UFO Identified

The UFO's were the stocks in the DOW an NASDAQ. YIKES!

I wish

I wish I had been more bullish, entered some trade triggers for the holdings.

UFO - Unidentified flying object - Big UFO

Location unknown... http://vatesnews.blogspot.com/ Trading foreign markets may take special skills.

Intraday trades

I'm leaving a hour early today and very early on Friday. At this time it appears the bulls are still very active there were a ton of good intraday trades to be found, I'm not building any large positions due to my time away.

IYR, short
QID, hedge w/small position
DIVX, tiny position

Moving slowly

Just jumped back in the QID with small position more like a hedge.

IYR, still short.

QID

Removed a dollar and 4 cents out of the QID.

DIVX

started a tiny position in DIVX @21.88, and put a buy limit order down at 21.25 for more.


The problem with small positions as in QID even with the move this morning there was not enough profit to warrant a sale.

IYR

Added a small bite more of IYR on the short side.

Market

Lower volume is taking this market higher, there may be a bit more upside especially if earnings are generally positive.

IYR, short a small position, i have a few ways to play this holding.

QID, started a small position in this today, i will bail if market starts to rally.

I didn't see a lot of good setups in stocks today, i think the best policy here is to wait for a market move on good volume before building positions.

INTC

Just sold my INTC, i will keep an eye on it though for possible re-entry.

Looking for new setup to jump back in DIVX.

The market may be ready to take a small break.

DIVX

DIVX up big over 2.50 in afterhours trading, positive earnings guidance.

IYR

The IYR will either break through to the upside through it's downtrend line or fail, i'm guessing it will fail within the next few days. short IYR

Action

There is quite a bit of action this morning, however i am waiting for a bit more confirmation of overall market direction.