Tuesday, April 28, 2009

CYOU (wouldn't want to be you)

While nothing but nothing says we're in for better than muddy, mirky water still, we did see a bit of upside reversal early today, following the low-volume decline from yesterday. That draws some promise now for a pivot long; let's see how it shapes up.

I let out a little line long coming off the reversal, just in case this runs. If we re-reverse lower today, something I doubt at this writing, then it might just be exciting to get short this market after all. That would be something new - an actual downtrend of more than several hours.

So IF IF IF you guys can gain any momentum downward, I'll be coming late to the party. Right now though I see nothing but Hopeful and Mopeful over there in the corner sipping flat beer from plastic cups, grumbling about market manipulation; how certain swine should be in jail while other swine just may accelerate and take prices where they really want to go; ought to be; etc. etc. etc.

I hate that kind of party, let me know when things heat up. At moment bear balloons need further helium.

CYOU , which I have been trading decently, is live again today; knocking above it's (young) all-time high on strong, rising volume. While this IPO's base is only a couple of weeks young, it has held like a rock during each recent down-draft and now has shot to new all-time highs today in both price and relative strength (RS). CYOU reports Monday before the open. If I could design it, it would rally through to Monday morning and then see profit taking after a further gap-up at Monday's open (somewhere between 33 and 35). Either way I'm looking to reduce by the close of Friday; although I'm happy to reduce on spikes higher now and add then again on pullbacks. Currently I'm holding 8% long CYOU .

TSYS reports Thursday after the close and is set-up for a potential breakout here. Volume was perfect yesterday (strong, rising volume as it rallied to the upper end of a very nice, 10-wk base), but there is not yet a new high in RS (ideal is to see a NH in RS ahead of a breakout) and today is not yet on pace to top yesterday in terms of volume. The pivot for breakout here is 10.19. I'll be looking to increase my position above that level (currently long 3.2%).

I decided against travel today. I remain lightly invested overall and I may still travel tomorrow; which would put me out of commission for most of the day, depending.

Total Position: 3.15-to-1; 25% invested

Currently Long (according to size): CYOU (8%), WNR (4.2%), ARST (3.3%), TSYS (3.2%)

Currently Short (according to size):
STRA (5.9%)

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