Friday, December 17, 2010

Yesterday's Strategic -Tactical posts seem pretty well timed this morning, it's always hard to trade against the prevailing price, but when you have conviction of the trade it gives you much better positioning. As you know the exit is only one part of making a gain, the entry is just as important and I think maybe the harder part.
FXP mentioned numerous times, but latest was Wednesday and yesterday, looks like it may be in good position as the expectations of a Chinese rate hike are building. Right now FXP is just starting to breakout. Yesterday would have been a decent area to buy as well on a bit of weakness.
Keep your alerts set for BAC, a decent entry would be below $12.38 with a stop above $12.78. You could phase into the position and add as it takes out the next major support around $12.25 and then $12
I still like SRS, especially on a pullback so long as it holds $19, which I believe it will.
A Grocer that I recently highlighted, RDK as a short will be worth a serious look below support at $37.50-remember they have tight margins that are being squeezed and inflation in food is up substantially.
TGT will also be worth a look as a short below support at $58.40


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