Wednesday, December 1, 2010


Here are some setups I like for today. The futures look pretty strong at the time of writing this post, and I am not a big fan of chasing gap ups, so I might not take any new positions today, at least not at the open. With 80% in long positions, the most I have been invested overnight in the last week or so, and the rest in cash, I am quite content to just sit back and take profits in case the market continues to be strong. 1200 will be the number to look for on the upside on S&P. I still don't think these are the kind of markets where you can just sit back and relax. Just too much news out there for that to be the case.

VLO - Huge short float. In a hot sector.

XIDE - Like the way it has held up during the entire pullback. Finally broke 8.10 yesterday.

MHR - Close above 6.25 is the key.

AN - Impressive volume yesterday. Look out for a break of the consolidation pattern.

Take care and good luck!

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