UniCredit & TechBull,

Italy ended party in Europe quickly. 

It is certainly little more exiting to live with our markets than it is in with US market in these days.

Most South-European banks did drop down anywhere between 8 and 16 percent today after UniCredit news, but it didn´t effect so much for another markets actually. Only small negative in mid-europe. Market does not like much if someone express any needs to have more money in these days ;)

Neutral & Silent BearBull season still acts in US market mearning another half from the SPX500 stocks goes down while another half comes up. Yesterday commodity rally turned today to be techrally where Microsoft, Intel and Cisco all ramped up the most from major names.

MSFT has been under cont. triangle over second half of the passed year. 

Windows8 buyers started to act a little early ? 

I am little pissed of because of INTC, my buy order were at 22.50 and it did left retracement with it 23.00, expensive EW ABC calculation error which never didn´t come true but was so close which I also posted some time ago. Well, I did profit the autumn impulse with it however plus also sold the peak.

- My PCS gave -70% profits away I had with it and I closed it for this reason.

- AZO stopped & denided drifting anymore lower and volume came for the stock as buyside and I closed it, that took -50% profits away I had with it.

- Skipped Braskem so far yet because I do not see divergence enough yet but took that Molycorp & Chesapeake.

Protect your profits is the name of the game, even they would be small.

- I also took profits away from Sony and planning to do so soon for MittalSteel also.

- If any additional plus days will be ahead over the next few weeks because I am allmost sure now it is missing fifth wave (NOK). Upside movement is zigzag based only for my eyes, it never didn´t went for oversold enough. It´s nice to have these little gains with it new year effect brought for us but I have no attention to start opening it´s report by end of month unless it is going to drop clear and finished for very oversold fitfth wave for it. So far I still have it but I am now potential seller. Nothing new and I still agree with original statement that it is question of 1 euro or even less to make fifth for it from the current low.

But overall another good day for me, Alcoa appears to respond perhaps most promising.

My Autonation hedge as short side was the biggest decliner today in SPX and also with decent selling volume. I have little hope now this would become something more serious yet later but if it doesn´t I will close it too before it starts to eating my profits too much, it dropped down -7%.

I also made one orthodox low move today which was taking UNG gas long with devils number 6.66 (perhaps it reminds me ugly SPX-666 low) but I am planning to be also seller for it if any few days rallies will occure. Is it legal to wedge RSI ?

I speculated a bit currently closing hedgefund indursty has been exit mode with it for year end, it did only doji yesterday but today started to see a little action from extreme oversold territory.

I also bought all 3 suggestions posted yesterday ChesaPeake, Molycorp but Braskem buy order waiting from 61.8% rettracement while I took only small position from 50% yet, but not so sure about if tihs Braskem going to work at all, my stop with is is going to be wedge low for it.

Bloomberg reported today interesting stats about HedgeFund Indursty from Asia which follows very much the same what is heard allready from US and likely does not differ in Europe either, 250 funds closing and doing exits to shutdown because no profits available while another new 250 new faces will enter:

Market never change, only market participant does ? 

The numbers are very close of equal between how many are closing after difficult year compared for how many new funds are opening. There is traffic-jam of new hedgefunds coming to the market during the spring-autumn, which might mean that until that there is hardly any volume in the market places as one explaining factor. Existing one´s closing the operations & cleaning the desks & books while new one´s has not arrived yet to start opening.

From world biggest investment banks there is major number of teams reported leaving & opening own funds where some of the strategies are so complex one can hardly even understand what they are planning to do. 

One reason how January uprolls are traditionally explained are investment bank bonuses which are paid by end of year in most cases while this money have behaviour to find it´s way to the stockmarket. At this time situation is just a bit different because very few of them got any bonuses or they were pretty small where actual capital gains were mostly hidden under rocks or taken away all the way to the losses over the passed year if one was bullish as investment bankers & investment banks usually are. 

The next guys might have much more sofisticated strategies than naked stock longs.


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