Monday, January 06, 2014

Asset Allocations Continue. Wall Street Comes Back From Vacation This Week

A strange market indeed. January Second most stocks go down as a selected few groups go up. January Third, the Dow goes up, but the NASDAQ 100 goes down as more asset allocations occur. On Monday the bulk of vacationers come back to Wall Street, so volume will probably pick up and more allocations and new year jockeying will continue. It is still a time to play fast and small as things begin to sort themselves out.

Our stocks are off to a great start with solar stocks  like CSIQ and banks like BAC being the stars:

CSIQ  Although the solar stocks are running, CSIQ is the only major solar in new high territory. Up huge on the week. I intend to trade around a core position.







BAC  Maybe not the best bank - I leave that to WFC and JPM - but is easy to trade  in size under cover of huge volume and without the government demagogues trying to kill a great man like Jamie Diamond and JPM. I intend to buy on dips and trade around a core position


 
 
PLUG I dumped PLUG into Monday's strength. Other than January effect and day traders piling on, I don't see anything great yet. It may go higher, but I am skittish as the new year begins and want to grab my profits fast. But I will continue to monitor it.




Friday the Airlines joined the group strength party. The thesis being that industry consolidation and a la carte pricing are the catalysts. Can my most hated group in history really have the wind at it's back? Friday looked like the first day of the next leg up for the group.

DAL Popped one resistance level within the base and going for a breakout



JBLU Same basic premise as DAL




LUV Clean breakout





SAVE Looks like it's breaking out. Sell when they charge you extra to go to the bathroom.





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