Interesting Chart Patterns To Monitor In Coming Days...

[MR]

Wednesday, 2 Sept 2009- Gold making a nice advance today. I bought a little of AUY in anticipation of more follow-through this month and AUY looked like it could be managable even under the worse case scenario type of near-term pullback. Also really liked NEM and AEM but felt like I would be chasing them to much here.

[MR]

Tuesday, 8 Sept 2009- Everyone had a nice long Labor Day weekend but now it is time to get back to work! This morning the pre-market action suggests a positive open. A few new observations worth noting this morning... (1) it took over a month since the US dollar made a newer low and then range traded back up... but today it finally is making another newer low, suggests a lower US Dollar coming this fall; (2) last time US$ when down inverse happen in NY Crude Oil... which might suggest why Crude is up nicely this morning-- suggest energy futures prices will hold steady to up now; (3) Gold is trading above $1,000 this morning... suggesting maybe either a flight to quality or what not sure yet; (4) the Chinese markets appear to be stablizing now. We will be watching more closely for money flow insights for better insights how these things will affect the near term market movements.

[MR]

Wed, 9 Sept 2009-- You know, as much as I want to say this market is topping out... It just doesn't seem to be acting that way? Maybe not in September anyway?

But I also have to add here, I am not comfortable with what I am seeing. For a year and a half I had this terrible feeling something wasn't right and did not add up when the market continued to hold up and do what many people could not fundamentally understand. I personally think it would be healthy if this market would take more of a breather than what it seems to be doing with very limited pauses or pullbacks. In the long-run, this behavior- this continuing strong uptrend- is going to only leave us with more serious heartache in the future.

As bullish as I have been in the past, as bullish as I might still want to be, I really am starting to get a little more concerned about what I am seeing right now. It just doesn't feel right.

Hey, I learned a long time ago not to tell the market what to do. I just watch and observe for the obvious and then try to take advantage of it as a trader. I will keep trying to do this but I am getting a little more afraid someday this market is going to kick my butt if I do not exercise some discipline and extra due diligence.

That is why I am having a hard time being fully invested no matter how strong things might appear at times. I just know trading is not this easy.

[MR]

Thursday, Sept 24 Update-- It has been a good month for bulls... however, we are approaching the end of this week and month...

BOTTOM-LINE: Be a little more cautious buying new stuff until Friday afternoon or into next week. Seems to be too much unexpected or anticipated hard selling at tops now... it suggests to me the big boys of the east coast are gunning for yours and my little guy stops again.

The rotation in NY ENERGY and METAL Futures is a little harder to the downside the last 24 hours. I think that means a little more profit-taking and lower prices is coming into those stock areas... If you like them, you could probably be able to buy them cheaper if you are more patient right now if this impression is correct.

I got a little more invested during September as things improved but still have saved a good deal of cash for buying things cheaper on a good pullback. We still have the defensive October month to deal with so odds favoring at least one good pullback before we once againi challenge Dow 10,000.

[MR]

Tuesday Morning, Sept 29 Update - We said last Thursday we warned bulls to stand aside and let the market correct, as we felt the 'big boys' were going to be gunning for stops, or it looked like the market was entering a pullback phase. Our warnings proved to be wise. Thursday and Friday ended up being down days.

Now Monday the market nicely rebounded. Selective quality stocks were being bought again at those cheaper prices.

We continue to remain optimist the market has not run out of steam and will not quit inching higher over time until, for example, the DJ Industrial can officially once again test 10,000... or even move up to my 10,430/10,500 next real target areas.

Originally posted by MR
Thursday, Sept 24 Update-- It has been a good month for bulls... however, we are approaching the end of this week and month...

BOTTOM-LINE: Be a little more cautious buying new stuff until Friday afternoon or into next week. Seems to be too much unexpected or anticipated hard selling at tops now... it suggests to me the big boys of the east coast are gunning for yours and my little guy stops again.

The rotation in NY ENERGY and METAL Futures is a little harder to the downside the last 24 hours. I think that means a little more profit-taking and lower prices is coming into those stock areas... If you like them, you could probably be able to buy them cheaper if you are more patient right now if this impression is correct.

I got a little more invested during September as things improved but still have saved a good deal of cash for buying things cheaper on a good pullback. We still have the defensive October month to deal with so odds favoring at least one good pullback before we once againi challenge Dow 10,000.

