None In A Row

 

Well, we did not get anything correct today. We said we should start the day down as a natural sell should occur after a 7% week. (That is not my thinking alone, I heard about 9 times today on Bloomberg and it was mentioned about 4 times in this week's Barron's.) However we came out of the gates strong on promising blah blah out of Europe. Of note Italy said they are going to take a serious approach to austerity. That could mean they are cutting down espresso breaks from 30 minutes to 20 minutes.

Austerity is such a subjective word.

 

We also said factory order would beat expectations. Well they did and they didn't. The number came in lower, but if you back out some specific airline scenarios, the number was positive. We also missed the call on ISM survey. It was disappointing. So the market did not go up 2% instead it was up about a half a point.

 

We made no trades today even though we were looking for them. Here a re few things we noticed today.

 

AAPL is still setting up nice as a buy with Momentum and RSI looking strong. We are LONG.

 

GLD is sending mixed messages, but we are keeping LONG as a defensive position in the portfolio.

 

FIO is a mess and we are paying the price for a bad mistake. We got everyone out but the primary Salve Lucrum portfolio. We have seen a 19% loss improve to 12% loss. We are LONG FIO.

 

XOM was all over the place today but finished down. Technical's suggest a run up and the chaos in the middle east won't hurt the price of oil in that scenario. We are LONG XOM.

 

UN is still looking nice and we are enjoying a little gain. We are long UN.

 

MSFT is teasing us. We did get in a long position a bit too early on this but the charts are still saying there is life in the stock. We will be patient and stay long in MSFT.

 

TRP Looks nicer than it did a week ago, but the price is not necessarily doing what the chart says it should be doing.

 

UNFI is looking like it want to explode according to the pretty charts, but is still just 2.5% up from our buy point. We are LONG.

 

AAPL January CALL $385 is doing what we thought it would. In one day we have seen a decent little jump at one time up 16%. It is back down to 5.3%. We will stick with it until we see the 20% we expect.

 

ASXSF was a very speculative penny Canadian mining stock we got sucked into we are going to die with this stock just to remind me I do make REALLY stupid buys. It is down 12%. We are LONG.

 

Yum January $50.00 call is sparkin up nice up about 9.5%. We will wait for our 25% goal probably by the end of the week.

 

VRUS January 120 PUT is still enjoying the euphoria of its jump last week. Once the market corrects, we should see this PUT explode. Patience is a virtue with Options.

 

UNH January 40 CALL is not shaping up as we had hoped but is flat lining. The chart is shifting to a mixed signal and making us reconsider this CALL. We are up 1.2%

 

PNRA January 140 PUT was down about 14% today because the underlying stock was up 1%. We still feel this stock is WAY overbought and due for a correction.

 

Tomorrow, we will remain patient and watch these little blossoms do their thing. Yesterday we threw out a test to our readers. Out of our 53 readers, yes I added another (it is my beautiful cousin Kath from the Albany clan of Cronin's, welcome aboard) we had some one already solve the alphabet soup of BOJ, ECB, BOE, SNB, BOC which was Bank of Japan, European Central Bank, Bank of England, Swiss National Bank, and Bank of China. Ted Moreta was our winner and will get a yet undetermined nice bottle of wine. Come on Russ, Ted is showing you up?

 

Salve Lucrum