Waiting for stock massacre

Looks like things are turning for the worst:

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

I'm waiting for the next slaughter. I'm still holding all my position and didn't close them during last week's bank massacre. Hopefully I'm right.

Celgene (CELG)

CELG Weekly Chart

CELG has given another sell signal. Price below the uptrend channel yet again. The next uptrend channel is at 30.Weekly RSI uptrend also broken. Another try but with smaller position. Bought 2009 Apr put.

Financials Down

Only the Biotech sector is standing. Oil, shipping, retail and airline is still neutral. Financials are all down.

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

Sigma-Aldrich Corporation (SIAL)

SIAL Weekly Chart

SIAL has broken its ascending triangle. Long term uptrend also broken. Support 35/27/25. Bought 2009 Apr put.

Chubb (CB)

CB Weekly Chart

CB has broken its ascending triangle. Also, it has broken its uptrend line again. Supports: 35/25. Bought 2009 Apr put.

St. Jude Medical (STJ)

STJ Weekly Chart

STJ has broken its rising flag. Supports: 25/22/16. Bought 2009 Apr put.

Chevron (CVX)

CVX Weekly Chart

CVX has broken its triangle. Supports: 55/48. Bought March 2009 put. Hopefully, CVX will make me money this time. The last time I bought the puts, I didn't take profit, so my puts will expire worthless this Friday. I didn't get out of the position because CVX has broken its uptrend line. The only direction to go is down. But, my Jan 2009 puts ran out of time.

Wells Fargo (WFC)

WFC Weekly Chart

WFC has broken a triangle. To challenge uptrend line at 22 again. Supports: 22/19/13. Bought April 2009 put.

Flowers Foods, Inc. (FLO)

FLO Weekly Chart

FLO Daily Chart

FLO has broken from a rising flag (from daily chart). Long term uptrend also broken (from weekly chart). Supports 20/17. Bought Apr put.

Comerica (CMA)

CMA Daily Chart

CMA has broken down from a triangle. Support at 15/11. Bought Apr put.

Santa Claus Rally Over?

Looks like the Santa Claus rally may be over. The banks has turned down again:

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

For sectors that are labeled neutral, looks like they are turning weak again. Not confirm yet that they will rush to the downside.

December 08 Performance

Not a good month for me. My hot streak has cooled down and may take a turn for the worse next month. Positions that has been closed in the month of Dec 08 are:

• CB 09 Jan Put (-): Cut loss.
  
• ACE 09 Jan Put (+): Got out of the position to protect capital. Barely break even.
• DSX 08 Dec Call (---): Expires worthless.
  
• TXT 08 Dec Call (---): Expires worthless.

So, my rebound play with calls didn't work at all due to bad timing. I think I will stick to playing the weekly trend direction.

JP Morgan (JPM)

First trade of the year. Still looking out for a strong trend. Without strong trend, the options have a higher probability of expiring without making any significant movement.

JPM Weekly Chart

JP Morgan (JPM): Bought Mar 09 put. It may be moving to challenge the previous low. It has broken a smaller rising flag a month ago. Support 20/16.

Hit Left and Right

I'm hit right and left for being bearish. Will wait until clearer signals emerges.

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