buy points are: APC @72.09, JWN @44.05, NVDA @15.43, EFX @36.09 all cup with handles. Flat bases are IBM @147.63, WSM @36.92. Cup bases are MTL @31.89, RAI @33.51. Double bottom with handle, CRUS @17.06. 3 weeks tight pattern is TXN @34.03.

Stocks nearing their 50 day MA are: CVLT @29.50, ABX @50, GFI @16.80, DOV @55.25, BRCM @42.25, WCRX @22, BEAV @36, APH @51.25, MIPS @13.50, TQNT @11. Stocks that continue to find recent 50 day support are: NFLX WYNN RES WNR EMN ARUN UNP PFE SKS LTD OVTI CEVA FOE. Stocks nearing their 50 day MA and attempting to retake them are: MOS @69.50, LOGI @19.95. Put in buy stops on MOS LOGI at those prices. As always demand strong volume.

Stocks near their 200 day MA are: DTV @38.50, CREE @64, NYX @29.50, ZION @22.50, RIMM here.

Gap ups from upside earnings reports that continue to perform well are: LULU WFMI ANF PAY BRCM JOYG FNSR COH EL FL DKS.

ETFs near buy points are: SMH @33.36 in a 3 weeks tight pattern. MOO @53.00 in a cup base. XLF XHB both building the right side of their bases. KOL JJC acting strong.

Stocks exhibiting weakness are: AMT which stopped today at its 50 day MA. PM lost its 50 day today. VIT can be shorted @36.25 as it nears its 50 day MA.

Portfolio changes today were: Long KKR @13.85 as it broke out in huge volume from a flat base. Added to our ARMH @19.38 as it broke out in huge volume from a cup with handle base. We originally purchased ARMH 11/19 as it retook its 50 day MA in strong volume. Shorted EBAY @29 as it lost its 50 day in above average volume. TTM on a very short leash here.

The author owns CAKE ARMH NVDA CHRW X DE VRSN WCRX VRSN QLIK SDS. Short EBAY TTM.

Monday Monday

Markets closed once again in a dull fashion. Volume tapered off compared to Fridays quadruple witching. Leaders are again acting well including AMZN which broke out from a 3 weeks tight pattern in strong volume. After the close ADBE JBL both rose after giving positive earnings reports. Tomorrow companies such as NKE RHT TIBX will report.

Stocks showing specific buy points include: RS @57.29, FDX @96.33, ARMH @19.38, NVDA @15.43, EFX @36.09 all cup with handles. CREE @72.95, NETL @34.45 both double bottom with handle patterns. ETN @101.89 a 3 weeks tight base. BAM @31.99 a cup without handle, and KKR @13.85 in a flat base.

Stocks near 50 day support are: APC @64, NBL @82, PXP @29, PTEN @20.25, NSC @61.70, KSU @46, UNP @90, BHP @86, SWC @19, VALE @33, SKS @11.25, BRCM @42, TXN @31, SIMG @6.50, AXTI @8, BEAV @36, MSCC @22, HUN @14.20, HRC @39.75, PCAR @ 54, TQNT @11, MCHP @33.25. Stocks that have found 50 day support recently are: PCLN ERF EMN RAI OVTI FOE WYNN NFLX. SUN can be bought thru 39.50, if it can reclaim its 50 day MA.

Stocks near 200 day MA are: BUD @54, BBD @18, MCO @24.80, NYX @29.50, GCI @14.50, ITUB @22, SPLS @21.25, RIMM PNC both here.

ETFs near buy points are: OIH @140.09, RSX @37.50 both in a 3 weeks tight pattern. TBT right at its 200 day MA here. FXI 200 day is 42.

Stocks showing weakness are: OPEN under 68, EBAY under 29, ROST under 62 all their 50 day MAs. VIT can be shorted @36.25, its 50 day MA. AKAM looks headed to its 200 day MA @44. Fell under its 50 day MA again today.

Portfolio changes are: Long QLIK @26.57, taking out a cup base. Short TTM @30, as it hit its 50 day MA. We got stopped out on the LVS short for a one dollar loss.

The author owns CAKE ARMH NVDA CHRW GPS X DE VRSN QLIK WCRX SDS. Short TTM.

Inefficient Government

Recent developments within the Obama administration must be applauded. Did I really just say that? Free trade agreements with South Korea, extending Bush era tax cuts, a reduction in payroll taxes all demonstrate a willingness to compromise. His slight move to the center to appease his base (which is taking him to task for his actions too) is refreshing. Although we must recognize that it is one that was forced upon him after the mid term elections. America spoke loud and clear that they did not like the direction the country was heading in. And it certainly did not like the expansion of federal government. Inefficient government that is.

The Department of Education created by Jimmy Carter in 1979 has never seemed to live up to its billing. Ronald Reagan attempted to abolish the department due to its inadequate performance and squandering of money. In his own words, Reagan said, "education is the principal responsibility of local school systems, parents, teachers, citizen boards and state government." He went on to declare education that would "insure the local needs and preferences, rather than the wishes of Washington, to determine the education of our children." The OECD just this month echoed Reagans dissatisfaction with the program. American students are falling further behind the rest of the world. We rank below average in both math and science compared with other developed countries around the globe. My family is full of teachers, and this is in no way a breakdown on their part. Rather an inferior curriculum that government dictates.

Another department we have Jimmy Carter to thank for is the Department of Energy, conceived after the oil crisis in the late 1970's. As America sends billions of dollars every year to unfriendly nations, we have vast resources right here at home. Reserves that could ensure our energy dependence for decades to come, are off limits because of restrictions imposed by government. Energy Department statistics indicate up to 80% of off shore and 60% of onshore drilling sites are prohibited from access. These constraints are sending valuable jobs overseas. Almost every nation on earth is extracting oil and natural gas from their floors, ironically with our technology. If as the government states that drilling is unsafe, why are we supporting Brazil to drill with US taxpayers money, in waters three times as deep as we do in the Gulf? As Martin Feldman, a New Orleans federal judge ruled against the governments enforcement of off shore drilling in June of this year, said "if some drilling equipment are flawed, is it rational to say all are? Are all airplanes a danger because one was? Are all oil tankers like Exxon Valdez? All trains? All mines?" Two thumbs up for Judge Feldman.

Do Fannie Mae and Freddie Mac ring a bell? These two GSE (government sponsored enterprises) are widely thought to be partly responsible for the recent economic meltdown. Requiring hundreds of billions of US taxpayer subsidies to stay alive, they continue to bleed money at an alarming rate. Another shining example of government failure. Amtrak. 40 years of losses and still requiring federal funding. The USPS. An agency that receives government assistance, is excused from paying almost any taxes, and can borrow from the government at below market rates. And it still can not make a profit, hampered by private competition which are not afforded all the luxuries of the US Postal System. The US Census Bureau just reported its fiscal situation is in dire straights. Costs well beyond projections. The Department of Transportation underestimating budgets and finishing projects (such as tunnels, bridges and roads) way behind schedule. I can go on and on but I think you get the message.

When I began my idea for this article, I tried real hard to determine any segment of government that was effective. The military was high on the list. We must comprehend that Washington is filled with plenty of academia, and devoid of practitioners. We need employees that have been through the ups and downs of the business cycle. People that have met budgets, hired workers and adhered to deadlines in the real world. Government is out of touch, power hungry and incompetent. And they want to take over our healthcare system, the best in the world? Thank goodness for Virginia judge Henry E. Hudson who ruled this month that parts of Obamacare are unconstitutional. Let the overpowering grip of government start is slow and steady descent.

Friday Night Charting

Markets today finished again in lackluster fashion. Again the adage, never sell a dull market. Volume grew due to quadruple witching Friday. Tech outperformed as both ORCL RIMM finished in the black. Both those previously mentioned did finish on their lows though. For the week the Nasdaq and S&P both finished up very slightly. On the positive side leading stocks acted better today.

Stocks showing exact buy points include: All these will be 3 week tight patterns. F @17.02, ETN @101.89, WLL @116.34, PCAR @57.85, APH @54.17, SOA @23.53, AAPL @325.16, IBM @146.40, NSC @63.77, JRCC @24.09, SBUX @33.19, HAS @50.27, ADI @38.70, PAY @41.57, ADP @47.27. Flat bases are: NBL @86.99, CP @67.13, SKS @12.32, KKR @13.85. Cup with handles are: FDX @96.33, NVDA @15.43, EFX @36.09. Cup bases without handles are: QLIK @26.57, CNI @68.09. As always demand volume of 50% greater than the daily average.

Stocks near the 50 day and the corresponding prices are: PCLN @390, CCL @42, ANR @49, CPX @27, APC @64.50, DVN @70, XOM @69, BTU @57, RIG @67.50, UPL @45, PTEN @20.20, CVLT @29.20, MCHP @32, QSFT @26, DD @47.75, NTAP @52.25, EBAY @29.15, AKAM @50, CSX @62, KSU @46, UNP @90, BHP @85.50, ABX @50, RIO @67.50, SWC @19, JWN @41, XRX @11.50, URI @20, SCCO @44, PM @59, ARMH @18, BRCM @42, OVTI @28, SIMG @6.50, BEAV @36, TQNT @11, MSCC @22, MIPS @13.25, FOE here.
Stocks that found 50 day support Friday were: WYNN ERF ARUN EMN STX EGO PCP LTD. Stocks that can be bought as they pass thru their 50 day MAs and those prices are: DISCA @42.85, SMG @52.25, MOS @69.

Stocks near their 200 day MAs are: EPD @38, RRC @42, PSA @97, DTV @38.50, NEM @58, NYX @29.50, ITUB @22, PNC here.

ORCL had an earnings gap up today. Others that have had earnings gap ups to see how they perform, which is bullishly are: CRM FNSR FFIV JOYG GPC LULU WFMI COH EL FL DKS ANF.

Stocks building the right side of their bases and warrant inclusion on a watch list are: MT MTL X NUE AMTD BLK BCSI PAYX.

ETFs in the news are: FXI @42, its 200 day. XLE formed a 3 weeks tight pattern with a buy point of 67.10. XLB XME also trading very tightly, stubbornly refusing to give up gains.

Stocks showing weakness are: LVS which is still facing resistance at the 50 day. VIT can be shorted @36, its 50 day MA. CIB looks headed to its 200 day. High volume selloffs under the 50 day for CIB which looks headed for 200 day support @56.25. Short strength in CIB. MCD looks headed for 200 day support after living below the 50 day on big volume down days. AMT same pattern. Below the 50 day now for a bit. 200 day support on AMT @46.25. Short AAP under 65, and ROST under 62, both their 50 day MAs. MCO now losing Its 50 day MA.

Changes in portfolio are: Long WCRX @22.30 as it broke thru its 50 day MA on big volume. Short LVS @46 as it hit 50 day resistance.

Good luck.

The author owns CAKE ARMH NVDA CHRW X VRSN DE GPS WCRX SDS. Short LVS.

