First, let's get the Super Bowl out of the way. Since I'm from New England I guess you all know who I'll be rooting for. But I also have to say that I'm a HUGE fan of the Giants. Not this year's Giants... the Giants of years gone by. The Giants of Tarkington, Larry Czonka, Phil Simms, Joe Morris and coach Bill Parcells AND (bite your tongue) Defensive Coordinator Bill Belichek. Back in the "good old days" the gang would gather on a Sunday afternoon for Giants football. It was tradition (to this day, I don't know why) to cook roast pork for dinner and have copious amounts of beer in the fridge. Boy we knew how to celebrate. Well, this year, for this Super Bowl, there will be another roast pork in the oven. But instead of cold beer I'll be sipping some Single Malt before dinner and enjoying a fine white wine with the meal. Yes, I guess I'm all grown up now!
And now, on to more serious business. January is done and was profitable and successful for most traders that I know. Now we have to move on and try to repeat the successes that we enjoyed and so richly deserved. Friday was a great day for all of those out there, myself included, who have been patiently waiting to exhale. The jobs report was better than expected and gave the markets a giant boost. I used the strength to take some profits on the stocks I was holding and am now in 95% cash. I'll be revisiting some of the stocks I sold; $BKD $BWS $LUV and $SATS. I've been reviewing other charts looking for setups and, to no one's surprise, I've found quite a few. I've included some but not all here for your review. The next few setups are all on my watch for the week. The market, as always, will dictate timing.
$ANR Nice break out of triangle. Good volume; MACD/RSI confirming. Resistance at 25, 28 then 35.
$BID Price moved up to resistance and bottom of August gap on 1.7x volume. MACD/RSI rising. Next break above resistance goes to 43.
$SFLY This stock was in everyone's dumpster until their stellar earnings release. Volume coming in; MACD/RSI confirm. MA crossover. Resistance at 32, 37 then could see 45.
$SEE Break on volume. Slight pause/consolidation. Not much in the way until 24. No position but watching closely.
That's it for this batch my friends. I'll being putting more charts on StockTwits/Twitter as I see them.
Gotta run. Pork has to start cooking or we'll have to drink the wine by itself. That would be a shame.
Good trading this week. See you all in the AM.
GO PATS!!!!
