Wednesday, March 13, 2013

Daily Analysis and Stock Ideas for 3/14/2013

Daily Analysis -

Slow grind higher continues across the board. All 3 major indexes ended slightly positive on the day on the heels of strong Retail spending this morning. Dow has has had 9 green days streak now. Last time it did this was back in 1996. It almost seems the markets weren't surprised by the data since market turned only modest gains. Divergence with the Dollar continues. UUP hit my upside target of 22.64. In normal conditions, this run in UUP would've caused the market to tumble but we are not seeing any signs of weakness yet. So, lets continue to trade what we see and be nimble in our trades.

Some charts and levels to watch --

Resistance -   156.09, 156.70
Support -  155.20, 154.65, 153.25, 152.86, 151.40, 150.45, 149.60, 149, 148.42, 147.25, 146.30, 146, 145.60, 144.50, 144, 143.06

Long -  ARNA, VXX (23.70), 1/2 BBRY (13.15), CLF (24.50), MELI (90.10), AAPL 1/2 at 428.8, FSLR (27.08)

Short -
Added - 
  • 1/2 BBRY at 14.78(now full position again)
  • DOG 30.94
  • STWD - 27.88
  • SRPT 30.75
Closed -MCP stopped out flat. Gave up nice gains :(

Day traded SPWR (+0.10),  Z (flat)

Trade Ideas -


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