Inflation Says Hi

PPI came in higher than expected, and is up 6.9% year over year. Core PPI excluding Food and Energy was in-line with expectations. Nothing else was really a market mover.

I sold MUR for a 51 cent gain, which was a modest 8.4% profit since yesterday. I also sold more APOL for a nice gain. I am averaging about a 30% return on APOL so far. I dumped XLI for only a $70.00 gain, just a scratch trade. I am sitting on just a little bit of stuff ahead of the BIG 3, which are INTC tonight, and JPM and PPI tomorrow. There is so much information to come tomorrow with earnings and economic reports that it won't do much good to micro-analyze all the minutia.

There is a lot of news out, a lot more to come, and a lot of ways you can read it and speculate. In fact, there is so much that it may be best to just sit and watch, and wait for Big Money to tip its hand as to where they want to take the market in coming weeks.

Here are some Bullish movers: INFY (breakout), MEE (bounce), SPWR (bounce), RRC (bounce), BHP (bounce), DRYS (bounce), MDR (bounce), and AMX (bounce). Steel may be on the move again and X, STLD, MTL, and AKS bear watching. Gold may be on the move as an anti-inflation play, with AEM and GG looking the strongest. If INTC pops the Naz and Chips tomorrow, I may play the Q's, and also look at SNDK, KLAC, and CY (but CY has earnings in 2 days so I would be quick or not at all).

Here are some Bearish movers: LVS (breakdown), WYNN (breakdown yesterday), RTN (rolled over, then broke down yesterday), MRK (may be ready to roll over), and the short ETF's (SDS, DXD, and QID look like they want to roll over, which would coincide with the market bouncing short-term).

There is so much information for the market to digest by the open tomorrow, and throughout the day, that I still want to be nimble, and keep my positions smaller.

Some days are tougher for me to post than others, like today. I am usually trying to throw something on here or there, between phone calls, or on a break. I answered the last comment questions from yesterday and today this evening. Eventually I may be able to focus strictly on trading with you, but for now, I have to squeeze things in as I can. All in all though, I think things are going pretty well. A lot of you are making good progress. Keep up the good work.