The Oxen Report: Which Way Wednesday, Markets on Tilt?

Yesterday was an okay day for our picks. We only had one buy pick of the day, which was Ultra Proshares Financials (URE). We got into the stock in the morning at 5.65, and we saw the stock trade down to neutral all day. The day at 5.55, which is where we exited because I was not excited about holding the stock overnight, which appears to be a good choice to start the day today. On the flip side, our longer term play was Aetna Inc. (AET). The stock we bought in on Monday at 25.25. We are looking for an exit today at 26.25 - 26.50, which I think is very attainable. We went 0/1, but our long term play is working very well.

Todayyyy…

Buy Pick of the Day: Direxion Daily Real Estate Bull/Bear ETF (DRN/DRV)

The market is looking pretty curious today. We have a slew of pretty solid earnings reports this morning, but none of the companies are true market movers. Asia and Europe moved down significantly on the consumer confidence news from America way more than the USA. Core Durable Goods Orders came in very solid this morning, beating expectations by rising 0.90% versus the expected 0.50%. New home sales at 10:00 AM will be pretty important to the day. Yet, the market’s futures are still down pretty significantly. So, where are we going?

IN PROGRESS

Entry: We are positioning ourselves in one or the other based on the New Home Sales data that is released at 10:00 AM. A bullish reading will mean an immediate buy of DRN. A bearish, DRV.

Exit: 2-3% on top of ETF.

Stop Loss: 3% on bottom.

Short Sale of the Day: Switch and Data Facilities Company (SDXC)

Entry: We are looking for an entry of 17.60 -17.70.

Exit: 2-3% on bottom for exit.

Stop Buy: 3% on top.