Sunday, April 22, 2012

“Feeling” less cautious, but still cautious.

I’m not sure what to make of drops in Apple and Priceline. 

Is Apple beginning to cycle or channel? It’s hard to see it actually dropping with such great products and profits and a future that looks bright. Box Theory will still give it some room but further drops will command a sell. 

What is Priceline doing? Is it falling in sympathy to Apple? It will have plenty of room to run. 

Ruger is doing just the opposite. Is it a contrarian? It is one of the few I would consider buying more of, but buying now would be doing so against the IBD indicator

So what did I see in my weekend review?

The 10-yr Treasury yield is now at 1.97%

IBD (Investor Business Daily) now drops to: Market In Correction!

Copernicus Systems is still showing to be long in the market (but not 100% in all systems), Money Flows are still down in 3/3 portfolios, but there is a slight divergence with one portfolio rising in price

IBD 50 Top Five: LQDT, GNC, SXCI, AAPL, ALXN.   Some migration taking place here with LQDT jumping in and to the top , SXCI jumping in and RGR and PCLN being pushed out of the top five. Both of these new entries are interesting.

What will I do?

I would like to buy more RGR, but I took a larger position than normal for my first entry so perhaps I will stand pat for now rather than trying to swim against the tide.
Currently my "Stocks for a Trade" now consists of:
(All gains or losses shown are the total since purchase)

AAPL  (4) buys for +30.24% so (2) in the bank and in the box .24 …wonder where this is going? Tentatively I will let it drop 8% below this box and then it will be saying it’s time to go
RGR  +7.63%, nice rebound…should I buy more?
PCLN +21.23%, dropping, but still (1) in the bank and in the box 5.23

ETF’s for a trade are:

GLD (3) buys for -3.20%
IBB   (2) buys for +3.53%, nice rebound this week
EWY -1.53% still watching, but will give it some room…why not it’s Korea

I hope you have a great week.

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