Portfolio Update

This post is for December 29th, 2009. I had a very long day so this is going to be brief. Here is how my portfolio fared.

CPLP had a bullish day on slightly better than average volume. This movement turned the Stochastic and MACD indicators back up so that they are in contact with their signal lines. The Stochastic is just below the over bought range. The placement of the open and close of the price movement was above the downward trending resistance line I have been tracking it with. Although the bid and ask of the day suggest indecision by engulfing the entire price movment, there is reason to believe that this may be the continuation of the upward move.

EVEP had a bullish day on slightly better than average volume. This move, however, closed lower than it's open. The Stochastic and MACD indicators say that the stock is overbought. The Stochastic indicator continues to move sideways and the MACD continues to decline. The bid and ask prices are also very wide, suggesting indicision. Swing traders should pay attention to set stops.

SLV had a solid bear day on slightly higher than average volume. This movement has weakend the Stochastic and MACD indicators. The bid and ask are bracketing the low of the day. This suggests a lower opening for the next day. I am disturbed by the continued depression of this ETF. The $17.42 price is proving hard to break above. It really should be much higher.

As for option paper trades, JADE made a bullish move but did not move higher than the previous day's high, so I am not moving in on it just yet. JPM is finding it hard moving higher, continuing to wait on that. OPWV had a slight bearish day but still moving sideways, so not entering that one. S is looking good for one in the near future. SPIL had a bearish day so I am not moving on it either.

As for me watch list of trades to actually get into, AEA was unchanged from the previous day. That is my opinion, you can take it or leave it.

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