TCM Notes : 9/15/09

• Early morning weakness turned into late afternoon strength. Yet another sign that the bulls are still stamping those hooves. UYG continues to push near the top of this high channel that it's in. The push through 5.72 Monday to me eliminated the possibility of a small head and shoulder top. With all the top weightings pushing into higher territory it looks like UYG is getting set to push into new higher levels again.
• IPOs remain red hot this year. SWI is one that was flagged here going into it's IPO date. It saw a move with volume right through it's fresh buy point of 21.72 Monday. It's up 78% since 5/20! In the tradition of CYOU Goldman Sachs is getting ready to roll out GAME (Shanda Games Ltd. ADS) very soon. I will most certainly be looking to get in on that one. The way the IPOs have performed this year I'm surprised the media has not paid more attention. Some new filings coming soon show that REITs make up a good bit of what's rolling out. ARI, FSQR, CLNY, and CXS are just such names. GAME, AONE (A 123 Systems) , SEM, ART, and VITC are other names coming. GAME and AONE are due out next week and could make for a nice trading opportunity. ART, which is a carve out of Julius Baer's asset management business is expected next week as well, and the word is it should have some interest. http://www.reuters.com/article/marketsNews/idCNN1439382220090914?rpc=44
• This is a good place to look up info on these IPOs. http://www.renaissancecapital.com/rencap/default.aspx