[MR]

We are now in mid October and I have not been able to update on things recently because I have been incredibly busy with doing many other daily tasks. I apologize for this.

I still think the market has more of a bullish tint to it and have not covered or reduced my exposure to the upside. I actually became fully invested again early last week to take advantage of what I think is more short-term bullishness in my selective stock positions.

I honestly cannot explain everything going on but for now I am content holding Longs with trailing stops to protect those positions. Below are some little recent ideas tracking with updated comments....

Energy and metals continue to hold well today. Last week refinery (SUN, MRO) and some of the fertilizer (POT, CF, AGU) groups started to perform a little better. Also noticed that some of the select shipping (FRO) stocks acting like they want to start inching up a little but.... Holding steady on metals (BVN, etc), energy, some financials, some techs, some Chinese and Brazilian ADR's, to name a few areas still interesting. (GMCR)...

Interested action in LMT and COST this morning....

Overall, am content with my bullish positions.

Bottomline: If you are a Bear, it doesn't seem like it is time to establish any big new major positions, in general; if you are a Bull, it looks like you still can accumulate selective positive patterns for your personal trade ideas if you have proper risk/reward and money management.

Originally posted by MR
Tuesday Morning, Sept 29 Update - ....We continue to remain optimist the market has not run out of steam and will not quit inching higher over time until, for example, the DJ Industrial can officially once again test 10,000... or even move up to my 10,430/10,500 next real target areas.

[MR]

Tuesday 27 Oct Update-- Looking like money managers scrambling to lock in some gains for the year so they can still earn bonuses before the govt changes the rules again on this... We are currently in a "pullback (profit-taking) mode".... waiting patently for some cheaper prices to focus on later.... in no hurry now. Just be patient because there still may be more end of the month position squaring. It has been a long time since we had a pullback so a little pullback now is not the end of the world.

[MR]

NOV 2009

Wednesday 3 NOV Update-- Looks like our recent pullback may be over and the bulls are stepping to the plate to try and re-establish a base to push back the previous uptrends.

Symbols to check out if an aggressive trader interested in something to consider trading.... AMZN, NFLX, CMG, EBAY, JOYG, AIG, ATW, RIG, JPM, BBT, GS, BEN, TGT, WYNN, V, WLT... a little more risks but ok in general: AAPL, ACI, GS, FDX, IBM, OIH, PCLN, CAT, SUN... (also like aggressive buy setup now in AIG with very tight trailing stop.)

Caveat: Am just trying to be a little more conservative with ideas right now... your other regular high-fliers could also be worth a look over the next few days if you can deal with a little bit higher risk now on new entries... would use tight trailing stops with new ideas to be safe at this stage.

Last General Comment: Deep down inside I still don't think the market wants to top out just yet... deep down inside I still think believe in SANTA... deep down inside still thinking odds favorable Santa (rally) might still show up early this year.... just not ready to give up on the recent bull despite a complex, deeper pullback the past two weeks.

[MR]

Re: NOV 2009

Wednesday, 10 March, 2010-- I haven't updated this thread in several months. My apologizes, just busy doing other things.....

Most all the stocks I suggested you focus on back in November still look respectable for the near future. (see quote below)

As I suspected, the US stock market did continue to inch higher, rally more until the end of 2009. We did get a strong correction in January, followed by a continuing improving market since.

Yesterday the Nasdaq 100 took out the previous December highs and has been leading the way. It appears the S&P and INDU are following similar pattern trajectory and only lagging slightly behind.

Bottom-line: I still desire to buy things on dips, or a good pullback, and am not anticipating a major topping market building in the near future.

Near-Term Worst Case Scenario: If the US stock market retraces in any strong way over the next two months it will end up only becoming a big A-B-C complex correction. This means longer-term Bulls still have the upper hand going into Spring or early Summer.

Again, my apologies for not maintaining this thread. I have been busy this long winter and just came out of hibernation! Best wishes to my friends out there.

~ marc

Originally posted by MR
Wednesday 3 NOV Update-- Looks like our recent pullback may be over and the bulls are stepping to the plate to try and re-establish a base to push back the previous uptrends.

Symbols to check out if an aggressive trader interested in something to consider trading.... AMZN, NFLX, CMG, EBAY, JOYG, AIG, ATW, RIG, JPM, BBT, GS, BEN, TGT, WYNN, V, WLT... a little more risks but ok in general: AAPL, ACI, GS, FDX, IBM, OIH, PCLN, CAT, SUN... (also like aggressive buy setup now in AIG with very tight trailing stop.)

