Monday, August 9, 2010


Retail looks weak with the consumer hoarding money as evidenced by the high savings rate. The charts look weak too. The following can be shorted: ARO @26, BBBY@ 41, DBRN @25, JWN @37, URBN @ 35. Small cap semis have been taking it on the chin post earnings. Be careful here. VLTR can be shorted on strength near 22 (200 day MA). RBCN can be shorted on strength up near 29.75.

Recent solar IPO's continue to work. STRI, JKS look attractive.

I like APA with a buy stop thru 99. The third time testing the 200 day MA could prove to be the charm. SLB with a buy stop thru 64, similar circumstances. Buy stop on NUE thru 40.75, buy stop on ACN thru 41. Buy stops can be placed also on GS thru 158, FCX thru 76.50, NEM thru 58.40.

Lets buy some MTL back toward 22.60, CIB @ 54, and FNSR @ 15.

Again once entering following positions place your stop losses accordingly. No more than 7% should be compromised. Capital preservation. Good luck.

The author owns positions in FCX, AVGO, AMT

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