Thursday Night Charting

Markets rallied Thursday somewhat with the Nasdaq showing the way. Volume came in below average however. Economic forecasts were all better than expected. Philly Fed, initial jobless claims and housing starts came in above views. After hours both RIMM ORCL were higher after earnings reports were rosy.

Stocks showing specific buy points are: PM @60.97, M @26.42, NSC @63.77 all flat bases. FDX @96.33, ARMH @19.38, EFX @36.09 all cup with handles.

Stocks nearing there 50 day MAs are: RIG @67, UPL @45.30, ERF @28, ABX @50, OVTI @28, FOE @14.25, MIPS @13.25. Stocks that found 50 day support today were WYN CCL NBL EMN NTAP ARUN UNP PCP XRX PFE ROST MON. WYNN is now back above its 50 day MA after an upgrade.

Stocks near there 200 day MAs are: PSA @96, NEM @58, EGO @17, CREE @64, ITUB @22, PNC here. BBT can be bought thru its 200 day @27.75.

NUE had a positive reaction to negative earnings guidance. A bullish sign. X, a holding of ours rallied in sympathy. INTU broke out of a flat base @49.04 on big volume. Did not pull the trigger because of the recent earnings miss though.

Gap ups still holding strong are: BLL WFMI LULU PSS EL FL DKS GES ANF.

ETFs: FXI buy @42, 200 day. EWG @23.75, EWA @24.75, both buys at their 50 day MAs.

Stocks showing weakness include: BIDU which now looks broken. Another down day in big volume. AEM plunged 6% in huge volume undercutting its 50 day MA. Reits SPG, VNO PSA continue to perform poorly. LVS @46 VIT@36, can both be shorted there as they move back to their 50 day MAs which could now be resistance.

Good luck.

The author owns CAKE ARMH NVDA CHRW X DE VRSN GPS SDS.

Thursday AM

Markets for the third day in a row closed near session lows. More troubling was the increased volume and weakness in leading stocks. BIDU lost its 50 day in massive volume for example. Dollar strength after Spain debt issues did not help US Indexes. Many leading stocks are trying to consolidate and find support at key moving averages. Other like we previously discussed are showing bearish, high volatility sell signals.

Stocks near buy points are few: BAM @31.99 a flat base. KO @65.06 a 4 weeks tight pattern. NVDA @15.43 a cup with handle and BWC @26.01 a cup with high handle.

Stocks looking for 50 day support are: F @15.50, HOT @57, APC @62, DVN @70, MUR @67, UPL @45, AA @13.75, PTEN @20, CBI @28, CHKP @42.25, TIBX @19.25, EMN @79.50, RADS @18.90, NTGR @31, EBAY @29, FDX @90, UNP @90, BHP @85, ABX @50, RIO @67, VALE @33, AEM @78, CTSH @66, SBUX @30, XRX @11.50, URI @19.90, SKS @11, PM @58.50, CAVM @34, OVTI @28, CIS @19, BEAV @35.75, AGCO @44.25, ROST here. Stocks that found 50 day support Wednesday are NBL QLIK PX OPEN ARUN. MRX can be bought thru 28.75 and WCRX THRU 22.30, both their 50 days. And both found recent support at their 200 day.

Stocks nearing 200 day support are: EPD @38, PSA @97, SPG @91, DTV @38.30, RIMM @58.50, LTD @27, IBN @44, CREE @64, ATHR @32, ITUB @22, PNC here, RGC here.

JOYG had a nice earnings gap up. Very bullish behavior indeed. FNSR continued its nice run up post gap up with an upgrade Wednesday.

ETFs near MAs are: GLD @133, its 50 day. FXI @42 its 200 day. TBT is firmly above its 200 day now.

Stocks showing weakness are: DISCA SMG TTM all showing an inability to break thru their 50 day MAs. SUN PSA BVN have all lost their 50 days now. BIDU we discussed earlier. NTAP can be shorted under 52, and PVH under 64, both their 50 day MAs. ALB had an outside negative reversal day.

Good luck.

The author owns CAKE ARMH NVDA CHRW X DE GPS VRSN SDS.

Wednesday Morning

Markets for the second consecutive day finished off their highs of the day. Volume was on thew slow side, but the action among leading stocks was worrisome. PCLN CRM NFLX OPEN FFIV APKT were among the leaders that were wounded. Are markets getting frothy here? Perhaps. By the look of actions on downgrades recently, maybe. VECO WNR, recent recommendations were both hammered on downgrades in last couple of days. We were fortunate not to enter those positions. However the market has been sleeping the last week. As the adage goes never short a dull market. As always let the price action of the market guide us, not our opinions or emotions. Consumer prices, Empire Index, industrial production and capacity utilization will all be out today. JOYG reports earnings.

Stocks showing specific buy points are: IBM @147.63, GR @87.64, ORLY @62.50, TAP @50.55, KKR @13.85, all flat bases. EFX @36.09 a cup with handle formation and JBL @17.58 a double bottom with handle formation.

Stocks nearing their 50 day MAs and where they need to find support are: HOT @57, CCL @42, NBL @81.25, AA @13.75, ERF @28, PX here, NTAP @52, TDC @40, KSU @45, UNP @89.50, RIO @67, JCI @36, FDO @48, TSLA @26, KO @62.25, PM @58.50, LTD here, MCO @26, CIS @19, FOE @14.25, BX @13.50, MIPS @13, MCHP @33, OVTI @27.75. CMH HS both found 50 day support Tuesday. SMG can be bought if it moves thru 52.25, its 50 day MA and WCRX can be bought thru 22.25, its 50 day MA also. It found recent support at its 200 day MA.

Stocks near 200 day MA and there corresponding prices are: RGC @14.50, STX here, RIMM @58, PFE here, GPS @20.60, CRUS @14.75, CREE @64, NYX here, ZION @22.50, GCI @14.50, ITUB @22, PNC @58, SPLS @21. BBT can be bought thru 27.75, its 200 day MA.

Par stars CMI WLT acted admirably today. CVX COP stubbornly holding onto gains and ORCL continues to act strongly. Stocks building the right side of their bases and to be watched closely are: CVS PAYX AMTD MTL. ETFs near MAs are: MOO @50.25, its 50 day MA. EWZ can be bought thru 78, its 50 day MA. FXI 200 day is 42. TBT now firmly above its 200 day in big volume. A sea change for that ETF. XHB is building its right side.

Stocks showing weakness are: LVS which can be shorted back toward its 50 day @45. Same goes for VIT @36 and TTM @30.25. If the stocks break thru those numbers cut the losses very quickly. SUN can be shorted under 38.50, its 50 day. BIDU AKAM YUM all clinging to their 50 day MAs and need to hold here. WYNN under par now and can it be headed for 200 day support @90? Recent action in the REIT space looks troubling. VNO needs to hold 81, its 200 day. SPG PSA losing their 50 day MAs.

Good luck.

The author owns CAKE ARMH NVDA CHRW GPS X DE VRSN SDS.

Tuesday Am

Markets finished the day mixed as a rally faded in the last 90 minutes of the day. Volume increased ever so slightly. Action from leading stocks was poor although many such as NFLX CMG AAPL all have made substantial runs and were due for normal pullbacks. Commodities rose, as China decided not to raise interest rates and tech lagged. Semis had a tough day. On tap for this morning is PPI, retail sales, and business inventories. The Fed will announce its interest rate decision at 215pm.

Stocks showing specific buy points are: CB @60.13, BAM @31.99, both flat bases. RADS @20.79, a cup base. FDX @96.33 in a cup with handle formation. Be careful yesterday 3 stocks rose above buy points only to finish near their lows. Not a good sign. They were JNPR VMW SMTC.

Stocks nearing their 50 day MA are: NBL here, UNP 89, FDO @48, CMG @220, LOGI @19.50, BX @13.50, AXTI @8, PM here. PFE rose above its 50 day MA yesterday in slightly higher volume after finding recent support at the 200 day.

Stocks nearing their 200 day MA are: VNO @81, RIMM @58, NYX @29.40, ZION @22.50, SPLS @21. Both NUE V pulling away strongly from their 200 day MA in last couple days in big volume. A good sign.

ORCL showed excellent relative strength Monday in big volume. BLL gap up still intact. CPO broke out from a flat base @46.16 Monday in big volume. VECO showed big relative strength among a weak semi group after breaking out of a double bottom base @47.83 on Friday.

Stocks looking weak are: MOS LVS both losing their 50 day MA. AMT can be shorted near 51 and CP near 64.50, both at their 50 day MAs. Both have displayed negative volume action on the way down recently. SPG can be shorted under 98, AKAM under 49.50, YUM under 49, all as they break down under their 50 day MAs.

Good luck. Apologize for the tardy post. Today is my birthday.

The author owns CAKE ARMH NVDA CHRW GPS X DE VRSN SDS.

Weekend Warrior

Markets ended the week Friday with decent gains, with the Nasdaq taking the lead with an .8% advance. Leading stocks continue to shine. Volume came in slower across the board. Both the Nasdaq and S&P 500 hit at least 2 year highs. For the week the Nasdaq outperformed the other major indexes with a 1.8% gain followed by the S&P 500 with a 1.3% gain and the Dow 0.2% gain. Next week carries a bevy of economic reports, with PPI, CPI, Fed decision, housing starts, jobless claims, and retail sales.

Stocks with specific buy points are: CCL @45.00, PMTC @22.97, JNPR @36.10, BIDU @115.14, QCOM @49.55, GR @87.64, ORLY @62.50, PETM @39.80, CPO @46.16, SKS @12.32, M @26.42, SCCO @47.58, TAP @50.55, BMC @47.05, KKR @13.85. All those previously mentioned were flat bases. Cup with handles bases are: FDX @96.33, GS @171.71, EFX @36.09. Cup without handle bases are: VMW @89.28, CTXS @72.03, CLF @76.27. 4 week tight is KO @65.06. Double bottom bases are: NETL @34.60, CREE @76.24. CREE we flagged as it broke above its 200 day near 65 on 11/24.

Stocks at or near their 50 day MAs and the corresponding prices are: MOS here, XRX @11.75, WSM @33.80, LTD @31, M @24.50, PM @58.25, ARMH @18, MCO here, CIS @19, LOGI @19.50, AGCO @44, MOTR here, LYB @28, BWC @23.80, MGA @47, WYN @29, CNK @17.75, NBL here, PXP @28.50, ERF @28, PX @92, EMN @79, DD @47, BAM @30, AAPL @310, NTAP @52, HRC @39, IBM @143, BIDU here, ARUN @22, NSC @61.50, CNI @65, UNP @89, RIO @67, VALE @32.80, JOYG @78, INFY @68, HS @27.50, JWN @40.25, KMX @32, YUM here. XXIA showing real volume support recently at its 50 day.

Stocks near their 200 day MA are: RGC here, EPD @38, VNO @81, STX @14.90, RIMM @58, NEM @58, EGO @17, MRX @26, MT @34, NUE @41, NYX @29.50, ZION @22.50, BLK @170, ITUB @22, SPLS @21, CVS @32.10. BBT can be bought thru its 200 day @27.90.

