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Tuesday, January 8, 2013

Positions, Watch List. 50% invested.

Positions:  (50% invested)
$CEX, XLU are for tracking intraday for FIUIX, FSCHX

 Watch list:

1/8 - JJG 51.98
 1/4 - IWM 87.05 (2x pos)
 1/3 - TSLA  35.40
 1/3 -  FB     28.13
On Monday 1/7/13 ES open interest actually went Down! Short-covering, like I haven't seen in a while.
 I see 2.766mil cars on ES today and if people getting short it will show more tomorrow.
People are looking for some kind of top. Skynard thinks "Big boys are selling into this crap", and I don't want to second-guess this great day-trader. Well, that's easy. Is that a H&S on hourly with target in 1440ish? Looks to be testing neckline now: (I used somebody's chart - "fear" annotation is not mine)
Only about a month ago I noted similar H&S (link) completed on 12/14/12, but didn't go to target and after initial break turned and went higher, only to collapse lower by end of December. What a cluster-fuck.
I actually made small profit in December, although I was mainly liquidating positions because of this Whipsaw notion. I will revisit this issue later, but visibly it was option #1 which later turned into cluster-fuck.
Can this all collapse now? I am not sure.
Trans (IYT) has been left for dead for months. Breakout.
R2K (IWM) had a monster rally, regardless of neg div, overbought etc. Breakout.
VIX, A/D and so on... all this is crazy bullish. And we didn't close the gap, we didn't even check that New-Year open yet. "Yet" is the key word here.
The way I see it, whatever correction we will get here - it has to be bought with reckless abandon. I will trade accordingly.
May be grains bottoming. Soybeans rolled into March contract and 1395ish is the level to watch.
Trying JJG again @ 52. I stopped out on 12/20 @ 52.76 at loss. It was a gap-down past my 54 stop. oops

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