Wednesday thoughts

414
i have a lim order short HOT 59.12 if it gets there, in coming days,, 5800ish last

410
if HOT 60min can dirft a lil higher,,,and get some smaller 60min candles tomorrw,,,may be able to short for 3rd time,,,still see it breaking the 55.00 for swings

356
some stocks have large green bars closing near the top tho,,,pfe,, xom,, ffiv all up 1-2% vs spx up 0.3%,,, easier for longs in the individ stocks vs SPX SPY

353
and the daily DTL resist sits higher at 1339,,, for multiweek holds that needs to break higher else bears are in control, or sideways

349
spx ...these doji, spin top daily candles can break either way,,tho bias is up since 60min DTL was tested once

344
for swings,,,this is tricky area for either long or short,,,, cutting down position sizes makes sense until mkt direction higher or lower is confirmed

341
stopped out of gld breakeven,,,that was a dud

325
raised gld stop to .68,,,it is really stuck here,now at breakeven stp (10 cents over cost)

302
stop 65.37 on KO for now

300
adding KO long swing here, 66.88

229
105.47 trgt for FFIV, last 104.06,,it may be waking up here,,,

225
for scalp piece of gld: stop 148.44, sell lim 150.20 ,, last 148.88

217
have a trgt of 96 for BAL, last 86.50, but not time to add yet, may want 84 first

215
cotton selling hard here into the 215--230 time,,,will buy back today,,will wait tomorrow to maybe reenter long swing, BAL now 86.32 vs 88.41 high of day,,,stuff moves fast

213
i still like KO midterm swing long,,,will add to it on a break over its 60min DTL, could be lower or higher than curr price

211
KO coca cola needs a shot of RedBull, down almost 1% today

209
meanwhile GLD forming a bull harami on 15min chart minor pullback,,within a 60min uptrend,,,small bull flags on the 60min

138
stop 148.44 on GLD,,,if they run my stop then so be it,,,can always reenter,,tite stop with last gld 148.76, curr at breakeven on gld from yest entry,, if stopped will take 12 cent loss from 148.59 entry

126
out of corn for 5% profit on half and breakeven on other half (2 entries,,,second higher entry didnt work),,

125
they can move VERY fast and 6% profit can turn to 2% loss easily,, so will look to reenter when more stable

124
i'm taking profits on these a little early because of whipsaw expected in us dollar which may affect commodoties,,, lookng for corn exit next

123
exited cotton BAL for 6% roi,,,still see higher but will re-enter later

101
theres the spx 3-4 point pullback finally,,,followed by bounce ,, now watching for a higher hi which might be shortable

1249
the CORN lim is there based on stretch daily trgt,,,on a blow thru yesterdays high,,,i may take profit on test of yest hi (if it gets there) depending on the reaction of such test

1249
lim sell CORN today 4647 if able, last 4511

1245
will hold the gold GLD longer

1244
exited SLV for now, may reenter later,,,
7% profit is close enough to trgt

1240
lowering SLV lim to sell 3719 from .40,,,last 3688

1238
slv 45 cents from trgt

1213
SLV has managed a marginal break over 3660, at 3683 last,,,watching to see where it ends today

1152
that is,,,shorting the higher hi on bounce after drop

1152
IF spx gets a 4 point drop, then shorting the higher hi could work,,,waiting for that setup b4 trying scalp shorts, 3min charts,,,may not get today

1146
corn /zc in a bear rising wedge 15m chart,,,may need to exit half of the CORN today for smaller than desired profit

1144
if spx does not pull back, then will likely form a rising wedge intraday

1142
spx will likely get 1323 now, 1321 last, so close

1124
spx may range trade for a few hours if/when gets there

1123
watching reaction at 1323 spx if it gets there,,,should stall,,no stall then watch out above

1037
cotton /ct is approaching a test of 161.50ish prior hi/resist,,,still see a break over that in coming days hours, 158 last,, BAL cotton up 1.65% from yest

1030
mathmeticians consider 55% (not 50%) "random" for the stock market

1024
parab sar, boll band midpoint, and downtrend line on 60min are all very near each other

1023
fwiw,,, SPX 60min 14,3,3 stoch has been under 20 for 3 days now,,,with little downward movement since entering,,,often this will cause a rally IF the spx breaks over it 60min parab sar

1019
GOLD GLD is still buyable here, swing, imo,,,148.75

1014
slv exactly jhit the 3660 trgt and pulled back,,,will give it 4 hours more b4 deciding to take profits early on slv or wait for higher trgt

1002
poss bull flag 3min,,,
15min bear shoot star on es but those are often retested higher, needs confirmation

959
ES is now at resist on its 60min downtrend line,, sideways, lower, anything could happen this early in morn, tho stall sideways is the "textbook" suggestions

950
SLV does have to push thru a few hurdles b4 the 3780 trgt:  resist at 3660 (trgt 1) b4 3780 (t2),,, watching reaction here as its testint the 3660 R

940
...37.80 if able for 9.8% (curr profit 6% but holding for higher trgt)

939
SLV has gapped up over yesterday's daily target of 36.00.... Limit order still in place to sell the SLV at 37.80 if able


* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".