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I bought some LONG calls at the opening anticpating the market strength.

I have bought those too early as the commodities reversal came after the Oil inventory report.

C.E stocks are still the best stock and I would load up ALL their calls instead.

Anyway, these are my buys.

Market Outlook

Market Trend: (Short Term)
UpTrend
(Buy stocks out of downtrend line and Short the Downtrend stocks only)

UpTrend Sectors :
Energy, Commodities related, Financial related, Health, Transportation
Homebuilders, Industrials, Retails & other consumer discretionary
DownTrend Sectors : None

Crude oil prices were up but market stay up ?

The market was up while Crude oil prices made a strong comeback ! This is a signficant action as market was able to look objectively at the stock prices based on earnings rather than on volatile oil prices.

This unusual relationship make it hard for any swing traders to stay with their trade. The earning seasons came at a right time !

It has been a long time that all the major sectors were able to move up together. This was what the market to substain a strong rally.

I will still keep my comments short waiting for the key GDP numbers today.

Regardless of the numbers, I am still slightly biased on the uptrend as the oversold commodities/energy stocks(C.E) will fired up the buying power for the market regardless of the numbers.

Remember the March bear market rally was fired up by the overbought commodities !

A key reversal day for commodities

C.E stocks were undoubtly oversold with the high volume selling the past few days. Yet we could not see the buying power to mark the reversal.

Today action was that key reversal buying we wanted for the C.E stocks.

I bought some LONG calls at the opening anticpating the market strength.

I have bought those too early as the commodities reversal came after the Oil inventory report.

C.E stocks are still the best stock and I would load up ALL their calls instead.

Anyway, these are my buys.

Market Outlook

Market Trend: (Short Term)
UpTrend
(Buy stocks out of downtrend line and Short the Downtrend stocks only)

UpTrend Sectors :
Energy, Commodities related, Financial related, Health, Transportation
Homebuilders, Industrials, Retails & other consumer discretionary
DownTrend Sectors : None

Financials (+2.01%), Tech (+0.52%), Health Care (-0.08%), Consumer Staples (+1.04%), Consumer Discretionary (+0.40%), Industrials (+1.53%), Energy (+5.59%), Telecom (+0.70%), Materials (+2.84%), Utilities (+1.45%).

Crude oil prices were up but market stay up ?

The market was up while Crude oil prices made a strong comeback ! This is a signficant action as market was able to look objectively at the stock prices based on earnings rather than on volatile oil prices.

This unusual relationship make it hard for any swing traders to stay with their trade. The earning seasons came at a right time !

It has been a long time that all the major sectors were able to move up together. This was what the market to substain a strong rally.

I will still keep my comments short waiting for the key GDP numbers today.

Regardless of the numbers, I am still slightly biased on the uptrend as the oversold commodities/energy stocks(C.E) will fired up the buying power for the market regardless of the numbers.

Remember the March bear market rally was fired up by the overbought commodities !

A key reversal day for commodities

C.E stocks were undoubtly oversold with the high volume selling the past few days. Yet we could not see the buying power to mark the reversal.

Today action was that key reversal buying we wanted for the C.E stocks.

There are many stocks to buy now with the continued lowering of crude prices.

Here are a few stocks from the sectors I am looking at.

Sister stocks: SOHU, SINA

Sister stocks: AMR, LUV

Sister stocks: PCX, ACI, MEE

Sister stocks: FRE, GS, LEH, IBN

Sister stocks: TSO

Market Outlook

Market Trend: (Short Term)
UpTrend
(Buy stocks out of downtrend line and Short the Downtrend stocks only)
UpTrend Sectors :
Financial related, Health, Transportation, Homebuilders, Industrials, Retails & other consumer discretionary
DownTrend Sectors :
Energy, Commodities related

A short term reversal in place

Market make a point to stop its consecutive selling days with a rather convincing higher volume reversal. DOW was up 266 points forming a nice bullish engulfing to signify that market is interested to go up.

The earnings have been rather good taking expectation of the high energy costs and financial crisis. Thanks to globalization. If we do get a positive US GDP number, it might paved the way for market to go higher for the next few months.

Oil stocks continued their selling with a lower crude price while the rest of the commodities (esp Coal and Steel) are showing signs of buying with better earnings coming out.

Until the oil stocks clear the majority of the buyers who attached their value to crude price, they might continued to go down. It might only be possible when Oil crude prices bottomed.

I have mentioned that commodities are likely to exhaust their selling with the last few high volume selling. All we need now is a rush of buying power to break their downtrend line and we will have the real leaders pushing the market up.

The current leaders on the move are health and biotech stocks. Many of their A class earning stocks are making new highs. So catch on their dips while you can ! They move real fast.

There are many stocks to buy now with the continued lowering of crude prices.

Here are a few stocks from the sectors I am looking at.

Sister stocks: SOHU, SINA

Sister stocks: AMR, LUV

Sister stocks: PCX, ACI, MEE

Sister stocks: FRE, GS, LEH, IBN

Sister stocks: TSO

Market Outlook

Market Trend: (Short Term)
UpTrend
(Buy stocks out of downtrend line and Short the Downtrend stocks only)
UpTrend Sectors :
Financial related, Health, Transportation, Homebuilders, Industrials, Retails & other consumer discretionary
DownTrend Sectors :
Energy, Commodities related

A short term reversal in place

Market make a point to stop its consecutive selling days with a rather convincing higher volume reversal. DOW was up 266 points forming a nice bullish engulfing to signify that market is interested to go up.

The earnings have been rather good taking expectation of the high energy costs and financial crisis. Thanks to globalization. If we do get a positive US GDP number, it might paved the way for market to go higher for the next few months.

Oil stocks continued their selling with a lower crude price while the rest of the commodities (esp Coal and Steel) are showing signs of buying with better earnings coming out.

Until the oil stocks clear the majority of the buyers who attached their value to crude price, they might continued to go down. It might only be possible when Oil crude prices bottomed.

I have mentioned that commodities are likely to exhaust their selling with the last few high volume selling. All we need now is a rush of buying power to break their downtrend line and we will have the real leaders pushing the market up.

The current leaders on the move are health and biotech stocks. Many of their A class earning stocks are making new highs. So catch on their dips while you can ! They move real fast.