Daily Watchlist - 9/2/10

The link of the blog has been changed to http://lewis-analysis.blogspot.com/

SPY hit hour supply and turned. STX and ENS also hit hour supply and turned last night. Wonder if it will go test the demand below.
I'm going to try something new here. My watchlist will be in excel with only a few criteria. SMA50 up, down, sideway. Relative Strength of counter,etc etc.

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 Peaked.
30 Jan 10 - Full Moon - Market bottomed.
15 Feb 10 - New Moon - Peak or bottom?

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

Bulls Scan Results

TAZ Buy List

1. CMA - Bounced on demand and EMA30.

Demand watchlist (Details of demand level, pls see Watchlist.xls)

1. UNH - hammer on EMA30.
2. BHI
3. HUM
4. SHLD
5. WLP
   

Bears Scan Results

TAZ Sell List

1. NA

Supply watchlist (Details of supplulevel, pls see Watchlist.xls)

1. ANF - Very near supply level. Daily supply at $34.98. Waiting for alert to trigger.
2. CSCO - Hourly supply at $23.97.
3. USO
4. BA
   

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 $23.65 over SMA200!!! Reaching weekly supply soon at $23.64.

Trades below are trading based on Demand

1. 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 $52.84.
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. Now $57.76.
3. TGT - 4/2/10: Bounced on demand.Entered at 56.68, SL = 55.75 T = 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. - 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. Now 47.38.
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 $91.98

Trades below are trading based on Supply

1. JCP - 3/2/10: I was already in on paper before the scan. Entered at25.45, SL = 25.62 T -= 24.26
2. ENS - 8/2/10: Supply at $22.57.Entered 22.58, SL = 23.04, T = 19.74

Recycle Bin - Did not trigger.

1. NA

TAZ P/L: +$742. (Details pls see table)
Demand and Supply P/L: Currently 0 (Details pls see table)