Monday: -$110
Cumulative Gains: $-260
I started with a new $2k account on 01/15/12; I will try to grow to $20k by end of tax season.
Market: I may have underestimated how bullish $SPY and was probably right when I said we are about to enter a very bullish period as the market squeezes shorts into new highs (thanks to perfect timing of the Fiscal Cliff deal and the January Effect). This is part of the reason why it has been increasingly difficult to short this week as I have been getting squeezed out of most of my aggressive shorts. The market has been sideways due to it consolidating, however it can breakout this week if not today. I will be bullish but appropriately bearish to over-extended spikes. I believe the market will explode soon if not very soon.
WATCHLIST
BOSC - supp at 4.76 upside to 6.2 or 7.7
NEWL - supp at 1.14, upside to 2 or back to 2.6
TELK - upside to 2.3 or back to 2.8 if it can pattern
CSIQ - is still testing 4.39 and trying to find supp. a morning spike with the market could send it to 4.9/5. vol is drying so a failed morning spike could panic
Most of these are down alot from their highs so expect them to rebound if the market spikes into new highs.
JVA (I am long 7.28 swing) - consolidated yesterday but Q4 earnings date is scheduled for 1/24 so it could breakout any day when it patterns properly with the market.
BOSC - supp at 4.76 upside to 6.2 or 7.7
NEWL - supp at 1.14, upside to 2 or back to 2.6
TELK - upside to 2.3 or back to 2.8 if it can pattern
BIOL - vol is dry. could morning panic under 2.82
SGMO - has a high short interest and could run for weeks but very over-extended and could collapse at any key res. may squeeze thru 8.74 to test 9.03. I will short it when it tops as it could lead to the first red day.
CBMX- is bottoming but is still patterning imo. i plan to bank $2-4k on this one when it patterns.
gl. peace
-ss23
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