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The First Day Of The Year Ends Higher
The mind cannot foresee its own advance.
Friedrich von Hayek
Welcome back traders. I hope you all had a wonderful holiday. It is now time to get back to the markets and make this a great 2012. This will be a volatile trading year with the major headwinds coming in the first of the year. There will be rallies as well as major declines. If you are a long term trader and looking for a longer time buying opportunity that should not occur until later in the year. If you are a swing trader this market should present both long and short opportunities into the late summer. The first six to months of 2012 will ultimately have more of a downside bias to it so please remain nimble. Those of you that have taken the InTheMoneyStocks Methodology Webinar should have a pretty good idea of my 2012 forecast. Last years forecast was pretty much as accurate as I have been. It was a great trading year and we certainly look to repeat that performance.
At this time, the SPY looks as if it could trade up to the $130.00 area. There should be very big resistance around this level if the SPY gets up there with pulling back. Should the SPY pullback before reaching that level then we may have to adjust that resistance number. Today's rally was lead by the financial stocks and the commodity stocks. Both of these sectors should not have all that much upside left in the tank. JPM reached my max move level at $35.00 a share this afternoon. The stock may hold up in this light volume holiday shortened trading week as it remains the strongest financial out there. Many market leaders rolled over today, stocks such as MCD, SBUX, TJX, and SNDK all had poor intra-day action. This tells me that this market is only in rally mode because of the light volume holiday and the rally is obviously on borrowed time. I'm already starting to eye some stocks to sell short. I will post everything that I'm seeing on the hot charts. January is always a very tricky month and we must try and time this market correctly. Tonight, I will post some max move calculations for the U.S. Dollar Index and the TLT. These two equities seem to be very good for market timing.
The master resistance levels for the S&P 500 Index are 1280, 1299, 1316, 1335, 1352, and 1371. The master support levels for the S&P 500 Index are 1263, 1244, 1226, 1209, 1192, 1175, 1158, 1141, 1121, 1107, 1090, 1074, 1058, 1041, and 1026.
February crude finished the session higher by $4.13 to $102.96 per barrel. The master resistance levels for crude are 105.00, 109.00, 115.00, 119.00, and 125.00. The master support levels for crude are 100.00, 95.00, 89.00, 84.00, 79.00, 74.00, 69.50, and 66.00. Please remember oil is very sensitive to adverse weather, geopolitical events, and the U.S. Dollar.
February gold finished the session higher by $33.60 to close at $1600.50 an ounce. The master resistance levels for gold are 1617, 1634, 1657, 1674, 1698, 1716, 1740, 1758, 1782, 1800, 1825, 1842, 1867, 1886, 1911, 1930, 1955, 1974, and 1999. The master support levels for gold are 1594, 1577, 1554, 1537, 1515, 1498, 1477, 1460, 1439, 1422, and 1400.
The 10 year bond yield finished the session higher by 0.089 to close at 1.96%. The resistance levels for the yield are 1.97%, 2.04%, 2.11%, 2.18%, 2.25%, 2.33%, 2.41%, 2.49%, 2.57%, 2.65%, 2.73%, 2.81%, 2.89%, 2.98%, 3.07%, 3.16%, 3.25%, 3.34%, 3.43%, 3.52%, 3.61%, 3.71% 3.81%, 3.91%, and 4.01%. The support levels for the yield are 1.90%, 1.83%, 1.76%, 1.69%, 1.63%, 1.57%, 1.51%, 1.45%, and 1.39%.
The mind cannot foresee its own advance.
Friedrich von Hayek
Welcome back traders. I hope you all had a wonderful holiday. It is now time to get back to the markets and make this a great 2012. This will be a volatile trading year with the major headwinds coming in the first of the year. There will be rallies as well as major declines. If you are a long term trader and looking for a longer time buying opportunity that should not occur until later in the year. If you are a swing trader this market should present both long and short opportunities into the late summer. The first six to months of 2012 will ultimately have more of a downside bias to it so please remain nimble. Those of you that have taken the InTheMoneyStocks Methodology Webinar should have a pretty good idea of my 2012 forecast. Last years forecast was pretty much as accurate as I have been. It was a great trading year and we certainly look to repeat that performance.