Stocks that held their 200 day and now have or are about to overtake their 50 day MA which demonstrates the importance of 200 day support are: PSA held its 200 day @95, now just above par and its 50 day. SWK 200 day held @58 and surged above its 50 day on 12/2 and now trades near 65. PFE held its 200 day @16, now trying to break thru its 50 day. Put in a buy stop on PFE @17.35, clear of its 50 day. BUD found 200 day support near 54, now is possibly looking to challenge its 50 day near 60. Put in a buy stop on BUD @60.25. WCRX found 200 day support @19 a couple of weeks after an earnings plunge on 11/8. Put in a buy stop on WCRX just above its 50 day @22.25. WM found 200 day support 2 weeks ago, and Friday bursted thru its 50 day in healthy volume.

LULU PLL gapped up this week. Always a bullish move. Recent gap ups that continue to perform well are; FNSR WFMI COH PSS EL FL DKS ANF MXIM PAY VSH ATML.

Energy stocks to keep an eye on are NOV SLB which are trading very tightly after moving past recent consolidation. Very bullish. Is WNR establishing itself as one of the premier refiners. Its chart is telling us that. Up 100% since October with strong upside volume. Could the company be on HES radar screen?

As for short ideas. SMG lost its 50 day and has been swimming under it since 11/8. Could be headed for 200 day support at 48. BVN lost its 50 day in big volume. TTM can be shorted if it gets back to its 50 day at 30. LVS can be shorted under 44.50, its 50 day. WYNN just above par. Is it going to its 200 day MA near 90, or is it forming a flat base with a future potential buy point of 117.60? Our opinions dont mean jack. Let the price action and not our emotion or opinion, guide us.

Portfolio changes are: Long VRSN as it cleared a buy point thru 35.73 in a flat base on big volume.

Good luck.

The author owns CAKE ARMH NVDA X CHRW DE GPS VRSN SDS.

After Market Pondering

Markets closed the day in a lackluster session. Initially markets rose on the positive jobless claims, gave back those gains then rallied into the close. Leaders performed well, including LULU, which surged on a strong earnings report. Volume rose on the Nazz, and it may get a boost on after market news that FFIV NFLX will join the S & P 500.

Stocks sporting specific buy points are: IBM @147.03, SIAL @66.11, both flat bases. QCOM @49.55 a double bottom with handle. NETL @34.60, a double bottom. KO @65.06 a 3 weeks tight pattern. FDX now has a buy point of 96.33 in a cup with a handle base. Competitor UPS broke out of a flat base @70.10 last week and has continued to trade above that breakout level. Stocks sporting potential buy points are: MELI forming a possible 70.88 buy point in a double bottom base. The handle needs two more days to develop. CREE recently shook free from its 200 day MA that we flagged and now has a possible buy point of 76.24 in a double bottom base.

Stocks that should find 50 day support are: WYN @29, NBL @81, HNR @12.50, VRSN @34, EMN @79, DD @47, NTAP @52, BIDU @106, AKAM @50, ARUN @22, JOYG @74, JWN @41, ARMH @18.20, CIS @18.50, LOGI @19.50, MOTR @23, BWC @23.75. Stocks that have found solid 50 day support in the last couple of days are: LVS CVLT LTD AVGO. RADS is trading tightly above the 50 day MA after recently reclaiming the 50 day. XXIA finding big volume support at the 50 day MA after recently retreating to it. BAC blasted thru its 50 day today.

Stocks that should find support at their 200 day MA are: VNO @81, MRX @26.25, NUE @41. IBN @44, ITUB @22, both foreign banks looking tenuous. ZION broke thru its 200 day MA today on strong volume. Put buy stops in on STX @15.50 and BBT @27.80 as they pass thru their 200 day MA.

FNSR trading well after its recent gap up.

ETFs MOO can be bought @50, its 50 day MA. FXI @42, its 200 day MA. TBT is right now at its 200 day MA.

Stocks looking weak are: TTM which gapped under its 50 day MA today. The Sensex has come under heavy pressure in the last two sessions. SPG can be shorted under 98, its 50 day. Big volume on the way down lately. AMT is losing its 50 day. NEM losing its battle with the 50 day MA too. Volume has been real heavy on the downside. Lets see if the 200 day @58 holds this time. YUM barely holding its 50 day and big volume on the way down today is not a good sign.

Sold MCD today for a $2 loss. Dropped below the 50 day. Discipline.

Good luck.

The author owns CAKE ARMH NVDA CHRW GPS X DE SDS.

Early Morning Thoughts

Markets showed modest gains after a selloff near the open. Leading stocks underperformed, and the best groups of the day were hardly the cream of the crop. Newspapers, books and banks. The laggards of the day were from leading sectors such as miners, energy. The light volume distorts the picture very much as well. Markets seem to be consolidating near their recent highs. Weekly jobless claims will be out this morning. LULU PLL report earnings today.

Stocks showing specific buy points include: XRX @12.05, TAP @50.55, BMC @47.05 all flat bases. KO still remains near its 65.06 3 weeks tight pattern. VMW sporting a 89.28 buy point in a cup base. XOM @72 in a double bottom base.

Stocks and there 50 day MAs which should show support are: IPI @31, LVS @45, NBL @81, WLL @105, SWN @35.75, DD @47, BIDU @107, NSC @61, JWN @40, SKS @10.80, WSM @33.80, AVGO @24.25, CIS @18, AGCO @46, MOTR @22. MCD YUM LTD MCO all found support at their 50 day Wednesday. GOOG is now back above its 50 day.

Stocks that should find support at their 200 day include: RRC @42, PSA @96.50, VNO @81, MRX @26, MT @34.25. ZION took out its 200 day today barely and WM seems to be enjoying its 200 day support. Lets see if WM can challenge its 50 day about a dollar higher from here soon.

TRMB holding gains tightly after an 11/3 flat base breakout. GPC doing the same after its 12/2 flat base breakout. GES is filling in its gap up on light volume. A good sign. NYX looks good here. Just above its 50/200 day MA, as it looks like some longs were taken out 11/30. V continues to be halted near its 200 day MA. If it can shake loose put in a buy stop above 79. Two thumbs up for the free market regarding MA V. The stocks prevailed and finished higher despite hackers shutting down their websites this week.

KBR VECO both had negative reversals Wednesday. CP has lost its 50 day MA here in big volume. Can it be headed to its 200 day @60, where that MA has shown support 4 times already this year?

Good luck.

The author owns CAKE ARMH NVDA X GPS CHRW DE MCD SDS.

Early Morning Thoughts

Stocks staged a seesaw session with the action turning decidedly negative by the end of the day. Volume was mediocre but the reaction from leaders and the reversal of many leading stocks intraday was not a positive sign at all. Was it attributed to a late dollar rally, or the government expanding its insider trading probe? I do not think the timing was a coincidence after Obama conceded defeat and gave in on the extension of the Bush taxes for all income brackets. Chinese stocks also took it on the chin on fears of an interest rate hike. COST has earnings today.

Stocks showing specific buy points include: VRSN @35.78, SIAL @66.11, AMP @55.16 all flat bases. KO sports a 65.06 buy point in a 3 weeks tight pattern.

50 day MAs that need to hold are: LVS @45, RIG @66, JNPR @33, RADS @18.60, YUM @49.50, LTD @30.30, DFS @18, CIS @18, MOTR @22. PM XXIA both finished strongly Tuesday in good volume after finding support at the 50 day. And both closed on their highs of the day after the market squandered nice early gains. PSA can be bought thru 100.25 its 50 day. VNO which we recently flagged at 80 for 200 day support, now lets see if it can challenge its 50 day on the upside. Buy spot would be thru 86, its 50 day.

CVS broke away from its 200 day MA Tuesday on decent volume. NUE can be bought thru 41.70, its 200 day MA. It was stopped there today. Wait for it to break thru. Energy names which performed admirably on a weak tape, which is bullish are, CVX CMI WLL.

Short opportunities could come from stocks showing negative outside reversal days. These include: PAAS ORLY CRZO. SLW which has had 2 major reversals days in the last month now. SWN is failing at its 200 day MA. CP can be shorted under 64, its 50 day MA. TTM can be shorted under 29, also its 50 day. TTM has had some wild action recently after hitting all time highs, not a real good sign. DTV which we flagged after losing its 50 day at 42, and we then said 200 day support looks likely next is happening. 200 day support for DTV @38 needs to hold. BBD looks very similar to DTV. It couldnt hold 21, its 50 day, now 18 its 200 day needs to hold.

Changes in portfolio include: Long DE after its flat base breakout in heavy volume @79.76. And MCD @80.10, also breaking out from a flat base on good volume. For protection the SDS looks overdone. We bought some today, and could see it challenging its 50 day MA @27.

Good luck.

The author owns CAKE NVDA ARMH X CHRW GPS DE MCD SDS.

Monday Monday

Markets finished mixed Monday although again they did finish off the lows. The Nasdaq finished in the black for the fourth straight session. Commodities outperformed.

Stocks showing specific buy points include: DE @79.76, DHR @45.10, both flat bases. Cup with handle patterns are: CNK @18.91, AA @14.27, STT @46.07. NETL @34.60 a double bottom. XOM @72.00 a double bottom with handle. NDAQ is just above a 22.42 buy point in a cuo with handle.

Stocks that sould find support at their 50 day MA are: SUN @39, VRSN @33.80, JNPR @33, NTAP @52, CP @64, YUM @49.25, BID @41, WSM @33, TAP @48, ARMH @18, LOGI @19.25, BMC @44, MOTR @22, CCK @31. WYNN continues to hug its 50 day line right here just above par. CVLT bolted off its 50 day today.

DISCA can be bought thru 43.25 and NYX thru 29.50, both thru their 50 day MAs.

V can be bought thru 79 and STX thru 15.25, both thru their 200 day MAs. BCSI stormed up over 5% today. We flagged that one a couple weeks ago as it hugged its 50/200 day MA. AMTD had a decisive move thru its 200 day recently. NEM continues its move off its 200 day and then thru its 50 day. WM 200 day support @34 should hold.

GOOG INTU both trying to regain their 50 day MAs. Is FDX starting to form a handle in a cup base? 96.33 potential buy point. Give the handle 5 days to form.

Par stars all performed well today in a flat market. WLT WLL CMI FCX all finished in the black. WYNN finished flat.

Good luck.

The author

Peak Oil

Recently I spent a fantastic family Thanksgiving dinner an intriguing matter was brought up. Peak oil. As I found myself surrounded by Democrats in the liberal turf of Conneticut, the only thing peaking was my curiousity. Eyes at the table were beaming, like the Christmas tree lights outside in the distance. In light of the circumstances (my first Thanksgiving Day with the girlfriends family), I respectfully kept silent. However my mind was racing to create my next blog piece to counter the frustration that was developing.

