12/15 Cautious Long and be Prepared to Short ST/MT

Open up new session for Monday 12/15

Note: I will be busy entire week during the tradind session, I won't be able to answer questions, But I will try give alert of I see any important changes.

Note: I will be VERY Cautious on long positions. I will start positioning Mid-term shorts this week if we have an OE upside run from 900 to 950 area.

DJIA 30 names daily charts here, largecap stocks mostly look tired with DJIA lagging while small cap russell is out performance again, feel like similar to last bounce.

AA AXP BA BAC C CAT CVX DD DIS GE

GM HD HPQ IBM INTC JNJ JPM KFT KO MCD

MMM MRK MSFT PFE PG T UTX VZ WMT XOM

Chart glance for indices, USO, $VIX, $CPC, $BKX, UUP

Focus on the relationship and impact from USO, $VIX, $CPC, UUP, BKX to Indices

Dynamic chart XLF Daily, Looking for 50% fib retrace around 12.6 to end this bounce

Dynamic chart XHB Daily, Possible go 13.5-14 area before come down.

With Commodities hold the ground, watch these two sectors, once they complete their bounce and start heading down, so will the general mkt indices.

Dynamic chart SKF Daily, I will consider SKF, if XLF sees 12.6 area and heads down again

Dynamic chart SRS Daily, I will consider SRS if XHB sees 13.5-14 and SPX near 950

Dynamic chart URE Daily, Within triangle, same as XHB, TA looks more upside. But I won't hold long URE over night if I ever get into it.

Dynamic chart SPX Daily Interesting hammer close on Friday with support held above 840. If we do not have bad news or surprises, the momemtum can carry it towards 50ma (900-909). After that it can retest 860-865 support area. after that, for OE, is everyone's guess.

Dynamic chart 15 min SPX Channel within Triangle formation. Dynamic 60 min SPY Channel or triangle, continuation or break out, the decision will be make next week. Be very careful on those support lines.

Stocks/ETFs that I am watching:

Day trade longs: FLR POT MLM VMC DRYS BIDU

Short term long on short ETF: SKF SRS QID

Mid-term shorts/puts: SPY, DIA, and above DJIA names (May/June or leap)

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