Daily Watchlist 2/2/10 - 4 Bulls 1 Bear

Notes: DJI still in demand level. Trend line support is already broken on $DJI. Lower low already formed. 2 trades were made but not by the TAZ rules as SMA10 has crossed down EMA30 for SPY.

I'm not convinced of the New Moon and Full Moon so I'm starting to track it all over again.
16 Jan 10 - New Moon - Market not at bottom, so I assume it's peak.
30 Jan 10 - Full Moon Market did not go down from here. I will label it as bottom reached.
15 Feb 10 - New Moon - Peak or bottom?

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

Bulls Scan Results

1. FST - Just broke through GMMA Investor resistance. RS up.
   
2. HUM - Just broke through GMMA Investor resistance. RS up.
3. JCI - GMMA investor widening. RS up.
   
4. UNH 2/2/10: Hammer. RS present. UNH near demand zone and RS up. Buy stop at $31.08. Stop loss at $30.35. Target $35.90.
   

Bears Scan Results

1. URBN - SMA200 criteria removed. Hanging man near EMA30. But RS broke downtrend resistance. Trade at own risk.

Review (Watchlist)
Bulls

1. UUP - 12/1/10: Broke out of downtrend channel resistance. 1st pullback to TAZ but now below EMA30. Will continue to monitor just to see where USD goes. RS broke out downtrend resistance and strengthening. Now $23.35 over SMA200!!!
2. BIIB -24/1/10: doji at resistance turn support. XLV and BIIB RS up. 25/1/10: BOT at $52.53. This trade is not following TAZ. I'm entering based on demand zone. Stop loss $51.87 Target $55.12. Now $53.91.

Trades below are violating TAZ rules of longing when SMA10 is below EMA30 in SPY.

1. MRK - 1/2/10: Spinning top on EMA30 and demand zone. Entered at $38.19. Stop loss $37.58. Target $41.35
   
2. TEVA - 28/1/10: Bullish harami Doji + hammer. XLV hit demand and RS present. TEVA near demand zone and RS up. Entered at $56.68. Stop loss $55.75 Target $59.29.
   

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. Now 50.00 - Hit supply and came down with market. Testing resistance turn support now. 24/1/10: Gap support at 46.35.Major demand at 44.70- 45.31. Imagine the last few supply was broken but the last supply produces a very good profit. Looks like Demand and Supply can profit if we don't get too many trades wrong and provided we make the risk very small in the zones.
2. TLT - 24/1/10: Bonds are moving up fast. In TAZ50 but RS is up. If market rebound from here, I think TLT will fall. It's in a very nice down channel now. Now $91.58. I will not record this in the P/L as this is traded off TAZ50 and not TAZ30. Will monitor progress separately. There is history of price piercing SMA50 and there is supply zone right above. Price gap down last night. I will only short if it is in the zone where supply exceed demand. Possible Entry $92.46 Stop loss $93.2 Target $89.14 Now $91.56.

Recycle Bin - Did not trigger.

1. WLP
   

Net: +$813. (Details pls see table)