Pundits have long been predicting "Peak Oil". Incorrect forecasts of its demise have been spread since oil drilling began in Titusville PA in 1859. As early as 1914 our own Bureau of Mines Department claimed we had little more than 10 yrs before the country would exhaust all of its oil reserves. The U.S. Interior Department in 1939 and 1951 declared oil would vanish in 13 years. Jimmy Carter himself made the unbelievable remark that the entire globes oil supply would not last past 1990. What all these experts never factored in were the technological advances that would evolve to dispel their doomsday scenarios.

In 2006, Brazil had a mega discovery with its Tupi Field. Known as probably the greatest find in 30 years in this hemisphere, Brazil is now on the brink of becoming energy independent. The oil field potentially can yield 100 billion barrels of oil. Closer to home the locating of the Tiber Well in the Gulf of Mexico in 2009 was a massive unearthing. U.S. Geological Survey estimates that the Alaska regions' Chukchi Sea can hold more than 80 billion barrels of oil. In the continental U.S. we have enormous reserves that are going untapped. The Green River formation in the Northwest U.S. holds almost 2 trillion (not a typo) barrels of crude.

Over 200 new oil discoveries were reported in 2009 alone. Not to mention gigantic finds in natural gas. Right here at home we have a 100 year supply of natural gas. Thanks to research and development we have the technology to drill these resources and declare our own energy independence. In the process creating sorely needed, well compensating jobs. Why cant we take the example from Brazil and not have to rely on dangerous regions of the world to supply us with what we have right here at home. Political interference which leads to excessive amounts of red tape is my educated guess.

I am for the continued advancement of all alternative energy sources. However oil must be the dominant means of any realistic energy conversation. In the continental United States where we have some of the most intrusive regulation on the planet, oil production increased for the first time in. This is a testament to the creativity and ingenuity of the American energy industry. There is an old adage on Wall Street. Stocks dont lie. People do. I am going to substitute numbers for stocks. And the numbers certainly are not lying regarding peak oil. Oil is being found in more places that we thought imaginable. Let us find and recover it to give ample time to make the transition to other alternative energy means.

Now am I suggesting my future aunt was fabricating her belief in Peak Oil. Of course not. Just the source of her facts attempting to establish a hysteria. The elite media at work embellishing the situation to their benefit. Surprised? I would expect nothing less.

Weekend Warrior

Markets capped off a bullish week Friday with a nice reaction to a poor jobs number. Markets that open low, close on their highs on bearish news must be taken note of. Volume rose and leading stocks continued to make good headway. The S&P led the way this week with a 3% gain, followed by the Dow with a 2.6% gain and the Nasdaq finished 2.2% higher for the week. Energy and semis were strong once again on Friday while retail and financials were weaker.

Stocks with specific buy points are: HOT @60.10, NBL @86.10, VRSN @35.78, EMN @83.52, AAPL @321.40, TDC @42.08, IBM @147.63, QCOM @49.55, AAP @68.98, MCD @80.10, YUM @52.57, ENTR @10.45, XRX @12.05, SIAL @66.11, BMC @47.05, GR @87.64. All those previously mentioned were flat bases. Cup bases are: VMW @89.28, XLNX @29.50. Cup with handle bases are: AA @14.27, VALE @34.47. Double bottom with handle bases are: XOM @72.00, MRVL @21.10. Cup with high handle bases are: IPI @35.24, CCL @45.00. And KO has formed a 3 weeks tight pattern with a buy point @65.06. As always demand high volume thru the breakout price indicated above.

Stocks that should find support at their 50 day MAs are: JNPR @33, CNI @65, CP @64, JWN @40, YUM @49, LTD @30.25, M @24. Stocks that found solid support, meaning bounced off their 50 day this week in heavy volume were: MOS WYNN COP DOW MUR WLL IBM BIDU DD CLF BHP FCX RIO AEM SCCO CCK CRUS PPG TRMB PCP LOGI HNZ PTEN RAI. Stocks that could look to break back above their 50 day MA are: SMG @52.25, PSA @100.25, PM @55.75, CIB @66. ORCL moved back above the 50 day on Friday.

Stocks that found strong support at the 200 day MA this week are: NEM SWK PFE MRX MTL X BUD CREE WCRX VNO EGO. Stocks that could break thru their 200 day MA this week are: VLTR @23.40, CEDC @28.25, SWN @38.40. Both natural gas stocks RRC UPL are trading nicely after breaking thru their 200 day recently.

Steel seems to be breaking free from its laggard commodity status. MTL MT X all broke free from their 200 day MA this week. Whats up with NUE though? Closes lower on the day and perhaps can be paired up against the bullish steel equities previously mentioned.

Bullish gap ups to pay attention to this week were PAY ANF. MCK broke out this week from a flat base and ATU broke out from a cup with handle pattern.

Par Stars in the news this week: WLT moving ahead by more than 6%, even after disclosing a buy out of Canadas' Western Coal Corp. FCX surging 11% on the week. CMI WLL had a good week. WYNN was subdued this week but finding 50 day support. Who could be the next among the Par Star group. NKE CAT UNP? Studies have shown that the vast majority of stocks that move past $90 a share eventually move to par.

ETFs EWA EWZ EWG all have moved back above their 50 day MA. RSX broke out of a cup with handle base this week but volume was missing. See if it kicks in this week. XLF is now back above its 200 day MA and TBT after finding support at its 50 day MA @34 looks to challenge its 200 day @38.50. If it can proceed thru that 200 day the charge ahead can really pick up steam.

Short possibilities include DTV which we flagged as it lost its 50 day recently. Is it on its way back to its 200 day? BBD looks like its 50 day MA is providing resistance now. Short near that line if it can not get thru it again. VIT had a negative outside reversal day on Friday.

Good luck.

The author holds positions in CAKE NVDA ARMH GPS X CHRW.

Thursday Night Charting

Markets put in another big performance Thursday. Volume was above average but only slightly. Perhaps investors are waiting for tomorrows jobs report. Semis and banks were strong today. The banks which have been non existent on the leader page came to life today. The outlook for a recovering housing market helped the sector.

Stocks near buy points are: XOM @72.00, MRVL @21.10, VECO @46.35, all double bottom with handles. AA @14.27, a cup with handle. NETL @34.60. Demand strong volume on the breakout.

Stocks near MAs that can be bought as they pass thru the following prices are: BBD @21.30, PM @58.25, SMG @52.25, ORCL @28.30, PSA @100.25, NEM @61.50. All those were their 50 day MAs.

Stocks finding support at their 50 day MAs and rebounding in heavy volume which is very bullish are: DE COP MUR APD PX IBM DD
CP BHP RIO SWC COST PTEN RAI PPG. CEDC that we flagged a couple weeks ago as it looked to be rounding out a long saucer base pattern hugging its 50 day MA. Today it surged 12% and stopped right at its 200 day MA. Lets see if that line can now be taken out and build its right side. RHI MAN are currently a little further along in building their right sides of their bases than CEDC. Are they seeing better employment numbers ahead? Lets hope so. can not really get any worse.

Stocks that can be bought as they pass thru their 200 day MAs are: SWN @38.25, VLTR @23.30. RRC should now find support above 43 its 200 day MA. Look how LOW exploded thru its 200 day in the last 2 days. FNSR had a bullish gap up today. It found support along its 200 day MA. ANF also had a bullish gap up today.

ETFs that can be bought as they pass thru their 50 day MA are: EWZ thru 78, FXI thru 45.40.

Shorts that can be put on are: BIDU under 104, its 50 day. OPEN here being extended and having that outside reversal day 11/24 and a weak reversal on 12/1 which was a Dow 250 plus day.

Good luck.

The author owns CAKE NVDA ARMH GPS CHRW X.

Wednesday Recap

Markets surged Wednesday after strong starts pre open overseas. Both German and China reported strong factory activity. Adding fuel to the fire was our jobs number. Only thing missing today was higher volume. But leading stocks really showed their muster. Stocks that are showing specific buy points are: APC @67.78, AA @14.27, both cup with handles. XOM @72.00, MRVL @21.10, both double bottom with handles. DOW @33.07, a cup with high handle.

Stocks near MAs that can be bought if they pass thru that MA in big volume and close there are: BBD @21.25, CVX @83.50, ORCL @28.25, PSA @100.25, AMT @51.75. All previous mentioned were their 50 day MA. Stocks that found 50 day support today were: DE MOS EMN SPG IBM CNI BHP RIO HS CCK WYN BID. RIG @65, BIDU @105 can be bought if that price previously mentioned holds on. If BIDU breaks below 104, it can be shorted.

Stocks that found support at their 200 day MA today were: PFE MRX. They can be bought here if that line continues to hold. SWN can be bought if it can break above 38.25, its 200 day MA.

RHT had a bullish gap up Wednesday. CMI has become the newest member of our "par stars". Will PSA be next? WYNN had a big volume move off 50 day support Wednesday and FCX WLT WLL all continue to perform well.

ETFs that had big volume support at their 50 day MA are: JJC TBT MOO. EWZ can be bought if it breaks thru its 50 day @78, and FXI can be bought thru 45.25, its 50 day.

11/23 outside reversal day for TTM foreshadowed its recent struggles. Its 5th huge volume decline over the last 6 days. Its 50 day of 29 better hold. JKS RIMM both finished in the red on a strong tape.

We bought X @50.15 as it broke away from its 200 day Wednesday.

The author owns CAKE ARMH NVDA CHRW GPS X.

Tuesday Recap

Markets tried in vain for an afternoon comeback, but those efforts went unnoticed. Volume picked up adding another distribution day. Nasdaq leaders PCLN AAPL GOOG EBAY BIDU ARUN all performed weakly. Gold miners and restaurants were among the strong groups, while banks were among the worst groups. For the month the Nasdaq finished down slightly at 0.4%. Perhaps a healthy rest. With the number of bullish money managers is very high, I am starting to take a more bearish view on the markets. I have been small and neutral now for a few weeks.

Stocks near specific buy points are: BLL @66.36, CPX @29.23, GSM @17.30, all three week tight patterns. HAS @48.88, a flat base pattern.

Since I have become slightly bearish I will start with equities I am considering shorting. BIDU under 104, BVN under 50, both their 50 day MA. ARUN @22, AMT @51.50, both on a rebound to their 50 day. AVGO had a very bearish reversal today after hitting an all time high (a recent IPO that came public in 8/09). I will have in a buy stop on SDS (bearish index ETF) @27.85, if it can get thru its 50 day MA there. WCRX lost its 200 day MA Tuesday. Not a good sign at all.

That being said we must always be on the lookout for possible buy spots as I am a technician. Stocks that can be bought as they go thru there MAs are: CNI @65.25, RADS @18.70, both their 50 day MA. CRUS is holding its gap up thru 15, which is also its 50 day MA. VLTR thru 23.20, its 200 day MA. X thru 49.50, its 200 day MA also, which has proven to be resistance 4 times now since July of this year. NEM EGO both rallied off their 200 day MA this week as well. CREE RIMM both showed nice strength today on a weak tech tape, and both their 200 day MA providing nice support.