Caveat: Am just trying to be a little more conservative with ideas right now... your other regular high-fliers could also be worth a look over the next few days if you can deal with a little bit higher risk now on new entries... would use tight trailing stops with new ideas to be safe at this stage.

Last General Comment: Deep down inside I still don't think the market wants to top out just yet... deep down inside I still think believe in SANTA... deep down inside still thinking odds favorable Santa (rally) might still show up early this year.... just not ready to give up on the recent bull despite a complex, deeper pullback the past two weeks.

[MR]

Market still steady... safe on pullbacks.

Tuesday, 23 March 2010- The health bill passed and we did not get the selloff many thought might happen. The market appears to still have a little spunk left to it. The market continues to climb higher on a 'wall of worry' that is not showing any desire for a pullback.

Still noticing buy setups with manageable risk verses rewards and still realistic stop losses just in case...

All I know is if we do pullback someday, I still am inclined to buy something... AAPL and CLF are a couple that come to mind.

[MR]

BA & GE

Wednesday 24 March 2010-- BA and GE are two Dow stocks I would be comfortable owning a little on next pullback in March/April... with, of course, a properly defined risk/reward entry and stop loss strategy... maybe DIS and KO, too? (As a part of a diversified, not too much of any one stock in a longer-term investment type of account.) Once profitable, would then use a conservative trailing stop initially to protect any profits yet trying to avoid prematurely getting picked off.)

[MR]

Thursday 25 March -- Below are stocks worthy of focus... do your own due diligence to determine if you agree:
AMZN ready to improve now again....
FLS looks like a legit daily breakout today...
LRCX should continue to improve near-term now, track for a pullback...
BEN looks very interesting for bulls, waiting for breakout confirmation...
CREE still has some legitimacy to this this strong trend...
V and MA look like little buy swing trade setups...
DECK looks still strong, great pullback buy candidate...
CLF has same impression as DECK...
BA same impression as DECK and CLF...
AAPL still has uptrend sustainability on pullbacks...
CME finally uptrending again, if it now stays above 300 on pullback...

[MR]

Monday, 5 April 2010 --

We continue to like many of last months stock ideas... on pullbacks, or course. Here are a few update observations from this morning:

Energy slowly getting better this spring; crude oil making a move recently.

Attractive recent trends appear solid, worth ideas on pullbacks-- CLF, WLT, GD, FLS, EWZ, and CLB, PRGO, CREE, RS, CNQ, PRU, SLX, CMI, TNA, GWW, SLAB, BXP, SPG, ROST, XME, WYNN, NFLX, PNRA, UPRO, CMG, AYI, BGU, keep rockin...

Seems like Gold is slowly (selective stocks) inching up again. TSL,HP,

Steel, some metals stocks acting well. ie, RTP acting well, newer high

[MR]

Wednesday, 7 April 2010 *** --

Some are already on my favorite list, but some of the stocks below are new... momentum plays to track closer this month for dips or pullbacks:

Tractor Supply (TSCO),
EOG Resources (EOG),
AutoZone (AZO),
Goldman Sachs (GS),
W.W. Grainger (GWW),
Chipotle Mexican Grill (CMG),
Priceline (PCLN),
Triumph Group (TGI),
Panera Bread (PNRA),
Netflix (NFLX)

kind would like a little bigger pullback on these as they get extended...
Apple (AAPL)
Deckers Outdoor (DECK)


*** Theses stocks are just things that stand out today for whatever reason. This is not an all-inclusive list. Also, remember, our US stock market has not had a pullback of any meaningful way in a long time. Someday we will get a surprise, so any new trades you have to factor in those kinds of risks. I just feel confident that any sudden, "unexpected" good pullback is to be expected and still should lead to many interested still in buying these stronger momentum play stocks I mention in recent posts the past couple months as buy opportunities. I am not recommending people chase things, just use their own discretion, due diligence, own judgments. My comments are simple 'quick look' only comments based on pattern matching and Elliott Wave observations. Over the years I have noticed when trading gets too easy, that is when the surprises show up. Things have been way too easy for the past two months.

[marginman]

Marc old friend, where do u post the AGET chart patterns of these issues?

Dean