At this time, the SPY looks as if it could trade up to the $130.00 area. There should be very big resistance around this level if the SPY gets up there with pulling back. Should the SPY pullback before reaching that level then we may have to adjust that resistance number. Today's rally was lead by the financial stocks and the commodity stocks. Both of these sectors should not have all that much upside left in the tank. JPM reached my max move level at $35.00 a share this afternoon. The stock may hold up in this light volume holiday shortened trading week as it remains the strongest financial out there. Many market leaders rolled over today, stocks such as MCD, SBUX, TJX, and SNDK all had poor intra-day action. This tells me that this market is only in rally mode because of the light volume holiday and the rally is obviously on borrowed time. I'm already starting to eye some stocks to sell short. I will post everything that I'm seeing on the hot charts. January is always a very tricky month and we must try and time this market correctly. Tonight, I will post some max move calculations for the U.S. Dollar Index and the TLT. These two equities seem to be very good for market timing.
The master resistance levels for the S&P 500 Index are 1280, 1299, 1316, 1335, 1352, and 1371. The master support levels for the S&P 500 Index are 1263, 1244, 1226, 1209, 1192, 1175, 1158, 1141, 1121, 1107, 1090, 1074, 1058, 1041, and 1026.
February crude finished the session higher by $4.13 to $102.96 per barrel. The master resistance levels for crude are 105.00, 109.00, 115.00, 119.00, and 125.00. The master support levels for crude are 100.00, 95.00, 89.00, 84.00, 79.00, 74.00, 69.50, and 66.00. Please remember oil is very sensitive to adverse weather, geopolitical events, and the U.S. Dollar.
February gold finished the session higher by $33.60 to close at $1600.50 an ounce. The master resistance levels for gold are 1617, 1634, 1657, 1674, 1698, 1716, 1740, 1758, 1782, 1800, 1825, 1842, 1867, 1886, 1911, 1930, 1955, 1974, and 1999. The master support levels for gold are 1594, 1577, 1554, 1537, 1515, 1498, 1477, 1460, 1439, 1422, and 1400.
The 10 year bond yield finished the session higher by 0.089 to close at 1.96%. The resistance levels for the yield are 1.97%, 2.04%, 2.11%, 2.18%, 2.25%, 2.33%, 2.41%, 2.49%, 2.57%, 2.65%, 2.73%, 2.81%, 2.89%, 2.98%, 3.07%, 3.16%, 3.25%, 3.34%, 3.43%, 3.52%, 3.61%, 3.71% 3.81%, 3.91%, and 4.01%. The support levels for the yield are 1.90%, 1.83%, 1.76%, 1.69%, 1.63%, 1.57%, 1.51%, 1.45%, and 1.39%.
| NYSE | NASDAQ | |
|---|---|---|
| Advancing Issues | 2,410 (76%) | 1,911 (71%) |
| Declining Issues | 724 (23%) | 706 (26%) |
| Unchanged Issues | 52 (2%) | 61 (2%) |
| Total Issues | 3,186 | 2,678 |
| New Highs | 208 | 77 |
| New Lows | 7 | 32 |
| Up Volume | 2,993,522,614 (81%) | 1,274,307,644 (81%) |
| Down Volume | 684,068,502 (18%) | 278,458,096 (18%) |
| Unchanged Volume | 39,907,758 (1%) | 13,723,110 (1%) |
| Total Volume | 3,717,498,874 | 1,566,488,850 |
| Symbol | Closing Price | Change | Volume |
|---|---|---|---|
| (BAC) Bank of America Corp | $5.81 | +$0.25 (4.41%) | 233,442,320 |
| (MSFT) Microsoft Corporation | $26.76 | +$0.81 (3.10%) | 63,823,776 |
| (C) Citigroup, Inc. | $28.33 | +$2.02 (7.68%) | 57,243,656 |
| Symbol | Closing Price | Change | Volume |
|---|---|---|---|
| (VRML) Vermillion, Inc. | $1.45 | +$0.28 (23.93%) | 257,497 |
| (AONE) A123 Systems, Inc. | $1.96 | +$0.35 (21.74%) | 4,018,951 |
| (USLV) VelocityShares 3x Long | $33.36 | +$5.90 (21.49%) | 361,533 |
| Symbol | Closing Price | Change | Volume |
|---|---|---|---|
| (DSLV) VelocityShares 3x Inverse | $48.48 | -$12.64 (20.68%) | 112,847 |
| (ORCT) Orckit Communications | $0.81 | -$0.20 (19.80%) | 216,839 |
| (AVEO) AVEO Pharmaceuticals | $13.83 | -$3.37 (19.59%) | 3,221,661 |
2012 On The Horizon
I'm a great believer in luck., I find the harder I work the more I have of it.