50 day MAs which better hold are: IPI @30, MOS @67, WYNN @101, DOW @30.25, NBL @80, RIG @65 (golden cross), AA @13, VMW @80, ARBA @19.25, EMN here, IBM @141, QCOM @45.75, DD @46, UNP @87, BHP @82.50, DOV @54, GPC @47, MCD @77, YUM @49, SCCO @41, XXIA @15, NTGR @30, LRCX @44, CCK @30.50, KO @61.75, SIAL @62, BMC @43, KBR @26, MRVL @18.50. If these 50 day MAs fail to hold they can be shorted.

200 day MAs are: CVX @78, SWK @58, MRX @26, PFE here, BUD @53.25.

ETFs TBT bounced off its 50 day near 34, JJC was strong, and FXI can be bought near 42, its 200 day MA. Other stocks I like are SOA @20.50, BKI a real illiquid stock, but whose chart has demonstrated excellent relative strength as of late. CRZO WLL both strong energy performers Tuesday.

Bought small positions in CHRW thru 73.42 flat base point, and GPS thru 21.15 as it broke thru consolidation hugging its 200 day.

Good luck.

The author owns CAKE ARMH NVDA GPS CHRW.

Monday Monday

Markets started very poorly as Europe lagged with the official announcement of Irelands bailout package. In the last 2 hours of the session markets climbed off their lows. Leading stocks outperformed as they should. AMZN NFLX were among the best. Energy, retail were among the best sectors. Volume was below average. SPY themselves bounced right off their 50 day MA. A good sign.

Stocks sporting specific buy points are: TDC @42.08 a flat base. SNDK @46.70, a double bottom base. XOM @72.00, VECO @46.35 both double bottoms with handles. CPX @29.23 a 3 weeks tight pattern. As always demand big volume on the breakout. Other buy spots are BTU thru 60, ARBA CIS both @20. Lets buy X thru 50, its 200 day MA. Lets buy CNI thru 65.25, its 50 day MA.

Stocks that are looking for 50 day MA support are: TRW @45, HOT @56, NBL @80, AA @13, CVLT @28.25, VRSN @33, JNPR @32.50, IBM @141, BIDU @105, ARUN @22, QCOM @46, CSX @60, CAT @80, PTEN @19. Stocks that found support at the 50 day MA today to further demonstrate the lines importance were: COP MUR MOS EMN DD BHP FCX SWC AEM MCD YUM SCCO ARMH AMP BEAV PPG BCSI SIAL FOE XLB.

Stocks that should find support at their 200 day MA are: PSA @96, VNO @80, MRX @26, BUD @54, ATHR @32. EGO found support at its 200 day today. CREE crossed above its 200 day today for the second time in 3 days. Tenacious.

Can CMI be the next member of the "par star" group? Stay tuned. ANR looks like its forming a handle in its cup base. It needs 2 more days to form however. Do not jump the gun. Be patient. TBT can be bought @34, its 50 day MA. QSFT can be shorted under 25, its 50 day. We will be looking to reenter FCX at par. Looked very strong today and was one of the first leaders to start heading higher even when the market was still near its lows early in the session.

Good luck.

The author owns CAKE ARMH NVDA.

Sunday Thoughts

Friday was a down day on Wall St. A half day that saw the Dow take the worst of it with a 1% loss. Investors stayed on the sidelines until this week begins with the big players returning. For the week the Dow and S&P feel 1%, but the Nasdaq rose .7%. Steel struggled as retail and tech held up in general. Leaders held up relatively well Friday as stocks such as FFIV CRM CMG RVBD AKAM PNRA DECK all finished higher.

Stocks that have specific buy points are: APA @110.81, APC 67.78, DVN @73.35 all cup with handles patterns. Flat bases show up on SUN @40.73, CHKP @44.57, AAPL @322.30, HAS @48.88. Three week tight patterns show up with CPX @29.23, BLL @66.36. Four weeks tight patterns have formed on HES @72.09, A @37.65.

Stocks that can be bought as they pass thru MAs are: RADS thru 18.60, CNI thru 65.25, INFY thru 68. All those previously mentioned were their 50 day MAs. Stocks that can be bought as they pass thru their 200 day MAs are: X thru 50, GPS thru 21.20 as it breaks from recent consolidation near its 200 day MA. As always big volume must be accompanied with the price action.

Other stocks with buy points that can be bought are BTU thru 60, TIBX thru 20.28, and SOA as it retreats to 21.

Stocks that should find support at their 50 day MA are: CBI @26, DE @75, WYNN @102, ARMH @18, TRMB @36, BEAV @34, RAI @31, NTGR @30, SIAL @62, BMC @43, KBR @26, FOE @13.75, COP @60, DOW @30, MUR @64, RIG @65, AA @12.80, EMN @77, CE @35, GOOG @580, BIDU @105, PM @58, APH @50, CHRW @71, QCOM @45, AMT here, UNP @86, BHP @82, ABX @48, FCX @95, AEM @75, CAT @80, JOYG @73, YUM @49, NKE @82, KMX @30, SCCO @41, BID @40.

Stocks that should find support at their 200 day MA are: CVX @78, SU @32, UPL @45, CNX @40, VNO @80, BUD @54, NVDA @12.90, EGO @16.50, ATHR @32.

ETFs that should find support at their MAs are: TBT @34, MOO @49.50, XLB @34.50 all their 50 day MAs. FXI @42 is its 200 day MA.

Stocks that can be shorted are: QSFT below 25, RIO below 64. Both their 50 day MAs. INTU if it rebounds to its 50 day MA @47 can be shorted.

Lets see if the mythical, legendary Plunge Protection Team can keep GM stock price above the offering @33. Looks like they are having a heck of a time!!

Good luck.

The author owns CAKE ARMH NVDA.

Happy Turkey Day

Markets came back back nicely as both retail and chip sectors caught nice bids. Leading stocks again outpaced the indexes, although in lighter volume. That is to be expected the day before Thanksgiving. The major indexes are continuing to find support at their 50 day MAs. Markets had to digest 3 economic reports before the open and they came in mixed. Durable goods missed the forecast, personal income rose and initial jobless claims were much better than expected.

Stocks that remain near buy points are: VECO @46.35, double bottom with handle and MCD @80.00, a flat base. SNDK now has a 46.70 buy point in a double bottom pattern. Although premature CREE which can be bought here as it surged past its 200 day MA, as long as it stays above that line. A potential add on buy point would be 76.24 in a double bottom base.

Stocks that can be bought as they break thru their MAs are: RADS thru 18.65 and CNI thru 65, both their 50 day MAs. VLTR thru 23.25 and GPS thru 21.20, both their 200 day MAs. ARBA has had two big volume moves thru 20 this week, to achieve 5 yr highs. It can be bought as long as it holds above 19, its 50 day. PSA VNO have both risen smartly off their 200 day MAs. BCSI ATHR exhibit long cup bases above both their 50 and 200 day MAs. I like both right here as long as those lines hold. ADSK PETM more recent examples of bad earnings reactions only to have their stock decline halted at their 50 day MAs. I also like BTU if it can break thru recent consolidation @60.

Keep an eye on GES. Nice earnings gap up Wednesday. If it can hold that here for 2-3 days consider buying. Make sure it holds 48. ETFs garnering attention are: JJC back to its 50 day. TBT looking to sniff out its 200 day MA @39. See how it reacts there. KOL XLE MOO have best looking commodity related ETFs to me.

OPEN had noticeable weakness on a strong tape Wednesday. An outside reversal day on 3X normal volume after hitting an all time high. I say all time high as it only came public in 5/09, but a rest looks well needed. DTV VZ both finished in the meekly on a strong day. Both continue to hover beneath their 50 day MAs in big volume. Until they can recapture that MA stay clear, or even short. And even in strong groups laggards can continue to disappoint. Case in point RBCN. A semi that has struggled evr since it lost its 50 day MA on 8/5 of this year.

Good luck. And above all Happy Thanksgiving. Enjoy your family and friends and let them know just how thankful you are.

The author owns CAKE ARMH NVDA.

Tuesday After Market

Markets suffered a distribution day Tuesday. Indexes sold off in heavy volume and leaders struggled. Ongoing Eurozone concerns and a skirmish between the two Koreas led to the steep decline. SPY did manage to close right on its 50 day MA. Steel and home related stocks were weak, while retail somewhat bucked the trend.

SUN is sporting a 40.73 buy point in a flat base. Stock finished up on a terrible tape. Other leading stocks to finish in the black were RVBD OPEN JWN UA BKI DECK ALTR. Stocks that perform well on a horrible tape warrant a close look if the market can catch a bid.

Stocks that should find support at their 50 day MAs are: APA @102, APC @60, COP @59.50, DOW @30, MUR @64, NBL @79, RIG @65 ("golden cross"), TCK @45, AA @12.75, CRZO @25, TIBX @18.25, GOOG @570, JNPR @32, CHRW @71, IBM @140, BIDU @103, ARUN @21.50, BLL @62, CSX @59, UNP @86, BHP @82, FCX @95, RIO @64, CAT @80, JOYG @72, HS @26.50, MCD @77, YUM @49, SCCO @40, RAI @31, BMC @38, WYNN @100. CVLT IPI TAP all bounced off their 50 day MA today on a terrible tape and finished on their highs of the day.

Stocks that should find support at their 200 day MA are: CNI @61, FDX @84, SWK @58, PFE @16.50, MRX @26, NVDA @13, EGO @16.50.

WYNN will be added to our "par stars index". Aslong as it holds above 100. FCX did close below that number today, but WLT literally bounced right off 100 and closed in the middle of its daily range.

ETFs that are near MAs are MOO which closed right on its 50 day today @49. Needs to hold here. RSX also closed at its 50 day today @34. Commodity nation ETFs EWA EWZ both have now fallen below their 50 day MA in heavy volume. Not a good sign. Dr. Copper ETF JJC lost its 50 day today, athough it is illiquid. FXI 200 day MA is 42.

VZ DTV both failing at their 50 day MAs. VZ having decent AAPL related news and not pushing higher not a good sign. RIMM failing at its 200 day MA.

TSLA strong as a bull. Continues to plow ahead on an apparent 2 week long short squeeze. I dont want to hear about the GM Volt which apparently gets 40 miles to the "gallon" on a plug in charge. TSLA seems to be doing it without government support. At least for now I give Elon Musk two thumbs up.

Portfolio changes include selling BUD ORCL as they broke below their 50 day MAs. May revisit but that was the catalyst that got me in.

Good luck.

The author owns CAKE NVDA ARMH.

Monday Monday

Stocks showed some resilience today finishing well off the lows of the day. Leading stocks especially took charge. AMZN NFLX both high beta names that have enjoyed 50 day MA support were among the rulers of the day. When leading stocks outperform the indexes that usually is a very good sign. The Nasdaq was the only major index to finish in the black. Volume was weak today, and retail, semis and networks were among the best sectors of the day.

