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Friday, January 8, 2010: post today from my blog: we're up 1%...

Friday, January 8, 2010

CLF took off like scalded chimp...waiting for pullback.
 
Dang it..only 1/4 position...
 
Posted by Don't Take Losses at 9:54 AM 0 comments Links to this post
 
 
Markets weak...we bought the dip - up so far.
 
RVBD, SNDK and all the financials (check out the chart on XLF - volatility squeeze expansion...this is where the money managers are going...we follow).
 
Posted by Don't Take Losses at 9:48 AM 0 comments Links to this post
 
 
Index support and resistance levels - Futures down...
 
Nasdaq 100 (NDX)
First support is at 1847.54. First resistance is now at 1898.78.
For the Nasdaq 100 Index Tracking Stock (QQQQ) first support is at $45.44. First resistance is at $46.70.
S&P 500 (SPX)
First support is now at 1114.05. First resistance is at 1140.77.
For the Standard and Poor's Depository Receipts (NYSEARCA:SPY) first support is at $111.33. First resistance is at $113.95.
Russell 2000 (RUT)
First support is now at 624.13. First resistance is now at 643.28.
For the iShares Trust Russell 2000 Index Fund (NYSEARCA:IWM) first support is at $62.40. First resistance is at $64.23.
 
Posted by Don't Take Losses at 9:27 AM 0 comments Links to this post
 
 
Jobs reports bad..muted response so far...but whoosh down may come...
 
...Treasuries dipping down...data not good...
 
Posted by Don't Take Losses at 8:32 AM 0 comments Links to this post
 
 
Friday's Economic Calendar and related news
 
December's same-store sales looked decidedly healthy, with 21 out of 27 stores reporting better than expected numbers. Overall, sales rose 2.9% compared to the previous year, marking the fourth consecutive month of year-on-year gains and the best monthly showing since April 2008. Stores that beat expectations by more than five percentage points included Aeropostale (NYSE:ARO), Cato Corp. (NYSE:CATO), Children's Place (NASDAQ:PLCE), Saks (NYSE:SKS), TJX (NYSE:TJX), and Zumiez (NASDAQ:ZUMZ). (Here's the full breakdown)


Jobless claims inch up. Initial jobless claims rose 1K to 434K vs. 440K consensus. Continuing claims fell 179K to 4,802,000, the lowest level in around a year.

Friday's Economic Calendar
8:30 Non-farm payrolls
10:00 Wholesale Inventories
10:15 Fed's Rosengren speaks on the economy
1:35 PM Fed's Lacker speaks on the economy
3:00 PM Consumer Credit
 
Posted by Don't Take Losses at 8:19 AM 0 comments Links to this post
 
 
BAC @ 17, chart says goes to 25..pre-market buy..
 
..a bet the jobs report is why N'Obama scheduled a press confernce today re ecnomy...
 
Posted by Don't Take Losses at 8:15 AM 0 comments Links to this post
 
 
Trading from Strength: Jobs report and playing DEFENSE: CASH
 
Truth is I expect we gained jobs...and the market will spike...up. I still raised 25% cash...in case I'm wrong. Probaly should ahve raised more on Wednesday. Defense keeps you in the game to live another day...to score when its easy. There are always buying opportunities...selling is the hard part...becasue you need to sell when the excitement palpable,  pushing stocks up. That's trading from strength.
 
Posted by Don't Take Losses at 8:09 AM 0 comments Links to this post
 
 
Thursday, January 7, 2010
Tomorrow's Plan, After hours: raised a little more cash.
 
Writing this site helps me think. I must put together my thoughts, express them, be held accountable for them...that causes me to be firm in my thinking. I decided with the earnings report noise and the strange sector rotation today, especially away from tech...that I needed more cash. Raised another 5% cash, up to nearly 25%. If the reaction to the jobs report is great, we'll get a pop and a pull back. On that pullback I may add if the money rotation continues, to those that are attracting the money. Friday is a bad day to buy..sitting for 3 days to see if it was a good buy...so maybe I'll sit on that cash. Tomorrow will tell me.
 
Posted by Don't Take Losses at 4:52 PM 0 comments Links to this post
 
 
After the Close: Nasdaq $$s go to the Financials.
 
The big question is whether it continues. If so, we need to add to JEF and HIG on the jigginess in prices after the jobs report. Stopped out of a lot of our tech, STX, RVBD are down to placeholders, NTAP is 1/4 position, SNDK added back 1/2 position, on AMSC and SBAC we have 1/8 positions...did not add after stops although they finished up. Feeling heavy so have lightened up.


http://www.investortradestocks.com/ 


Disclosure: Long all mentioned