Finviz Scan for 12/01/10 - 1 Bull, 0 Bear

Hi All,

Notes: Market gapped up on open and went down in the 1st 30 mins, The new moon is coming. Market might beak and fall from here? I don't know. I'm still trying to collect data to trade using Lunar cycles.

All options chain in TOS has been reset thus the scans cannot be double check using open interest.

Feel free to comment or give suggestions to improve trading the setup.

Bulls Scan Results
AGN - 12/1/10: Harami hammer on SMA50. 1st pullback to TAZ. XLV 2nd Hottest sector in past 10 days. XLV relative strength breaking out. Entry $60.68, Stop Loss $59.99 Target $63.89.

Bears Scan Results
NA

Review (Watchlist)
Bulls

1. MEE - 9/12/09: Entry at 36.36. Target $42.81. Stop loss $35.23. XLE hottest sector for past 10 days. Broke our of pennant and previous high. Pennant target is $50.46. This is the first time I saw Pennant breakout. Not sure if the target is reliable or not. Will stick to Fibo extension target.Target hit on 23/12/09.. Continue to monitor to see if pennant target is reach. Relative strength still present. Now $48.30 but high is 51.24. Pennant target reached!!!
   
2. HUM - 10/12/09: Hidden Divergence - Red Spinning top and doving pigeon. Relative strength still present. but Healthcare was down. Now $46.95.
3. MCD - 9/12/09: Spinning top. Price bounce from SMA50. Now $61.84. Relative strength weakening. Will drop counter.
   
4. V - 9/12/09: Bullish Engulfing but no T30, swing trap or ghost town. Price continue to move up. Now $87. Losing relative strength. In supply zone now. See if it will go down from here.
   
5. SINA - 10/12/09: Entry at $44.27. Target $47.95. Stop loss $42.57. 9/1/10: Doji on EMA30. Now $45.87. Losing relative strength
   
6. RIMM 7/1/10: Although, usually setup need to have SMA200 below price. Let's try this setup. - Broke out of downtrend upper resistance with high volume. 7/1/10:  1st T30 setup after SMA10 cross over EMA30. Relative strength still present. Entered at $65. 82. Stop loss $64.34, Target $71.31. Now $64.52. stop loss hit at $64.34.
7. UUP - 12/1/10: Broke out of downtrend channel resistance. 1st pullback to TAZ but now below EMA30 with hammer. Will continue to monitor just to see where USD goes.
   
8. MHS - 7/1/10: Hammer on EMA30. No other support. Lower high formed but could be a swing trap. XLV is the 2nd coldest sector plus MHS relative is losing strength. Let's log in the entry and see if this will be a loser. Entered $63.91, Stop loss $63.11, Target $65.93. Now $65.49. Target hit at $65.93.
9. EL - 23/12/09: Bullish Harami but very near to 52w high area.Entry at $48.09. Stop loss $47.51. Target $50.39. Head and shoulders? XLP is down but EL relative strength is up. Now $49.78.
   
10. IBM - 8/1/10: Spinning top on EMA30. XLK 3rd Coldest sector for past 10 days. Entry $129.88, Stop loss $128.86 Target $132.83. Now $129.48. Stop loss hit at $128.86.
    
11. INFY - 9/1/10: Credit spread anyone? Earnings is near but setup looks good. Entered at $54.35 (5 min chart 50% retracement) stop loss $ 53.52 Target $56.87.
    
12. IP - 9/1/10: - Hammer. XLB 2nd hottest sector in past 10 days. Entered at $27.04. Stop loss $26.18 Target $28.49.
    
13. TIN -  9/1/10 - Spinning top. XLB 2nd hottest sector in past 10 days. No trigger. Drop counter.
14. URBN - 9/1/10 - Doji at EMA30. XLY 4th coldest sector but showing relative strength. Another Doji but no trigger. Possible entry $34.12 Stop Loss $33.46 Target $36.15
    
15. VTR - 9/1/10 Hammer at EMA30. XLV 5th coldest sector. TR losing strength. Did not enter because Risk/reward not good. But will monitor to see the outcome.
    

Bears

1. CHL - 6/1/10: doji at SMA50 resistance. Relative strength still down. IXP sector is also losing strength. Entry at $47.16. Stop loss $47.34. Target $45.13. 7/1/10: Did not trigger but CHL is in a nice downtrend. Will continue to monitor to see if price will go down from here. So far when price is near the downtrend resistance, it goes down fast. 12/1/10: Broke out of channel with huge volume. If price shoot pass SMA200, time to look for 1st pullback to TAZ.
   

Net: +$1543. (Details pls see table)