Thomas Jefferson
My vacation is nearing it's end. While it was nice to finally have a week off to spend with the family I'm itching to get back to work. I hope you all have a wonderful New Year holiday. Let us all be grateful for the past year and get ready to have another fantastic trading year in 2012.
The master support levels for the S&P 500 Index are 1244, 1226, 1209, 1192, 1175, 1158, 1141, 1121, 1107, 1090, 1074, 1058, 1041, and 1026. The master resistance levels for the S&P 500 Index are 1263, 1280, 1299, 1316, 1335, 1352, and 1371.
February crude finished the session lower by $0.82 to $98.83 per barrel. The master support levels for crude are 95.00, 89.00, 84.00, 79.00, 74.00, 69.50, and 66.00. The master resistance levels for crude are 100.00, 105.00, 109.00, 115.00, 119.00, and 125.00. Please remember oil is very sensitive to adverse weather, geopolitical events, and the U.S. Dollar.
February gold finished the session higher by $25.90 to close at $1566.80 an ounce. The master resistance levels for gold are 1577, 1594, 1617, 1634, 1657, 1674, 1698, 1716, 1740, 1758, 1782, 1800, 1825, 1842, 1867, 1886, 1911, 1930, 1955, 1974, and 1999. The master support levels for gold are 1554, 1537, 1515, 1498, 1477, 1460, 1439, 1422, and 1400.
The 10 year bond yield finished the session lower by 0.026 to close at 1.871%. The support levels for the yield are 1.83%, 1.76%, 1.69%, 1.63%, 1.57%, 1.51%, 1.45%, and 1.39%. The resistance levels for the yield are 1.90%, 1.97%, 2.04%, 2.11%, 2.18%, 2.25%, 2.33%, 2.41%, 2.49%, 2.57%, 2.65%, 2.73%, 2.81%, 2.89%, 2.98%, 3.07%, 3.16%, 3.25%, 3.34%, 3.43%, 3.52%, 3.61%, 3.71% 3.81%, 3.91%, and 4.01%.
I'm a great believer in luck., I find the harder I work the more I have of it.
Thomas Jefferson
My vacation is nearing it's end. While it was nice to finally have a week off to spend with the family I'm itching to get back to work. I hope you all have a wonderful New Year holiday. Let us all be grateful for the past year and get ready to have another fantastic trading year in 2012.
The master support levels for the S&P 500 Index are 1244, 1226, 1209, 1192, 1175, 1158, 1141, 1121, 1107, 1090, 1074, 1058, 1041, and 1026. The master resistance levels for the S&P 500 Index are 1263, 1280, 1299, 1316, 1335, 1352, and 1371.
February crude finished the session lower by $0.82 to $98.83 per barrel. The master support levels for crude are 95.00, 89.00, 84.00, 79.00, 74.00, 69.50, and 66.00. The master resistance levels for crude are 100.00, 105.00, 109.00, 115.00, 119.00, and 125.00. Please remember oil is very sensitive to adverse weather, geopolitical events, and the U.S. Dollar.
February gold finished the session higher by $25.90 to close at $1566.80 an ounce. The master resistance levels for gold are 1577, 1594, 1617, 1634, 1657, 1674, 1698, 1716, 1740, 1758, 1782, 1800, 1825, 1842, 1867, 1886, 1911, 1930, 1955, 1974, and 1999. The master support levels for gold are 1554, 1537, 1515, 1498, 1477, 1460, 1439, 1422, and 1400.
