We had another great day in TTW, and there will be plenty more to come in 2010. Before I share what’s coming up tomorrow, I’d like to say I’m sure proud to be part of this group of traders on this blog. Not only the way they conduct themselves, but the ability to let things roll during the trading day and never give power over to negative emotions, or anyone seeking to draw that out. I know you know what I’m talking about. ;-) Well done. This is going to be short and sweet because those crazy FX traders have been keeping me awake every night and I’m lacking sleep.
So, Y So SRS? I thought I’d post up a couple of charts on the REITS and Home Builders tonight. I do not, and I repeat, do not recommend trading SRS unless you’re an old hand at this widow maker- there are plenty of other ways to wipe the lipstick off that cat’s face. (imagine having to give that cat up there a bath, and that’s what it’s like to trade SRS on most days!) Here is a link to the top ten holdings for IYR and one for XHB to look over as potential shorts. But please keep a close eye for support/resistance and take your trades carefully. I also have some Osi (tm) charts to share with you tonight- thank you Osi!
Tomorrow on the economic calendar: New Home Sales at 10:00, and Geithner goes before Congress. Hanky Panky is also supposed to testify, but I’m not sure if that takes place tomorrow or not. From there we have Oil Inventories at 10:30, so please review the charts Doula posted throughout the day for our benefit. After that’s all out of the way we’ll have the FOMC announcement at 2:15. Get ready to rock and roll and strap yourself in your computer chairs. Tomorrow night dear leader will bless us with a speech at 9:00 PM EST. Looking ahead to Thursday, remember we will have Jobless Claims at 8:30 and Nat Gas reports for Mau and BigIsland at 10:30. ;-)
Earnings for Wednesday include: Before the bell- ABT, BLK, CAT, COP, GD, HES, CAT, UTX, VLO, WLP. Post session will include: CTXS, GMCR, NSC, KNX, QCOM, JAVA. By the way, Osi Systems reports tomorrow too: symbol OSIS. Who knew he was running a conglomerate on the side?!! For you crazies there will be two intra-day earnings announcements out of SUSQ and EGN. Please research the time of those announcements if you dare to care. See you all tonight/tomorrow. Enjoy the tape, let’s hit ‘em hard again tonight and tomorrow!
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Osi Charts
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