Stocks showing specific buy points are: VECO @46.35 and NETL @32.30, both double bottom with handle bases. APA @110.83 and NLC @30.60, both 3 week tight patterns. CMI @96.73 and GPC @48.62, both flat base patterns. BBY @45.51 a cup with handle base. And remember the buy points that are very close we discussed over the weekend. CHRW @73.23 and MCD @80.00, both flat bases. JWN @42.96 a double bottom with handle pattern.

Stocks that should provide 50 day support and those levels are: RIG @65, AA @12.75, HS @26.50, IBN here, AMP @50, RAI @31, PMTC @20.50. More stocks that have found support at their 50 day MA are: WYNN @100, CVX @83, INFA @38, TIBX @18, ORCL @28, PX @91, ARUN @21, APKT @38, FOE @14, VIT @33.50.

My new so called "par stars" are: WLT WLL FCX. All these are now above 100 and as long as they remain above that triple digit they should be held long. UNP will be the next one to join that club is my prediction.

Stocks that are near their 200 day MA are: RIMM currently in a downtrend right here. VNO PSA, both real estate stocks have found support at their 200 day. JCG is looking to challenge its 200 day @39. If it can get past their put in a buy stop above 39. SWN can be bought above 39, its 200 day MA. ATHR can be bought here as its 200 day now looks like solid support. MRX @26 and EGO @16 should enjoy support there at the 200 day.

Stocks that have enjoyed strong gap ups and still looking powerful are: RVBD WFMI FFIV COH CRM BRCM FO XXIA GPC RL FL CMG MXIM DKS. Gap up are very bullish signs and should be purchased if the gap up holds for 3 days after the gap up has occurred.

Changes in the portfolio today were buying CAKE thru 30.85 in a cup base.

Good luck.

The author owns ORCL CAKE NVDA BUD ARMH.

Weekend Stock Reflections

Markets with all their gyrating this week basically closed UNCH. Friday brought news from China that they were raising bank reserve requirements for the fifth time this year. Indexes shrugged off that news to settle with small gains near their highs of the day. Retail performed very well with ANN HIBB FL breaking out on earnings reports. CRM MRVL also screamed higher on their own earnings as well. New 52 week highs on the Nasdaq and NYSE were 170, compared with 35 52 week lows. HPQ has earnings Monday.

As markets digest their recent run up stocks are consolidating before deciding on their new direction. Most have tried to rebound off their MAs, while some other are now offering specific buy points. 3 week tight patterns have been established on HES @72.90, FDO @49.94, JCI @37.65, UNP @92.81. Stocks with flat base buy points are: CHRW @73.42, MCD @80.00, HAS @48.88, AGP @44.95. TAP has a 50.55 buy point in a cup with handle base. CAKE has a 30.85 buy point in a cup without handle. MRVL has a 21.10 buy point in a double bottom with handle pattern.

Stocks that should find support at their 50 day MAs are: IPI @30, DE @75, RIG @65, AA @12.75, ORCL @28, JOYG @72, HS @26.50, AMP @50.50, FOE @13.50. Just to demonstrate how important the 50 day MA is here are some more examples of stocks that found 50 day support this week. WYNN @100, CVX @83, TIBX @18, AAPL @295, TDC @38, APKT @38, AMT @51, CHRW @70, SWC @18, YUM @48, NKE @80, SIAL @62, PM @57.50, BEAV @33.50.

CNI can be bought thru 65.25 and CTSH thru 66 as both try to retake their 50 day MAs. SWN can be bought thru 50 and X thru 50 as they both try to reclaim their 200 day MAs. EGO has found support at its 200 day MA @16.50 and SNDK has found support at its 50 and 200 day this week. It can be bought here with a sell stop under 38.

SOA under going huge accumulation after a recent breakout from a cup base. Great action. ETFs on their MAs are EWA at its 50 day here, XLF back to its 50/200 day. Looks shaky here, but let the market confirm the move either way. WLT screamed thru par Friday, something we predicted as it hugged its 50/200 day MA this summer. Breakout thru par looks solid. FCX mirrors the WLT thru par action.

AAPL GOOG both finished lower on the day. QSFT can be shorted under 24.75, its 50 day MA.

Portfolio changes are long ARMH @18.35 as it retook its 50 day MA in good volume. In the rapidly improving semiconductor sector as well.

Good luck.

The author owns ORCL NVDA BUD ARMH.

AM Meandering

Markets fought back to recapture most of the weeks losses Thursday. Gains were broad and leaders were strong. Optimism over the GM IPO and a strong Philly Fed number helped the markets enjoy healthy gains. Ireland seen to be open to an economic package also helped. Leading stocks that had earnings and continued to enjoy robust gains were ARUN LTD NTAP.

Stocks that can be bought if they pass thru their 50 and 200 day MAs are: SMG thru 52.25, AKAM thru 49.50, ARMH thru 18.25. Those are all their 50 day MA. Stocks that can be bought as they move thru their 200 day MAs are: RRC thru 43.50, SWN thru 38.50, GPS thru 21.20.

Both MCO XRX found 50 day support today. PETM had earnings and looks headed for its 50 day MA @36. Watch to see how that stock performs there. Another example of a stock plunging post earnings to find support at its 50 day MA is SPRD. It ended up closing strong on its highs of the day.

GS is now sporting a 171.71 buy point in a cup with handle pattern. OIH has a 103.38 buy point in a cup with handle pattern. Recent ETFs that have found 50 day support include JJC RSX MOO SPY.

COH was a standout on an otherwise relatively weak retail tape. Something to keep an eye on. RIMM can be shorted if it fails to break above its 200 day MA @59.

Portfolio changes include buying NVDA @13.20 as it enjoys 200 day support post earnings and BUD @60.25 as it passed back thru its 50 day MA.

Good luck.

The author owns ORCL BUD NVDA.

AM Musings

Markets are strong this AM after a mixed finish yesterday. Optimism of GEs IPO, Ireland problems possibly resolved and jobless claims. Volume came in below average levels suggesting big players (mutual funds, hedge funds, pension funds) didnt sell en masse.

Stocks that continue to find support at their 50 day MA are: MAR @37, INTU @46.50, RHT @40.50, ORCL here, EMN @76, AAPL here, ARUN @21, AMT @51, APKT @39, CHRW @70, HAS @46, YUM @48, NKE @80, IBN @51. Stocks that will look to find support at that 50 day MA are: CAT @79, IPI @29, WYNN @100, APC @60, COP @59, MUR @64, NBL @78, AA @12.50, ABX @47.50, AMP @50, CVLT @28, INFA @38, TIBX @18, CE @34, JNPR @32, TDC @38, RAX @25, SWC @17. A buy stop on BUD can be put in @60.25 as it clears its 50 day MA. Same for ARMH @18.25 as it drives thru its 50 day. Has been basing there tightly for a couple weeks now.

Stocks that found support at their 200 day are: ROG @65, NVDA @13, EGO @16.25. JCG looks to challenge its 200 day MA @39. Put in a buy stop just above that number.

QCOM now has a 49.55 buy point in a cup with handle pattern.

Gap ups still intact are RVBD PH BRCM WFMI.

Good luck.

The author owns ORCL.

Night Charting

Distribution days are starting to add up for the indexes. Leaders getting hit, and 52 weeks lows outpacing 52 weeks highs for the first time in a long while added to the gloomy outlook here. Today it was continuing concerns over potential China interest rate hikes and Irish debt issues. Perhaps the market just needs a healthy correction here, having a huge recent advance.

Stocks again are not providing specific buy points, but testing support levels. Equities that are trending toward their 50 day MAs are: AXTI @7, YUM @48, MUR @63.50, NBL @78, AA @12.50, INFA @38, INTU @46, TIBX @18, AAPL @295, NTAP @51, TDC @38, BIDU @100, QCOM @45, SWC @17, CAT @78, JOYG @71, GPC @46, MDC @76.50, PM @57, AMP @50, TRMB @35, PAY @30, BEAV@33, XRX @10.75, BMC @42.50, CBE @50, NTGR @28, DFS @17, SIAL @61.50, KBR @25, M @23, CCL @40, PLL @42.

Stocks that found support at their 50 day today despite the nasty sell off and must be commended are: DE CMI HOT CVX EMN NKE EMC CHRW VALE IBN QSFT RHT ORCL HAS. See how they perform in the next sessions.

Stocks that found support today at their 200 day MA are: RIG @65, FDX @84.25, EGO @16.50. Stocks trending toward their 200 day MA and where that support is are: CNI @61, NEM @57, PFE @16.45, MRX @26, MRVL @18.50.

Individual stocks that performed well on a horrendous tape were retail stocks. JCG LULU MELI WMT URBN DKS COST UA. Semis TQNT CREE both finished in the black today. Energy stocks that finished in the black despite cruse being down 3% today were CRZO CXO. Take note. WFMI BRCM gap ups still intact.

Stocks that lost their 50 day MAs CB CTXS CRM. JKS down 7 days in a row also now below its 50 day. Real estate got hit today hard. SPG VNO BAM PSA. Although most found support at 50 or 200 day MAs be careful. Heavy volume accompanied the move down.

JJC sold off in huge volume but found support at the 50 day. EWZ could be headed for 200 day MA @71.

Will be looking for shorting opportunities from here on out.

Good luck.

The author owns ORCL.

Don't Cry for Me Argentina

In the face of tragedy, the beauty of opportunity awakens and educates. Not even a month removed from ex-president Nestor Kirchners' death, Argentina is hopeful for a transformation. World leaders extended their condolences to current president and widow Christina Kirchner while stocks spoke in their own language. They soared. Markets in Buenos Aires were closed for Census Day on October 27th but Argentinean equities that trade on international exchanges skyrocketed, realizing the possibilites of a more business-friendly and political environment.

The dynamic duo of Nestor and Christina Kirchner was increasingly viewed as power on the political decline. Nestor, who became President in May of 2003, was in office until 2007. Christina succeeded him as President in 2007 and is currently in office. The "first gentleman" of Argentina was widely thought to continue a political dynasty, planning to run for President in next year's elections (Argentine law states that a President can have an unlimited number of terms as long as they are not successive). He was seen as the real power figure during his wife's administration. Regardless, the pair - hailing from the legendary Peronist party - has seen their left-leaning views losing lusture.

The popularity the Kirchners enjoyed began its descent for a number of reasons. During Nestor's term, he enjoyed widespread popularity. He guided the country through the economic crunch on the back of a worldwide commodity boom. The problems began to creep up during Christina's term. In 2009's midterm elections (similar to ours here last week), the power broker couple and their party suffered heavy losses. She had a negative face off with farmers, upon whom she imposed a huge tax hike. Massive protests and strikes left her embarrassed and withdrawing the increases. Christina also nationalized the country's Social Security pension system. The theft of $30 billion in private retirement funds from her citizens accelerated her demise. Regardless, she has sought to silence her dissenters in the media. Her courting of President Hugo Chavez, who is increasingly looking like a polarizing figure in the region, is adding to her fragility.