The 10 year bond yield finished the session lower by 0.026 to close at 1.871%. The support levels for the yield are 1.83%, 1.76%, 1.69%, 1.63%, 1.57%, 1.51%, 1.45%, and 1.39%. The resistance levels for the yield are 1.90%, 1.97%, 2.04%, 2.11%, 2.18%, 2.25%, 2.33%, 2.41%, 2.49%, 2.57%, 2.65%, 2.73%, 2.81%, 2.89%, 2.98%, 3.07%, 3.16%, 3.25%, 3.34%, 3.43%, 3.52%, 3.61%, 3.71% 3.81%, 3.91%, and 4.01%.
| NYSE | NASDAQ | |
|---|---|---|
| Advancing Issues | 1,461 (46%) | 1,177 (43%) |
| Declining Issues | 1,599 (50%) | 1,408 (52%) |
| Unchanged Issues | 108 (3%) | 127 (5%) |
| Total Issues | 3,168 | 2,712 |
| New Highs | 163 | 33 |
| New Lows | 17 | 58 |
| Up Volume | 1,014,823,847 (46%) | 382,752,232 (38%) |
| Down Volume | 1,170,765,541 (53%) | 578,551,167 (57%) |
| Unchanged Volume | 42,844,985 (2%) | 57,686,040 (6%) |
| Total Volume | 2,228,434,373 | 1,018,989,439 |
| Symbol | Closing Price | Change | Volume |
|---|---|---|---|
| (BAC) Bank of America | $5.56 | +$0.10 (1.83%) | 175,712,297 |
| (CPWR) Compuware Corp | $8.32 | -$0.14 (1.65%) | 40,493,237 |
| (GE) General Electric | $17.91 | -$0.16 (0.89%) | 31,102,724 |
| Symbol | Closing Price | Change | Volume |
|---|---|---|---|
| (MOSY) MoSys, Inc | $4.20 | +$1.23 (41.41%) | 2,060,074 |
| (NEPT) Neptune Technologies | $2.92 | +$0.64 (28.07%) | 143,068 |
| (BKBK) Britton & Koontz Capital | $7.50 | +$1.48 (24.63%) | 126,105 |
| Symbol | Closing Price | Change | Volume |
|---|---|---|---|
| (PTEK) PokerTek, Inc. | $0.95 | -$0.14 (12.84%) | 134,343 |
| (DCTH) Delcath Systems | $3.05 | -$0.41 (11.85%) | 1,570,112 |
| (SSN) Samson Oil & Gas | $1.95 | -$0.24 (10.96%) | 2,041,630 |
Tomorrow Is The Final Trading Session Of 2011
Investors operate with limited funds and limited intelligence, they don't need to know everything. As long as they understand something better than others, they have an edge.
George Soros
I will be on vacation this week, therefore, only the master numbers will be updated. If I see anything of importance I will post it via the Hot Charts or in the Daily Market Report.
The master resistance levels for the S&P 500 Index are 1263, 1280, 1299, 1316, 1335, 1352, and 1371. The master support levels for the S&P 500 Index are 1244, 1226, 1209, 1192, 1175, 1158, 1141, 1121, 1107, 1090, 1074, 1058, 1041, and 1026.
February crude finished the session higher by $0.29 to $99.65 per barrel. The master resistance levels for crude are 100.00, 105.00, 109.00, 115.00, 119.00, and 125.00. The master support levels for crude are 95.00, 89.00, 84.00, 79.00, 74.00, 69.50, and 66.00. Please remember oil is very sensitive to adverse weather, geopolitical events, and the U.S. Dollar.
February gold finished the session lower by $23.20 to close at $1540.90 an ounce. The master support levels for gold are 1537, 1515, 1498, 1477, 1460, 1439, 1422, and 1400. The master resistance levels for gold are 1554, 1577, 1594, 1617, 1634, 1657, 1674, 1698, 1716, 1740, 1758, 1782, 1800, 1825, 1842, 1867, 1886, 1911, 1930, 1955, 1974, and 1999.
The 10 year bond yield finished the session lower by 0.011 to close at 1.897%. The support levels for the yield are 1.83%, 1.76%, 1.69%, 1.63%, 1.57%, 1.51%, 1.45%, and 1.39%. The resistance levels for the yield are 1.90%, 1.97%, 2.04%, 2.11%, 2.18%, 2.25%, 2.33%, 2.41%, 2.49%, 2.57%, 2.65%, 2.73%, 2.81%, 2.89%, 2.98%, 3.07%, 3.16%, 3.25%, 3.34%, 3.43%, 3.52%, 3.61%, 3.71% 3.81%, 3.91%, and 4.01%.
