Retail swingers continue to get their butts kicked as intraday market volatility and heavy alogos (little black boxes) push prices through stop orders and abuse anyone not willing to ride the wave.  Thus, I’m not spending much attention on swings right now and spend most of my time trading intraday.  I am, however, sitting on a few long positions and a SPY PUT to hedge myself against overnight global events.

The same story continues from Japan, so it will remain front and center.  There’s no need for me to go further into that scenario for now.  Just be ready to go short if the nukes get ugly or go long if containment is reported.

The latest from Reuters:

(Reuters) – Operators of a quake-crippled nuclear plant in Japan dumped water on overheating reactors on Thursday while the United States expressed growing alarm about leaking radiation and urged its citizens to stay well clear of the area.

Quick looks at the sectors and individual stocks with the most strength today:

Top Stock % Gains in SPX500:

BTU 3.9%

RRC 3.81%

SWN 3.28%

CHK 3.09%

CNX 1.71%

See any similarities? Lol.

  • Coal led the way as a sector printing the only ‘green’ today.  Leaders included JRCC, BTU, SCOK, PVR, PUDA, PCX, CNX, ACI
  • Oil and Gas Operations followed – Leaders included AXAS, CPE, PDO, KAZ, ECA, AAV, CEP

But, let’s not kid ourselves, we may very well be in a reversal, not just a correction.  Gotta play it day by day.  This is ugly:

Quick scan on stocks with following criteria: Above SMA20, average volume over 300k, price under $20, at least 1% gain today, relative volume over 2

ALXA ATRN AXK CMRG CTIC ENOC ERY ES GPL LEI LRAD MRT PWAV SCR SIFY SMN SPXU SRS TNP VDSI.  In general, these charts suck.  Watching LEI, LRAD, PWAV.  Not a good sign when a handful of these are short ETFs.

A few notables from the IBD50:

First thing I noticed was that there are a lot of extended shadows (wicks) on the daily charts for many.  Not good.

RVBD still holds the number 1 spot.   A move through sma10 might bring in buyers.

SWKS – watch for move above 33.

CMG – at horizontal resistance from 12/1

CXO – struggling to get above sma20.  On watch.

GEOI – sitting on sma100.

Other market moving events on tap tomorrow:

The notable companies expected to report quarterly earnings on Thursday includeLululemon Athletica (LULU), IHS (IHS), Ross Stores (ROST), Nike (NKE), LDK Solar(LDK) and economic bellwether FedEx (FDX). Thursday’s economic reports will include fresh data for jobless claims, industrial production and the consumer price index.

Data from the street:  Lots of numbers to digest in the morning.

Consumer Price Index
8:30 AM ET

Jobless Claims
8:30 AM ET

Industrial Production
9:15 AM ET

Leading Indicators
10:00 AM ET

Philadelphia Fed Survey
10:00 AM ET



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