When markets speak, it's very wise to listen. The recent run up in Argentinean bonds and equities is a stark reminder that countries who attempt to liberate themselves from suffocating government will be viewed in a favorable light. Argentineans are growing tired of incompetent politicians. They loathe their high crime and poverty rates. Inflation is spiraling out of control and much worse than actual reports as Nestor took control of the country's National Statistics Institute in 2007. Argentina is geographically in a wonderful spot. Touching both economic powerhouses of Chile and Brazil, it should be in much better shape than it is now. Let's hope that voters next year remind themselves of that when they head into the ballot box.

AM Meandering

Stocks exhibited more bearish behavior today. Closing on their lows after opening upon their highs. Leaders such as AMZN AKAM JNPR all fell. And the negative reaction to good economic news (strong auto and retail sales), and merger activity was not inspiring either. Volume did fall however. Today look for PPI, industrial production and WMT earnings.

DTV can be shorted below 42, its 50 day, after the big outside reversal on 11/4. SQM, sell stop below 49, its 50 day as well. OPEN found 50 day support but the stock is well extended and could be shorted if it loses that 50 day. VMW closed back below its 50 day. Volume never kicked in on the upside as it broke thru its 50 day, which prevented us from buying.

Stocks that should hold their 50 day MA are: PCP here, FOE 13.10, SIAL 61.50, PPG @74.50, BKI @16, AMP @50, SWKS @21, NKE @80, HAS @45.50, HS @26, DD @45.75, AMT @51, ARUN @21, NTAP @51, INFA @38, EMN @75.50, NBL @78, HOT @54.25, JKS @30. If they can hold that line consider it bullish. If not look to short. Stocks that should hold at their 200 day MA are: RIG @65, CNX @40, VNO @80, EGO @16.25.

BCSI rallied nicely off its 200 day today. MCO sporting a 29.03 buy point in a cup with handle base.

ETFs that are looking for 50 day support are: FXI @44.25, EWZ here, EWG @23, EWA @24. RSX now has a 36.51 buy point in a cup with handle base. XLF 200 day MA is 14.75. Look for support there. TBT which broke thru its 50 day in good volume on 10/14, is looking to challenge its 200 day MA near 39.25 very soon. See if it can blast thru that line to continue its uptrend. Or it might prove resistance.

Good luck.

The author owns ORCL.

Weekend Warrior

Concerns of potential China increasing interest rates delivered a poor showing for US indexes. Before the open the Shanghai composite dropped more than 5%. Although our markets did drop, they finished off the lows. However, the markets leaders were wounded. AAPL BIDU among others were weak. When the leaders drop, caution is the name of the day. A look at the daily S & P 500 chart shows a cup with high handle base developing. Is this index headed to its 50 day MA near 1160? Only time will tell.

Most charts seem extended here. Stocks are not showing specific buy points for the most part. They are trying to consolidate their recent gains or drifting back toward moving averages. The all important 50 day moving average is where the weakness usually stops. A number of stocks that can get there this week are: HOT @54, JKS @30, TTM @27, MUR @64, NBL @79, SU @33, SUN @37, CVLT @28, INFA @38, INTU @46, QSFT @25, RHT @40, TIBX @18, ORCL @27.75, EMN @75, BAM @29, EMC @21, ARUN @21, AMT @51, DD @45.75, CHRW @70, EXPD @48, UNP @85, CLF @65, VALE @31, CAT @78, JOYG @70, VIT @33.75, COST @63, NKE @80, MT @33.75, IBN @51, BBD here, OVTI @24, SWKS @21, AXTI @7, AMP @50, CB @57, TRMB @34, PAY @30, BEAV @33, NTGR @28, TKR @40, SIAL @62, KBR @25, CCL @40. Stocks which may show support at their 200 day MA are: RIG @65, CNX @40, VNO @80, CNI @61, SWK @58, DISCA @38. See how these perform at that line of support. If they bounce off of it in strong volume its safe to buy. If that line gives consider shorting it.

Some stocks which are showing buy points are: ANN @24.92, a cup with handle. TROW @60.62, a cup with high handle. As long as NVDA can stay above its 200 day MA @13, stay long. GPS above 21, put in a buy stop above its recent consolidation, and 200 day MA. UPL is holding its gains above its 200 day as its peers SWN RRC are faltering there. Something to keep an eye on.

Stocks that showed strong relative strength Friday included JNPR AVGO. Keep an eye on those for tells in those stocks. MSCC had a nice earnings gap up and WFMI recent earnings gap up still intact. SOA which we recently flagged a few weeks ago blasted out of the right side of its base this week. Look for an entry point around 19.75.

VXX had a big move upward in monster volume Friday. I see no reason why in the next week or so it can not gravitate toward its 50 day near 54. Stocks that can be shorted are: OPEN under 62, ARBA under 18.75, CTXS under 63.75. All there 50 day MAs. SQM had a negative outside reversal day 11/9. Put a sell stop in under 49, its 50 day, to short it.

Quick note. I have no opinion on the stock at all but TSLA chart continues to perform well. Regardless of how you feel about Elon Musk he perhaps may be delivering a type of car and profitability that many were skeptical about.

We are now out of RADS as it dropped below its 50 day MA. We are getting real small here as the market direction is a little uncertain here. As always we remain vigilant and have our buy list ready.

The author owns ORCL.

Evening Thoughts

Indexes battled back from an early plunge after CSCO took the Nasdaq down over 2% at the open. Markets to their credit rallied back. Lets keep in mind CSCO is a former leader. Leading stocks performed admirably. Volume fell with the exception of the Nazz where volume increased due to huge volume in CSCO.

Regarding CSCO networkers took it on the chin early. However most in the group were able to climb there way back to close at session highs. JNPR finished unchanged after being down almost $2 intraday. ARUN found 50 day support. NTGR finished near its highs for the day. All these probably gained market share on CSCO.

ORCL found 50 day support to close on its highs of the day. CHRW found 50 day support to. DD 50 day is 46. NVDA is trading just above its 200 day line after posting a fine earnings report after the close. See if it manages to close above the line. Remember to put in your buy stop on RIMM above 60. RIMM demonstrated strong relative strength today.

CNX RIG continue to trade above their 200 day MAs. SWN RRC continue their fight with their 200 day MA.

Sure GS boosted HAL target and estimates today. The stock hit a 2 yr high today. This after the intraday 10/28 plunge after the government tried to blame HAL for the spill. Shame on the government. Good work HAL.

Good luck.

The author owns ORCL RADS.

Mid Morning Thoughts

Stocks performed admirably Wednesday after an early morning selloff. They staged a nice afternoon rebound although the volume was not above average. The miners recovered some of the previous days outside reversals. That battle is far from over. Techs could be in the spotlight after CSCO plunge after hours regarding Chambers comments. The Nasdaq could obviously see some repercussions due to the fact that although the company is a laggard it still has a big chunk of the indexes market weighting.

Stocks looking for 50 day support are: CHRW @70. BBD @20.50, WYN @28. BUD bounced right off its 50 day yesterday and for all you Speedo lovers out there lets see if WRC can hold its 50 day @52. As far as retail goes the luxury names are proving that the wealthy are still spending from the looks of charts on COH TIF SKS WSM. RL had a montser earnings move yesterday in the group and JWN is building the right side of its base.

Networking names that may fall due to CSCO today include ARUN NTGR. ARUN should find support @21, its 50 day. NTGR should find support @29, its previous breakout point.

Software names were strong today. CRM continues to hold its 50 day. CTXS VMW also continue to do well.

MRVL is starting a handle thats 3 days long now in its double bottom base. Potential buy point is 20.10. RIMM was stopped at its 200 day yesterday. If it can get above 60 put in a buy stop there. If not steer clear. LOGI near 20 looks good on a pullback. PFE looking for 200 day support @16.50.

Energy behaved decently today. CRZO is holding above its 26.26 buy point. CNX held above its 200 day. SWN is battling with its 200 day MA. MT held its 200 day. If X can print a 50 handle it would bode very well technically. Same for NUE AT 42. Buy stops on those right above the 200 day seem very good. EWZ near 76 its 50 day looks good. PCP near 135, back to its previous breakout point looks good to. See how it trades there.

Good luck.

The author owns ORCL RADS.

AM Musings

Stocks suffered a distribution day as volume climbed in heavy fashion. A dollar rally contributed to the fall especially in commodity related names. GOP voicing concerns over QE2, finance ministers around the world calling out Bernanke, and the CME raising margin requirements did not help the dollar. Although the market needed a break be vigilant to see if this could lead to an overdue healthy correction.

CRZO took out a 26.26 buy point in a cup with handle base on big volume. TKC did the same @19.48 bucking the markets weakness. Some software names held up decently today. VMW can be bought thru 82, its 50 day MA. Volume did not kick in yesterday to confirm the move. RIG still above its 200 day MA. Look for support there @65.50 to hold. APC looks like it could drift back to its 50/200 day MA @59.

Leaders 50 day MA that should hold at that line include: CVX @82, HOT @54, CHRW @70, ARUN @21, ISLN @25.25, COST @63, YUM @48, BUD @59. RADS needs to hold right here at its 50 day MA.

WFMI gap up had the stock bucking the weak day as well. ECA could challenge its 200 day MA @30.75 some point this week. See how it fares there. ANN looks to be forming a handle in its cup base. Remember it must be at least 5 days to be technically sound handle so be patient.

X was denied at its 200 day MA again yesterday. If it could ever get thru that line put in a buy stop. CIB needs to hold right here at its 50 day MA. CTSH could be shorted below 66, its 50 day. Same for OPEN which could be shorted under 62, its 50 day. SMG 50 day now resistance @52, its 50 day MA. Look for support near the 200 day @47.

Gold and silver miners really took it on the chin yesterday. Many had outside reversals. Other names that had outside reversals and should be watched carefully for they are bearish in nature are: EGO FCX ANV BVN NEM CLF SLW SWC VALE ROK SCCO EBIX SQM CAM FTI SLB WLT.

Good luck.

Sold my FCX for a 4 dollar gain and CAKE for a one dollar gain.

The author owns ORCL RADS.

AM Meandering

Markets took a small pause Monday. Taking a look under the hood however, did show some groups that buyers were active. Energy, chips, autos led the way. A telling sign were how the energy and commodity groups bucked the stronger dollar Monday. Last Friday among stocks on their 52 week high list, and there were plenty, energy led the list. Buy strength.

In the energy sector RIG took out its 200 day MA @66. That line was resistance all last month. RIG has performed well since we flagged it popping above its 50 day MA in strong volume in early August. CNX also took out its 200 day MA @40 in good volume yesterday. These both can be bought here as long as they stay above that 200 day and close above that line. UPL took out its 200 day @44.50, although it was in lower volume. Look for RRC to challenge its 200 day @43 and SWN to do the same with its 200 day @38 this week. Buy stops can be put in for both RRC SWN above those lines. PBR remains above its 50 day MA @35. Look for it to gravitate toward its 200 day @38.

