Market Curiosity: Exploring Markets And Systems

January 16, 2011

Outlook for January’s 3rd week

Filed under: Just Watching — Tags: , , , — Jeff Fitzmyers @ 9:38 am

Not a low risk time to go long in the next day or 2.
A) – The inverted Put Call Ratio is quite high.
B) – The CCI on the daily Summation ratio is high.
C) + The weekly Summation ratio is rising.
D) – The NYSE Bullish percent is high.

However, the trend in stocks is up and the fed (neither federal nor reserve) is printing and that buoys an upward trend.

James Flannigan of Gann Global put out a free outlook that suggests a major top in commodities and to consider shorting cotton, bean oil and wheat.

SJB – Jan 18th: Opps! — SJT short puts.
TIE – Jan 18th: Sold puts.
WMT – Jan 18th: Sold puts.
LLL – Possibly add to longs

Sugar Cotton Bean oil
(TSCO – INFA CTSH AZO ROL KO) – Jan 18th: Deciding not to short anything unless it sets up perfectly {kiss a MA from below}. Not the right environment currently.
CXW – Short and sell calls. Manages prisons. Will states continue keeping pot smokers in jail? Jan 18th: Sold calls.

Looking to go long SLW if price breaks Friday’s high with some alacrity for a 2-3 day trade. Expecting a bounce and then a retest of the lows.
+ Last bar was a hammer outside of the Bollinger band. This is usually followed by a bounce.
+ Broke through lower channel trend line and recovered.
+ Near past gap support.

Leave a Comment »

No comments yet.

RSS feed for comments on this post.

Leave a Reply

Please log in using one of these methods to post your comment: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s

Blog at

%d bloggers like this: