Channel Breakout

UPDATE 1:04pm EST: We broke out of the channel I have been pimping all day. Got out of my Zero position with small profits but am not liking it. Thus I decided to ignore further signals for the remainder of the day as it’s expiration Friday and I don’t want to start blowing profits on whipsaws and slippage.

Anyway, I was looking at RTH and am liking what I see:

10 day ATR is around 2.5, but due to the trendline I’d set a top at 73.2.

Also like Toyota if it hits 67 again – would settle for 66.5. Yes, I’m talking puts.

UPDATE 1:39pm EST: Okay, here’s my long candidates roll call:

AA
ACL
AG
AMZN
AZO
BIDU
BUCY
CAT
CCJ
CF
CHK
CMG
CNQ
DE
EXPE
FAST
FSLR
GNK
HAL
ISRG
JOYG
LNN
MOS
NOV
POT
RGLD
RS
SHLD
TXT
XLU

I stole a few of those from Tim Knight – sue me 😉

Here’s the URL for the CSV file – you can import that as a watch list into Prophet charts:

http://www.screencast.com/t/BlbEIdaf

UPDATE 2:18pm EST: V for Whipsaw 😉

Having fun?

UPDATE CLOSING BELL: So, I post 30 long symbols and get what – like one response? Jeeeezzz…

One more comment – sorry I can’t resist: Does anyone remember me posting that Yen/ES futures correlation chart early this morning and saying that this is probably one big bear trap? 😉

Anyway, I’m outta here – don’t expect to hear from me until Monday late afternoon.