Sector Overview

Still under holiday mood. That is why I am late in posting this:

USA	Longterm	Midterm	Shorterm
S&P500	Down	Down	Down (-)
DJI	Down	Down	Down (-)
Nasdaq Comp	Down	Down	Neutral
Russell 2000	Down	Down	Neutral
AMEX Natural Gas	Down	Down	Down
AMEX Oil	Down	Down	Neutral
AMEX Security Broker	Down	Down	Down (-)
KBW Bank	Down	Down	Down
KBW Insurance	Down	Neutral	Neutral
PHLX Housing	Down	Neutral	Neutral
PHLX Shipping	Down	Down	Down (-)
S&P Retail	Down	Neutral	Neutral (-)
AMEX Biotech	Down	Down	Neutral
AMEX Airline	Down	Neutral	Up

That is my readings for the week ending 26 Dec 2008.

Airline Liftoff?

Looks like the airline sector may have the first liftoff:

USA	Longterm	Midterm	Shorterm
S&P500	Down	Down	Neutral
DJI	Down	Down	Neutral
Nasdaq Comp	Down	Down	Neutral
Russell 2000	Down	Down	Neutral
AMEX Natural Gas	Down	Down	Down (-)
AMEX Oil	Down	Down	Neutral
AMEX Security Broker	Down	Down	Neutral
KBW Bank	Down	Down	Down
KBW Insurance	Down	Neutral (+)	Neutral
PHLX Housing	Down	Neutral (+)	Neutral
PHLX Shipping	Down	Down	Neutral
S&P Retail	Down	Neutral (+)	Up (+)
AMEX Biotech	Down	Down	Neutral
AMEX Airline	Down	Neutral	Up (+)

The banking sector is still weak, but not that weak as compared to the Oct 2008 period.

Weekly Analysis

No strong trend detected, movement is pretty much sideways:

USA	Longterm	Midterm	Shorterm
S&P500	Down	Down	Neutral
DJI	Down	Down	Neutral
Nasdaq Comp	Down	Down	Neutral
Russell 2000	Down	Down	Neutral
AMEX Natural Gas	Down	Down	Neutral (+)
AMEX Oil	Down	Down	Neutral (+)
AMEX Security Broker	Down	Down	Neutral
KBW Bank	Down	Down	Down (-)
KBW Insurance	Down	Down	Neutral
PHLX Housing	Down	Down	Neutral
PHLX Shipping	Down	Down	Neutral (+)
S&P Retail	Down	Down	Neutral
AMEX Biotech	Down	Down	Neutral
AMEX Airline	Down	Neutral	Neutral

Sector Indexes (20081205)

Finance are holding up well. For the oil and gas sector, looks like it is attempting another downward move. For the rest of the sectors, they are trading at a wide range.

USA	Longterm	Midterm	Shorterm
S&P500	Down	Down	Neutral
DJI	Down	Down	Neutral
Nasdaq Comp	Down	Down	Neutral
Russell 2000	Down	Down	Neutral
AMEX Natural Gas	Down	Down	Down (-)
AMEX Oil	Down	Down	Down (-)
AMEX Security Broker	Down	Down	Neutral
KBW Bank	Down	Down	Neutral
KBW Insurance	Down	Down	Neutral
PHLX Housing	Down	Down	Neutral
PHLX Shipping	Down	Down	Down
S&P Retail	Down	Down	Neutral
AMEX Biotech	Down	Down	Neutral (+)
AMEX Airline	Down	Neutral (+)	Neutral

November 08 Performance

The reversal from 21 Nov 08 really hit me hard. It erases a big chunk of my open profit. My close positions for this month are:
BYI 09 Jan Put (6+): Close out as it seems that it will stay within the downtrend channel.
CMA 09 Jan Put (1+): Got out of this together with JPM.
GME 09 Jan Put (+/--): Just breaking even with this one. Got nervous with my positions as it rebounds.
JPM 09 Jan Put (3+): Just barely managed to get out with a smaller profit.
MDC 09 Jan Put (--/--): Got two positions but didn't take profit. The rebound was strong. Decided that this is a hard one to play, so cut my losses.
SYK 09 Jan Put (10+/2+): This stock gave me a good profit. Set a new record based on percentage. Close the position as it is very oversold on all time frame.
USB 09 Jan Put (+): Strong rebound, so decided to close this up.

Overall, I'm satisfied with my November 08 performance. Just too bad that I didn't take profit on most of my position.

Looks like I'm heading into a bad December. Most of my puts are not working and I'm scaling down my positions. Biotech and oil themes are not working as I like. My luck may be running out. Time to conserve my capital.

Consolidated Edison (ED)

ED Monthly Chart

ED Weekly Chart

Consolidated Edison (ED): Monthly chart shows that the uptrend has been broken. Currently in a downtrend channel. Weekly chart shows that a rising flag has been broken. Supports: 37/35/33. Bought 2009 Feb put.

Low Volume Rebound

I hate low volume rebound. Well, everyone is back by Monday. Let's see what is the true direction of the indexes.

USA	Longterm	Midterm	Shorterm
S&P500	Down	Down	Neutral (+)
DJI	Down	Down	Neutral (+)
Nasdaq Comp	Down	Down	Neutral (+)
Russell 2000	Down	Down	Neutral (+)
AMEX Natural Gas	Down	Down	Neutral (+)
AMEX Oil	Down	Down	Neutral (+)
AMEX Security Broker	Down	Down	Neutral (+)
KBW Bank	Down	Down	Neutral (+)
KBW Insurance	Down	Down	Neutral (+)
PHLX Housing	Down	Down	Neutral (+)
PHLX Shipping	Down	Down	Down
S&P Retail	Down	Down	Neutral (+)
AMEX Biotech	Down	Down	Down
AMEX Airline	Down	Down	Neutral (+)