Investors operate with limited funds and limited intelligence, they don't need to know everything. As long as they understand something better than others, they have an edge.
George Soros
I will be on vacation this week, therefore, only the master numbers will be updated. If I see anything of importance I will post it via the Hot Charts or in the Daily Market Report.
The master resistance levels for the S&P 500 Index are 1263, 1280, 1299, 1316, 1335, 1352, and 1371. The master support levels for the S&P 500 Index are 1244, 1226, 1209, 1192, 1175, 1158, 1141, 1121, 1107, 1090, 1074, 1058, 1041, and 1026.
February crude finished the session higher by $0.29 to $99.65 per barrel. The master resistance levels for crude are 100.00, 105.00, 109.00, 115.00, 119.00, and 125.00. The master support levels for crude are 95.00, 89.00, 84.00, 79.00, 74.00, 69.50, and 66.00. Please remember oil is very sensitive to adverse weather, geopolitical events, and the U.S. Dollar.
February gold finished the session lower by $23.20 to close at $1540.90 an ounce. The master support levels for gold are 1537, 1515, 1498, 1477, 1460, 1439, 1422, and 1400. The master resistance levels for gold are 1554, 1577, 1594, 1617, 1634, 1657, 1674, 1698, 1716, 1740, 1758, 1782, 1800, 1825, 1842, 1867, 1886, 1911, 1930, 1955, 1974, and 1999.
The 10 year bond yield finished the session lower by 0.011 to close at 1.897%. The support levels for the yield are 1.83%, 1.76%, 1.69%, 1.63%, 1.57%, 1.51%, 1.45%, and 1.39%. The resistance levels for the yield are 1.90%, 1.97%, 2.04%, 2.11%, 2.18%, 2.25%, 2.33%, 2.41%, 2.49%, 2.57%, 2.65%, 2.73%, 2.81%, 2.89%, 2.98%, 3.07%, 3.16%, 3.25%, 3.34%, 3.43%, 3.52%, 3.61%, 3.71% 3.81%, 3.91%, and 4.01%.
| NYSE | NASDAQ | |
|---|---|---|
| Advancing Issues | 2,430 (77%) | 1,886 (70%) |
| Declining Issues | 651 (21%) | 722 (27%) |
| Unchanged Issues | 92 (3%) | 95 (4%) |
| Total Issues | 3,173 | 2,703 |
| New Highs | 121 | 34 |
| New Lows | 29 | 72 |
| Up Volume | 2,038,199,180 (90%) | 864,654,933 (83%) |
| Down Volume | 198,518,276 (9%) | 161,313,432 (16%) |
| Unchanged Volume | 16,964,390 (1%) | 12,746,380 (1%) |
| Total Volume | 2,253,681,846 | 1,038,714,745 |
| Symbol | Closing Price | Change | Volume |
|---|---|---|---|
| (BAC) Bank of America | $5.46 | +$0.18 (3.31%) | 166,366,500 |
| (GE) General Electric | $18.07 | +$0.24 (1.35%) | 41,010,972 |
| (F) Ford Motor Company | $10.68 | +$0.16 (1.52%) | 34,280,850 |
| Symbol | Closing Price | Change | Volume |
|---|---|---|---|
| (LIVE) LiveDeal, Inc. | $4.38 | +$1.32 (43.14%) | 294,796 |
| (NSSC) NAPCO Security Technologies | $2.51 | +$0.40 (18.96%) | 415,887 |
| (CRME) Cardiome Pharma Corp | $2.61 | +$0.38 (17.04%) | 1,192,505 |
| Symbol | Closing Price | Change | Volume |
|---|---|---|---|
| (CYAN) Cyanotech Corp | $7.62 | -$1.28 (14.37%) | 132,400 |
| (PTEK) PokerTek, Inc | $1.09 | -$0.16 (12.80%) | 303,629 |
| (CSKI) China Sky One Medical | $1.02 | +$0.11 (9.97%) | 341,221 |
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