Thursday, January 7, 2010
ACCESSIBLE TERRAIN
ROTATION IS THE WORD
It is obvious from my arsenal of stocks that rotation is the word right now. Not all sectors are moving in the same direction. Tech has been rolling over and the financials, the laggard for the last two months, has been on a firm upswing with the likes of GS, BAC, JPM, and MS leading the way. A few of my financial picks, one of which hit our profit target today, have been moving as well. I chose not to add any new plays today ahead of the jobs report tomorrow. You just never know what is in store ahead and behind such a potentially market moving event. There will be plenty of opportunities to trade. Patience is the key in any successful trading strategy, mine or yours. Let’s get tomorrow out of the way and then in my weekend report we will begin to focus on earnings season which will begin in earnest January 11 with AA.
THE MET TRADE
I highlighted MET as a “freebie” a few days back. Following is the previous chart with my recommendation along with todays chart. Not all trades are profitable but so far this one is. Take advantage when opportunity comes and you will never suffer from trader’s regret.
BATTLES WON (PROFIT TARGETS HIT): PRU
BATTLES LOST (LOSS TARGETS HIT): NONE
SURRENDERED: NFX
NO NEW ENTRIES TODAY.
