Well well well

This markets ass must hurt from the beating I've been giving it...that didn't come out right...but Happy DOW 10K day!

I really hated not getting an update out yesterday...but the blog has to take a back seat during times like this...it's like I've been saying since the very first post...this is a buy the dip super bull market. Even Cramer and the people off fast money are probably doing ok. (Execpt the one jackass that continues to be short, don't really know how he still has any money but whatever)Throw a dart...everything is doing ok.

On a side note...if you look back at my rants from a couple weeks ago...you'll see my target of 1093 on the SPX was nailed on the f#$%ing dot today. I think the high for the day was 1093.17. It's amazing how support and resistance work isn't it. All you fundimental intelliletuals that call the market "a random walk"...eat my blog.

(Side, sidenote...I think we do crack 1093 tomorrow)

If we all look back and remember, mister Intel was what really kicked off this last leg up from 850 on the S&P. Everything in this market is still set to go higher, even though we have a 10% unemployment rate. The golden boy of Wall St. Goldman Sachs (pun intended) is reporting tomorrow morning, I expect nothing more then for them to blow it out. I'm loaded with calls on Goldman so I am a bit baised, but Goldman isn't going to let this market down...it's been the strongest stock in the market since July, and if they get beat down at all from earnings I'll be loading the boat. But I fully expect them at 200 or higher by weeks end. So goes Goldman, so goes the market...simple as that.

A little update on what im holding/got rid of...
Holding:
AMZN from 94...110 target
NCS from 2.77...4 target
RIMM from 65...80 target
UNH from 24.20...27 target
VZ from 28.90...31 target
WYNN from 66....70 target
XOM from 65.50...target hit probably takin if off tomorrow
C from 4.32...sold out today at 4.88
Sold INTC and CSCO at the open today
PALM is my only short at 17...probably gonna take it off tomrrow too
Holding too much Goldman probably...but I've got a nice core at 182 so Ive got some wiggle room
Also got back in one of my favorite stocks...SPG at 69...love the builders going forward.


I'm gonna try and get some charts out in the AM...I really like State Street (STT) to break out tomorrow too.

Update

WYNN, just broke out! Long at 70.15 big shares...lookin for .50

I know....

I know it's been a week from the last update and for that I'm sorry. I've been trading my tail off the past couple days and have taken the markets out to the wood shed. I'm gonna get straight to it today...two very easy plays...almost guarenteed...Goldman Sachs is going to 200 before they report, mark it, buy the dips or grab some 200 or 210 calls. RIMM...I've been loading the boat these past couple days and have an average of 65.45, buy this thing, and dont touch it, turn the screens off til it goes back to 80, because it is. A setup I've been looking for the past days are breakout plays...and I found a couple good ones.

One of my favorite setups this week and going forward is NCS...this thing is primed and ready. Nothing I don't like about it, easy double...just have to keep an eye on it because it pops huge but retraces pretty quickly

http://www.freestockcharts.com?emailChartID=6f2df996-bb93-4036-8048-bf97c1252e88

Another one I like is BMO. This thing is a loaded spring...you can wait for the breakout at 52, or get it on the lower trendline at 48ish.

http://www.freestockcharts.com?emailChartID=c605b510-9007-4d65-badc-b64b33be1975

JBHT is also concolidating for a move higher....33.50 would be a breakout, 31.50 would be a good entry if you can get it there.

http://www.freestockcharts.com?emailChartID=937c248f-698c-4d63-bcdd-557d938b125b

Stocks I also still like, TXRH, HNZ, CAKE, FSS, PTR.

A couple shorts, I like DECK as a short anywhere around 85, WYNN around 75 (but if it breaks 75 cover and go long cus that will be a breakout. All the ag's have been pretty weak.

The thing I've been doing the past two weeks that have worked nicely is I'm net long (like 80%), then when I felt the market getting extended I'll take a ES short and just hold on to it to hedge myself.