New Position: Long XRT 82.78
Name of Instrument: SPDR S&P Retail
Current Price: 83.09
Stop Loss: 80.44
First Target: 86.49 for 1/2
Reason For Trade: Anticipating a move over 2013 highs as we end last quarter of 2013. Like the tight risk to under the 50 DMA.
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Existing Position: Long EEM 42.85
Current Price: 43.25
**Stop loss: 41.19 Raised
First Target: 45.49 for 1/2
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Existing Position: Long: FXI 37.31
Current Price: 38.11
**Stop Loss: 36.74 (Raised)
First Target: 38.97 take off 1/3 to 1/2
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Existing Position: Long EWG 28.02
Current Price: 28.78
Stop Loss: 27.37
First target: 29.14 take off ½
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Existing Position: X Long 20.68 ¼-1/3 Position Remaining
Current Price: 23.84
Profitable Trailing Stop For Balance: 21.59
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Haiku by Mish
One stock said to an
other while making new highs:
this market is whacked!
S&P 500 (SPY) 173.60 is the 2013 high which we got really close to by end of day. Now, perhaps a bit of exuberance-expect a digestion day but won’t rule out a melt up either. Subscribers:Positive pivots
Russell 2000 (IWM) New highs and not on blow out type volume so should be good to go
Dow (DIA) Closed slightly red but away from the 50 DMA. Unless, that level breaks, still looks ok.
Nasdaq (QQQ) Back in 2000, the last gasp high before a correction was 84.94-not ruling that out either
XLF (Financials) 20.93 is the 2013 highs to clear
SMH (Semiconductors) New highs and a bullish engulfing pattern. See semis run-run semis run!
XRT (Retail) 83.24 is the 2013 high to clear to keep this going
IYT (Transportation) 121.00 is the 2013 high
IBB (Biotechnology) Confirmed bullish phase. If clears 208.50 like better. Subscribers: Still a couple of names here to look at for shorts
IYR (Real Estate) 67.77 is the 200 DMA
XHB (Homebuilders) Cleared those gorgeous converging moving averages. Subscribers: If 29.68 holds we will look here for a long above the moving averages
GLD Back to eyeballing the 50 DMA as resistance
OIH (Oil Services) New 2013 highs
XLE (Energy) Inside day
XOP (Oil and Gas Exploration) I have no position in the ETF, but this still excites the heck out of me to watch
TBT (Ultrashort Lehman 20+ Year Treasuries) TLT continued its accelerated run over the 50 DMA
EWG (Germany) New highs
FXI (China) Subscribers: Adding over today’s highs and R1 makes sense. China will release third-quarter GDP overnight. Its result will be very important for tomorrow's trading. Economists estimate that GDP will rise to 7.8% from a year ago, up from a 7.5% rate in the second quarter. Chinese retail sales and industrial production will also be released.
Bye for Now!