CRZO has a buy point of 26.26 in a cup with handle base. WLT has a 99.55 buy point in an 8 month cup base. May go on to form a handle however. NEM broke thru its 50 day MA @62. Look for it to make yearly highs above 65.50 soon. CAT broke out of a flat base last Thursday @81.30 and is still holding that breakout nicely.

Tech stocks that show my interest right now are: VMW. Put a buy stop @81.50 if it can regain its 50 day MA in strong volume. RIMM headed for a 200 day challenge @59. A (Agilent) is nicely building the right side of its base.

Retail has been popping back up the radar with plenty of leaders (COH TIF WFMI SBUX NKE) showing the way. GPS, although a laggard, can be bought here as long as it can hold its gap up above 20. Right now displaying 200 day support. Watch for 50 day support on BUD @59.

Gap ups still intact include BRCM WFMI COH GPC XXIA LTD HES.

ETFs doing well include FXI which blew thru a triple top on 10/13 and has not really looked back. XLF XHB both sectors that have not performed particularly well recently may be looking to play catch up. They both blasted thru their 200 day MA last Thursday.

Possible short candidates include: MRX, further losing its 50 day MA in big volume. Look for support now at 200 day @26 and resistance at the 50 day @29. DISCA, same chart. Support now at 200 day @27, resistance at 50 day @43.

Good luck.

The author owns FCX ORCL CAKE RADS.

A New Look GOP

As someone who follows patterns, I noticed a relatively ignored trend that developed last Tuesday: the distinct mixture of race, ethnicity and gender of those running for public office. Republicans, who captured the House and came ever-so-close to seizing control of the Senate, will bring a much more diverse cast to Washington than in races past. African Americans, Latinos and Asian congressmen-elect will bring their fresh and contrasting visions to the Oval Office. A "change" is coming to the White House.

Not since the Reconstruction Era have more African American Republicans ran for Congress. At least 32 threw their hats into the ring this November. Ironically, most hit the campaign trail because of President Obama. Obama, who - to his credit - admitted to the shellacking the Democrats took on Tuesday, has confidence in potential black congressmen. Although no African American will be serving in the Senate come January (Ronald Burris retires the Illinois seat he was appointed to by Obama), the House of Representatives will greet two new members: Allen West of Florida and Tim Scott from South Carolina.

Other prominent GOP victories this past week include Tea Party favorite Nikki Haley. Of Indian descent, she becomes South Carolina's first female Governor. Marco Rubio, of Cuban heritage, will be Florida's next Senator. Susana Martinez, a Mexican, is set to become New Mexico's first female Governor. In Nevada, Harry Reid's son Rory lost his gubernatorial race to the Brian Sandoval. In January, he will assume the role of Nevada's first Hispanic governor. All these candidates possess a strong admiration of conservative values. They prefer small government, lower taxes and eliminating any burdening obstacles entrepreneurs face in trying to stimulate job growth.

The media silence surrounding the absence of a Republican African American in Congress since J.C. Watts of Oklahoma (retired in 2003) was disturbing. Maybe it didn't fit the far left image of Republicans as a biased, narrow-minded bunch. Was it coincidence that the media missed reporting almost all of the African American, Hispanic, Asian elect were endorsed by the Tea Party? I think not. They tried to portray the Tea Party as a racist, anti-immigrant organization. Maybe sometime soon we'll be lucky enough to have something other than the partisan media monopoly that exists today. But I'm not holding my breath.

Weekend Warrior

Indexes took a healthy pause after a big rally on Thursday. Volume was tame. Just what you want to see after a big run up. For the week the S&P led the way with a 3.6% gain. The Dow and Nasdaq both finished just under 3%. The jobs number premarket Friday was benign. A stronger than expected 159,000 jobs were created in October but the market failed to rally on the news. As a bull market should act it closed with a late round of buying to finish near highs of the day.

Semis have been strong as of late. TXN hitting 2 yr highs. Looking like its former leader self. Two small caps in the group that had nice earning gap ups recently include: AXTI ATML. Look for them to hold their gap up and move higher. MRVL MXIM looking strong as well. NVDA closing in on its 200 day MA @13. Put in a buy stop just above that line. ARMH continues to struggle with its 50 day line @18. If it can bump up and push thru it put a buy stop @18.25. If it fails there it can be shorted.

The metals are all looking bullishly on the charts here. NEM a buy stop can be put going thru the 50 day MA @62.40. If we can be fortunate to get some ABX @47 near its 50 day pick some up. Put a buy stop in on X @50, the 200 day. It has been stopped at the line in both July and August. Put in a buy stop on NUE @42, also its 200 day MA. Is it any surprise that a foreign steel maker is a little bit ahead of our own domestic steel producers. MT peaked its head above the 200 day line late this week. Purchase it near that line if you can.

A common theme I have repeatedly brought up these last couple weeks are the earnings reactions among leaders. Having negative response to the report (the day of the earnings report) only to find support at its 50 day, then proceed higher. Add AMT which found support @50, its 50 day MA, then finishing 2 dollars higher. DVA PPO CEDC did the same thing late this week. Other names that acted in similar fashion this week were CMI HLF HS CHRW SUN.

Stocks with specific buy points are: ROVI @53.10 (flat base), TKC @19.48 (cup with handle), WLT @99.55 (cup without handle, although it may go on to form a handle). HES broke out on 10/18 @64.78 from a cup with handle base. This week had a nice earnings related gap up. Watch that one closely.

SBUX had an earnings gap up. WFMI gap up still intact, but barely so. XXIA broke away from its recent gap up in big volume this week.

Other entry points for stocks are: CNX @40.50, UPL @45. Both buy stops thru their respective 200 day MAs. CEDC looks to challenge its 200 day this coming week. A buy stop can be put in just above 28, its 200 day.

JCG perked its head up above its 50 day MA ON Friday. BUD 50 day is 59. It should be bought there. CNI needs to hold its 50 day right here. Other stocks looking real strong now are AA GS KBR.

DISCA MRX both losing their 50 day MAs. Lets see if those lines act as resistance their now.

Good luck.

The author owns FCX ORCL CAKE RADS.

After Hours

Markets exploded today in higher volume. Almost all groups were strong. The SOX had a wonderful day. Tomorrow we have the jobs report. Indexes have made big moves this week with a shift in power of the house and the announcement of QE2. Some stocks in the software sector were well soft. CRM FFIV VMW all finished well lower on the day.

Stocks with specific buy points include: MAN @58.09 TKC @19.48. Both cup with handles. Equities flirting with there 200 day MA are RIG which a buy stop can be put in at 66. UPL buy stop @45 as it goes thru the 200 day as well. MT is now above its 200 day and X seems headed to its 200 day @49.

Gap ups today include: QCOM RIO SLW PAAS AEM WFMI. Recent gap ups MXIM BRCM COH all display very bullish behavior. Breaking away from short term consolidation after recent gap up.

VMW failed at its 50 day MA today. A weak sign on such a positive day. ARMH looking weak as well as it finished lower and still remains below its 50 day MA.

On a totally different note TSLA screamed higher today on an announcement of a 2% ownership stake by Panasonic. For all the bad press it has received I wish the company luck.

Portfolio changes today were getting long FCX thru par and selling CRM SMG for no loss or gain. Poor relative performance today.

Good luck.

The author owns ORCL CAKE RADS FCX.

AM Meandering

Stocks perked up and down and closed near highs of the day after the tepid reaction to election. After the fed announced its $600 B treasury purchase program the market found its legs. The Nasdaq closed to finish at a yearly high. Volume came in above average. The market continues its uptrend an the Nasdaq closed also at its highest levels since 2008. QCOM beat after the close which could help to further boost that index today.

RADS @18 and DISCA @42 both found solid support at their 50 day MA after earnings yesterday. We have flagged many of these opportunities recently. Stocks that are now challenging that 50 day MA are CREE EGO PBR. Buy stops can be placed on all of these as they push thru that line. CREE @53, EGO @18.85, PBR@ 35.15. VMW looks to be heading to that 50 day line soon and a buy stop can be place there @81.

SWN has been seeing some strong recent accumulation after breaking thru its 50 day. Perhaps anticipating a more friendly Republican majority. Buy back toward 34 if you can and watch to see how it challenges its 200 day MA near 38. MT is challenging its 200 day right here basically. Buy stop on MT @35.25. NEM, a laggard its the gold mining group behind leaders AEM ABX, could be testing its 200 day MA @56 soon.

SLB NBL continue to look strong. WLT building its right side beautifully. MXIM earnings gap up last week continues to hold up solidly. Very bullish. TRMB also continues to trade well after we flagged its breakout @33.66 on 9/20. Great earnings yesterday.

Good recent defense includes the covering of JKS AVGO much lower. WFMI broke out @40.43 yesterday but having earnings after the close was to risky. Trading much higher in the premarket now of course.

Good luck.

The author owns CRM ORCL RADS SMG CAKE.

Election Day

Stocks rallied again today surprisingly on Election Day. Tomorrow we get the amount of QE2 the Fed will incorporate. Estimates are far and wide with the lower end at $250 million to GS predicting $2 trillion. Volume was up on the Nasdaq but lower on other indexes.

CMI rallied today after finding support after a bad reaction to earnings last week. Much like CHRW and HS it found solid ground at the 50 day MA. HLF did it today. Bouncing off the 50 day near 60 the stock rallied to finish lower but close on the highs of the day. SUN is their now. Sitting at the 50 day after a poor reaction to earnings last week. Lets see what the future holds for SUN. MRX has rallied off the 50 day MA today.

Real estate sector continues to look good. BAM VNO SPG PSA all continue solid uptrends with support along the 50 day MA all along.

JKS had a huge earnings gap up. Probably acclerated by a short squeeze combined with a genuine good number. XOM SLB continue their recent stellar moves of late.

Stocks looking to challenge their 200 day MA include: MT @35, NVDA @13, RIMM @60. Buy stops can be placed on all of those if they can penetrate those numbers on solid volume.

ARMH continues to live below its 50 day @18. Did not show relative strength at all today during the rally. Not a good sign. Lets see how it reacts if it challenges that MA @18.

Good luck.

The author owns CRM ORCL RADS SMG CAKE.

Early Morning Thoughts

Stocks not surprisingly finished flat ahead of the big Election Day. They started off with a bang however after economic news from China and ISM here at home were released. Volume was tame, again waiting not only on today, but the start of the two day Fed meeting and Fridays employment report. Real estate equities were strong today.

Stocks showing specific buy points include: XRX @11.82, cup without handle, PPG @78.10, 3 wks tight pattern. IR @40.23, double bottom with handle. AMT @52.44, flat base. SOA @18.68, cup with handle.

NTGR can be bought @29, back to its breakout spot. XXIA @15, close to its gap up area. AKAM @48, its 50 day MA.

A buy stop can be put on NEM @62.25 as it breaks free thru its 50 day MA. MRX needs to hold its 50 day here. Keep an eye on BLL here. Pulling back after a monster volume move to an all time high for the stock. Buy it on weakness as long as it lives above its 50 day MA @60.

Good luck.

The author holds positions in: CRM ORCL RADS SMG CAKE.