Monday, August 3, 2009

S&P500 Breaks Over 1,000 Level



The S&P 500 ($SPX) finally has broken through the psychologically resistance level of 1,000. It's been since November of 2008 since it has closed above that level. The momentum is definitely upward, but, I still remain cautious with several indicators in extreme overbought levels. ~$SPX CHART~ Note* 26 week EMA getting close to crossing over its 52 week SMA BUY CONFIRMATION SIGNAL!

Update on suggested BUYS:
BUYS:From July picks
Freeport McMoran (FCX) $45 ~ $65.14 +44.76%
Alcoa (AA) $9.14 ~ $12.60 +37.86%
Hecla Mining (HL) $2.53 ~ $3.26 +28.85%
Yamana Gold (AUY) entry $8.50 currently $9.65 +13.53%
Apple (AAPL) $141 ~ $166.43 +18.035
Transocean (RIG) $67 ~ $82.06 +22.48%
China ETF (FXI) $37.15 ~ $43.65 +17.25%
Valero (VLO) $15.82 ~ $18.64 +17.83%
Google (GOOG) $394 ~ $452.21 +14.77%

August picks: Just one day return

Lincoln Financial (LNC) $21.19 ~ $22.66 +6.94%
Abbott Lab (ABT) $44.82 ~ $44.99 -0.38%

One Short sale from July
Lifeway (LWAY) $12.80 ~ Shorted @$13.05 again +1.90%

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