Uncertainties Caused a Round of Profit Taking Last Week … What Will Happen This Week?

What a week last week was!

I was really concerned when the Middle East dominated the news, the profit taking began and I wondered where the market might end up. Those concerns seems to have settled down, so we can now watch and see if the uptrend resumes...Why Not?

My interpretation of Copernicus Systems is to be long in the Market. I continue to see a lot of stocks of interest. Some of these still look a little paused, but I will look further at: CTXS, NTES, and DD.  CVX keeps popping up and looks good to me, but I already have that in my dividend portfolio....would it be silly to also own it for a trade?

IBD has understandably changed their Market Outlook to "Uptrend Under Pressure"

Last week was a little wake-up call about the need to be prudent, so I will be in a "protect capital mode" for the near term and may not make any purchases

My "Stocks for a Trade" now consists of:

KLAC up 6.3 %

CMG  up .51 % Looking a Little battered after last week

EMC up 9.04 % Held up fairly well

AAPL   up 9.83 %....actually seemed to find its footing last week


The leveraged ETF's for a trade:

BGU  up 3.35 %

AGQ  up 3.34 %  This is a leveraged silver ETF. It was added during a time of concern (panic) but I will let the sell rules take it from here

For normal ETF's, I still have both  OIH and XLE. (oil ETF's),  which of course are doing fine and  XLF which held on.

FAS was sold last week when it fell out of the bottom of the box (I do have losses)

SOXL was sold on Monday but due to it going out of the top of the box...a little late but still picked up a 14.2 % gain. It had been up over 20% so I held on to this one too long. This is an interesting ETF, I see it is already moving up again...Hmm

Have a great week week!

A couple of Nicolaus Darvas quotes about stocks are posted this week

Midweek Addendum Tuesday February 22

I sure did not like to see this drop today, but in one way of thinking it was just an overdue correction that was finally sparked by Libyan leader Moammar Gadhafi clinging to power in spite of the protests and unfortunately this erupting in violence against the protesters. It is hard to see this lasting too long but likely the nimble traders decided to protect their profits with some selling. I am not a nimble trader by any means. I did have a couple of ETF's set up to sell at the market open this morning. I was not happy with the opening price but by the end of the day the prices were much lower.

What will happen tomorrow, could be more of the same, could be a recovery as traders try to pick up some of the low prices of today. I sure don’t know, but we will know soon enough and logically in time the Market will continue its move upward

Trying to find some good news the Dow was at least going the right direction by the end of the day

http://finance.yahoo.com/q/bc?s=^DJI+Basic+Chart&t=1d
 

Nicolas Darvas was a world famous dancer years ago that built a fortune in the Market ...starting with very little capital and executing trades while he traveled via telegraph. A couple of quotes are:

1. I  must not fall in love with stocks when they rise, I must not get angry when they fall

2. Keep rigidly to the investing rules you carve out for yourself 

The quotes are not verbatim, but they are helpful reminders..at least for me

 

The Market continues to shrug off the Middle East unrest...other than Oil Still Rules, perhaps this is a result of the unrest

Copernicus Systems continues to be clear about being to be long in the Market for again another week.I again saw many stock of interest until I looked closely at the charts which seem to be a little paused. Some that will be investigated further are:

BMC 

JNPR

DD

IBD continues to seem to agree citing "Market in Confirmed Uptrend"

My "Stocks for a Trade" are:

KLAC up 8.34 %

CMG  up 5.28 %

EMC up 10.17 %

AAPL   up 10.59%....I am getting a little worried about its recent direction but hopefully it will resume its upward trend soon

The highly leveraged ETF's for a trade:

BGU  up 3.35%

FAS up 1.75%

SOXL up 20.77 %   ....Guess I need to follow the rules on this one ...at least take some off the table

For normal ETF's, (Exchange Traded Funds), I still have both  OIH and XLE. and  XLF these continue to look fine.


I was able to do some work on Dividend Stocks, hope to post the early results soon. I really need to do some portfolio reorganization and clean up....it is a mess. The blog is helping me make better investments (or the rising tide  is just lifting all ships) now I just need to manage things better


Markets closed tomorrow in honor of President's Day. Hope you have a great week

Still looking up...perhaps even better.

The markets continue to perform well. I try not to make forward looking predictions but if this continues......   

My interpretation of the Copernicus Systems continues to be clear signals to be long in the Markets and I once again saw many stocks of interest (too many to list for now and I'm not sure if I can pick any additional up at this time).  IBD continues to seem to agree citing "Market in Confirmed Uptrend"

I incorrectly reported my "stocks for a trade last week" as I had earlier sold off MON and ARBA.

During the week and I did sell  IPand  JPM and picked up KLAC, but also CMG which had caught my eye and I did not mention last week

So that left me with:    KLAC, CMG   EMC,  and good old  AAPL by the end of the week


All are doing well, some up rapidly thus far:

KLAC up 1.91 %

CMG  up an amazing 8.75%

EMC up 9.61 %

AAPL  my longest term holding of the group by far up 12.57%

For ETF's, (Exchange Traded Funds), I still have both  OIH and XLE. along with  XLF and SOXL .. these all look fine for now.

I am considering taking some small positions in  some 3X leveraged ETF's: FAS which is Financial Services and BGU  which is magnifies the Russell 1000 which is large cap stocks. These are very risky but these are two areas that have shown life and could continue to do so.

That's all for tonight

Things are looking up...but remember know one really know the future of the Markets

This week on Tuesday  we saw a really nice gain and Friday a modest gain. I really like this because in spite of the unknowns, (which the Markets hates) the market was propelled higher. Likely this was due to good earnings this week by various companies.

I must confess I did not follow the Markets or business news much this week due to a lack of power at home which left me with hand crank radio for the local news

My interpretation of the Copernicus Systems is that we are now getting clear signals to be long in the Markets and I saw many stocks of interest.

IBD also seems to agree citing "  Market in Confirmed Uptrend" 

I am now left with six stocks for a trade:  MON,  IP,  JPM,  EMC,  ARBA and  AAPL.

ARBA is doing very well, APPL and EMC are doing  fine, IP is okay and I have a modest loss in JPM.

The stocks I saw today of interest were: SOHU, KLAC, SANM, BIDU, EBAY, EXTR and OTEX

I may swap out of the IP and JPM in favor of perhaps KLAC, SANM or SOHU, will decide later

For ETF's, (Exchange Traded Funds), I still have both  OIH and XLE. along with  XLF and SOXL .. these all look fine for now



Well that is a brief review for today , Hope your team wins tonight

Wednesday Addendum:

I did sell IP  and  JPM

Now buying KLAC and CMG