Bought some Kinder Morgan (KMI) today at $32.42 with a stop loss at $32.15. Once it starts approaching its long term downtrend line I’m bailing.
The market continues to look really strong here but with 100% of my 401k in midcaps, RSI getting hot, and the spinning top formation in the S&P, I’m going to ring the register on this great run and wait and see what the market wants to do next. Hogs get slaughtered.
Bought some SDRL at $35.86 with a stop at $35.25. This stock has gotten murdered the last couple of months and put in one hell of a bull hammer yesterday. Its a risky play but I like the chart. Also re-bought HAIN at $86.44 again after being in and out of it a few times the last few days with a stop at $85.95.
I don’t always eat organic so hopefully buying an organic stock will lower my cholesterol. Mainly as a quick, possibly a day trade, I bought HAIN at $84.95 with a stop at $84.48.
I immediately got stopped out of all of the stocks I bought in the IRA but tried to catch a turn around day in the 401K. Unless a miracle occurs by the close of day, I’ll be in all cash again. I had avoided this year’s nastiness in the 401k entirely and should have waited to get back in but I thought the odds favorite was that small caps bounce and continue up. No reason to sit around and hope to catch an immediate reversal day, back to pure D-Fence. Hard to say when the markets turn around but if we don’t go on a tear shortly, I’m going to focus on the 200 day moving average as a potential support point. Time will tell.
Being in all cash for the last few days has been kind of nice. Still waiting here until at least after the fed releases information today. After that I like IWM, HIG, and GM. The major indexes are certainly in the danger zone here. I’m not going long into any stocks until the major indexes show signs of strength.
1-30-14: In IWM @ 112.66 and HIG at $33.61. Looking for enough strength to move 401K into small caps as well, we’ll see what the day holds.
1-30-14: 100% of 401k went back into small caps after selling 100% of 401k out of small caps on 12-27.