Wednesday, January 13, 2010
ENTANGLING TERRAIN
SHORT TERM MEMORY LOSS
Had a lot going on on the homefront tonight so will make this short and sweet. The market continues its rally with no sign of letting up. Until options week is over though anything can happen. Another down day could come upon us just as quckly as the up today. As usual the market has short term memory loss. I thought earnings started with a sour note yesterday? Oh, that’s right, that was yesterday! Several of the weakest sectors over the last few days, particularly tech, perked up today. AAPL and AMZN put in some nice moves so we will have to see if an earnings trade is in the works. The energy stocks continued their move as well, regardless of the bearish oil report today. See, I told you it does not matter. Money moves the market, not the news. Entered three new bullish trades today with small positions as the market looks overextended but can go on as long as it wants. Until the market is bearish it is bullish. You know the Street is powered by batteries! The ones in the energizer bunny!
BATTLES WON (PROFIT TARGETS HIT):NONE
BATTLES LOST (LOSS TARGETS HIT): NONE
SURRENDERED (TRAILING STOP HIT):NONE
THREE (3) NEW ENTRIES TODAY.