Wednesday, December 08, 2010

Market Talk

Market decent action today in almost every non-commodity sector.  We bought back 3 positions that we sold yesterday, all for lower prices but all still above support.   Bought MON on 20SMA bounce and in anticipation of 64 breakout, bought back ATPG (support farther away there - 50SMA) in anticipation of 16.5 breakout, and GD in anticipation of 70 breakout.   Natty is the only commodity acting well -- gold, silver, coal, ag stocks, and oil all were weak on the day.  We'd like to buy back our commodity sells from yesterday (including CLF OXY APA NBL which are all significantly lower from our sales) but want to be more patient on these and wait for tests of support. 

We'll be going through all our favorite commodity stocks and will list all of our support alerts in tonight's newsletter.