Sunday, June 30, 2013

What’s Next?

What’s Next? ....I am guessing the bull market resumes shortly, but this is a guess tainted by optimism.

IBD headline notes: “Michael Kors Up, Dollar Tree Down As Luxury Dominates”.
Perhaps the market trend will be seen in the XLY, the Consumer Discretionary Select Sector. It has had an uptrend in place since June 24, but will it continue this time? A price above 57 and on toward 58 may not point to consumer confidence in general, but it has been steadily rising since May 2009 but I suspect when it finally gets through 58 the market will be in strong rally mode.

The mighty Nordstrom, JWN has also been outperforming the market since May 2009 and seems to be ready to get back to doing so.

I’m not sure how it is related but Shares of Noodles & Co. soared on the first day of its initial public offering Friday and it’s good to see an IPO ripping higher.

What did I see in my weekend review?

The 10-yr Treasury yield is at 2.48%

IBD (Investor Business Daily): Market in Correction.

Copernicus Systems: Short

Moneys Flows:  All three still pointed own…all still in positive territory, but one is still near zero.

Currently my "Stocks for a Trade" now consists of:


AGNC: Sold at a loss, could have lessened this with a little more courage, but knowledge was gained.

ETF’s for a trade are:

QQQ -3.56% 

XLF -1.96% 

IBB -.82% my best turnaround may be in biotech.

SPY -1.96%

What will I do?

I am still in the red on everything for a trade, but a little less so this week. I am ready for some of these to become good trades and profits to be taken, just need to continue patience.

XLY and PCLN deserve a closer look, time for both to run…but I will wait.

I hope you have a great week.

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