Walmart post-earnings chart

I posted this 4 weeks back on "mexican bribes" plunge for WMT: My WMT buy Where does WMT stand now? Walmart is ~ 5% higher.

Walmart Inc. smashed earnings estimates today and pushes higher today by 4.71% as of now. Sure, the stock went lower and we had almost a month of consolidation before the push here. We may have another round of higher lows before we go higher. But, the way these big caps are breaking out (MSFT? AAPL?), I don't see any bear market at this levels like many on the blogosphere are prognosticating. We had a good correction for the last 5 weeks or so on the general market. My levels to watch for support are 1305, 1270/ 1280.

I am buying the market here with my stop at 1250. This is for Intermediate term - next 4 - 6 months. In short, the bull market is still alive!

Market update

My stance on the markets:

US markets (DJI/ SPX/ COMPX) - Bullish with a bit of caution
Commodities (/CL, /GC, /SI) - Bearish until turn up again

Basis of the above stance is short term using daily charts.

Buying Wal-mart stores Inc. right here

Bid 59.57 ask 59.61

Buying WMT right here, ahead of today's open. Bribery and news is noise to me when I look at this long term chart. Stop at 57$ though.

Potash Corp.

Commodities and then utilities are the last to top in a bull market. If we think this bull market is going to top (or already did!), it will not end without commodities and their stocks not topping. We see a long range consolidation in the ag names. I am taking POT as a classical example here but you can pick the basket MOO. I expect POT to breakout soon. In simple terms, buy here and have a stop 7% below. Or buy the breakout above 48$, if you are conservative.

I also think that this bull market has not topped, more of that later in the next post. Very soon though, ok na?