Market Notes 3-13-2012

About 70 degrees here today, just unreal. Winter has about run out of time. I am not sad to see it go. My eye is good to go, no lasting issues.

Big Banks are a "Dirty Business"
I don't want to spend much time on this topic.

Big banks are disgusting, and their collusion and partnership with the FED is stomach churning. The "Stress Test" results being first leaked then released ahead of schedule is just another blatant abuse of the financial system. Banks and the Fed, in the words of Don Vito Corleone, are a "Dirty Business":

With thousands of stocks out there I have no idea why the rush to buy in and support such crap. Returns, money, a trade bla bla bla boring. No need, none at all.

Market Notes
Today looked and felt for a while like a sort of panic buying blow off top sort of thing. Only time will tell, but I remain open minded. Some stocks I have been in or opened Monday have moved out of nice bases that were very compressed, not just some random run up out of no where. ChessNwine has an excellent study on this in today's market recap:
Stock Market Recap 3/13/2012

Here are my open positions and notes. Click any chart for larger view.

BANR (from 2/1/2012)

WRI (from 3/1/2012)

On Sunday I discussed my new focus on longer term swings based on weekly charts and I opened up 3 new positions yesterday. All trades posted in the iBC 12631 Pelican Room as soon as I am able.

PETD

CTXS

WLK

Clearly all of these names do not sport vertical charts with no tether to reality. Solid basing, volume in weight, and then price movement. As long as I can find individual setups like these I am not all that interested in the indices overall.

Have a good night.