Monday, December 27, 2010

Lowest volume YTD

Another flat day with volume at its lowest level year to date on SPY. As I said I don't expect too much action this week, the real action is going to take place after the New Year. 

Meantime I am enjoying my "quick kill" trading. I closed a very bullish one today, PIKE but I may re-enter soon since the momentum is fantastic. The reason I closed is because there is very good volume just ahead and it may come down from there. 

A stock I couldn't get today, also with a good momentum is HR. Maybe tomorrow!

I bought CSCO today. As you know this stock was "killed" just a few weeks ago but it looks like people are felling in love again with this stock. Daily DMI just turned positive. There is a huge gap between 24 and 21. I plan to close around 21. 

If you're not scared by the financial stocks, have a look at VPFG. Very nice momentum, both daily and weekly DMI are extremely positive. It has a lot of room to move up, at least to 12.3 where the SMA 200 is now but most likely to 13, the beginning of the gap. 

I am still holding CMN, very good stock in my opinion, and have an eye on ETM and VNDA for a possible re-entry.

Again, I am playing these stocks with little money since there is a good chance to wake up next morning and see that one of these stocks plunged big time over night. I am much more comfortable with ETFs but with this low volume I decided to take a break from them.

No comments:

Post a Comment

Thank you for your feed-back