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Loading ...The Fly and the other tabbed bloggers @ iBC have done it again, making the first ever iBC Report.  If I were you, I would click on the link seen below and read the report front to cover, for it saved me about an hour of my time to rant and rave about some market items that have been on my mind lately (specifically, ChartAddict’s ”Using Stock Market Indices” and Gio’s ”VIX You Up”).
http://www.ibankcoin.com/flyblog/index.php/2009/05/25/behold-ibc-report-volume-1/  —–  Thanks guys!
On to the first matter of business tonight.  As I said I would, I’ve put together some daily charts on SMN, DUG, andUYM.
I am tracking UYM with the RSI-FS%K Trading Guidance System  aka “Daddy Moose” to begin taking notes and analyzing the accuracy of the system itself.  With summer approaching and more time to trade freeing up, I have come to the conclusion that I want to fine-tune “Daddy Moose” and use it as an automated trading system when I am away in Spain towards the end of June (yes, I will be taking a two week vacation to Spain).  Without further ado, let’s take a look @ the UYM chart:
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UYM  20 Day, 60 Minute
SMN and DUG are a different story.  I pieced together the skewed price action as best as I possibly could and came up with some interesting outcomes:
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SMN  1 Year, Daily
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DUG  1 Year, Daily
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DUG  3 Month, Daily
Seeing the price action of both of these important 3x iETFs, I have realized that one of two things could happen this week:
- Resistance in DUG is held and the channel trend prevails in SMN, both iETFs dropping due to a buildup in volume distribution.
- Volume accumulation finally breaks above what it needs to be in both SMN and DUG, with SMN breaking out of its channel (target price @ $22.50) and DUG breaking out above its $20.52 resistance level (target price based on crude oil price correlation in relation to DUG’s price action).
Tomorrow night, I’ll be doing a comparative analysis on SMN’s percentage change relationship with the Philadelphia Gold and Silver Index ($XAU) and DUG’s percentage change relationship with Crude Oil through the Dow-Jones AIGCrude Oil Sub-Index ($DJAIGCL).  The relationship will obviously be an inverse correlation, but I feel that seeing the charts side-by-side will help you and me, the traders, spot the major inflection points within the oil industry and the basic materials sector.  In my opinion, I feel you may begin to see #1 from the above “things that could happen” list.
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The Swinger’s Watch Lists
After slaving over multiple charts late at night this weekend and running through multiple customized stock screens I ran using Stock Hacker on the thinkorswim Trading Desktop, I was finally able to put together two (2) legit lists of possible swing trades that could explode this week or be bought on a dip.  Keep your eyes on the following:
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Watch List #1  (Stock Hacker)
- AMAT
- ARTC
- ATMI
- ATPG
- BEXP
- BJS
- CCC
- CMCO
- CPSL
- CPX
- CRUS
- DELL
- EGY
- ELMG
- EXAC
- EXTR
- GBX
- GPOR
- HL
- NGS
- SFY
- SWC
- SWSI
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Watch List #2  (Swinger)
- ACET
- ARM
- AUTH
- BTE
- CYNO  (Currently Own)
- DHT
- EEE
- ENER  (Investment – Brother’s Portfolio)
- FCS
- FTO
- GT
- GTE
- ICO
- IO
- JASO
- MEA
- NG
- NWY
- OCNF
- PDO
- PDS
- PZG
- SD
- SOL
- SSW
- STP
Tomorrow, I will be taking five (5) tickers from each watch list (a Top 2/3 and Bottom 2/3 based off of percentage performance) and creating charts for each ticker.  These small cap tickers are interesting, for over the past week, I’ve made more money in small caps than I have throughout my entire career (however short it may be) as a trader than I have with large caps.  Now of course, I was not trading during the crazy times from the Tech Bubble bottom to 2007, but these little companies can go a very long way for traders.
I will also be putting up my Investment Spotter Watch List, which is full of ridiculously cheap stocks that could end up getting back to their Pre-Recession price in the next two to three years, depending on how the rest of the recession plays out.  In other words, these stocks could easily double, triple, or even quadruple to get back to their old prices, and that to me is a large investment opportunity. ÂÂ
As for now, I am off to catch some zzzz’s.  Sleep tight all, and good luck tomorrow!
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ZMoose
