Even though I was gone all of last week it seems the market and my picks did just fine without me.

Starting as usual with the market indices tonight I want to note that the bulls haven’t officially taken control of this market just yet. We still need to close above key resistance lines for the bulls to claim victory.

NASDASQ Composite

This index had a great run last week but still needs to close above 2420 on heavy volume to reverse the long term down trend.

S&P 500 (SPY)

Same story for this ETF tracking the daily performance of the S&P 500. A close above $139.70 on heavy volume is the big target for bulls.

Mechel Steel Group (MTL)

Daily readers know that I have been a fan of Steel for some time now, and the story keeps getting better and better. Lower volume today but MTL managed to close at fresh all time highs in the mid $150s, putting it up close to 10% since the $143 buy point.

Potash Corp (POT)

This post says it all, Watch Out Fertilizers Stocks Are Back.

POT is up some 25% or so since the latest breakout at $167.

Monsanto (MON)

MON is up now about 5% from the latest $123 buy point.

Baidu.com (BIDU)

BIDU was called as a buy at $307, and today closed at $357. This puts the stock up some 17% or so since early last week.

Intuitive Surgical (ISRG)

ISRG is a fantastic reason why you do not buy unless it is on strength. The latest buypoint was supposed to be with a break of $360 which never happened. For those who had bought recently on prior break outs the loss is far less then buying at the peak.

ISRG tanked after it blew out earnings but had future estimates lower then what the Street wanted to see.

DB Commodities (DBC)

Original buy point $38, and the next is $39.40 on heavy volume. DBC is the Deutsche Bank ETF tracking commodities.

See you tomorrow.

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