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They couldn't do it. Yesterday's close was more telling than it
appeared. I needed to see the market close over those intra day
highs from a week ago and it missed. So today, they didn't really
even challenge it. By noon we were soggy and here in
The market has shook off the morning blah's and here we are at
2:20 with the DOW up 62. That puts it over the 14,025 that has
served as a ceiling for about 7 sessions. If they close us up here
today, and it can hold that
Another day of ...."what?" Consolidation? Sector rotation?
Resisting the pull of sellers, but not strong enough to push us
higher? All the above.
We're still in the "no mans zone". Today hasn't proven anything
"long or short". It has simply meandered around.
This reminds me a lot of last Friday. If you remember, last Friday
we had no real reason to rise and we put in a triple digit day.
Today we really have no good reason to move higher and we're up
over 60 points and reclaimed DOW
I've had several questions about the long term holds bucket so I
thought it a good time to present them. This is what we have in the
long term holds account as of today...
3000 shares of NOK bought at 4.05 No stop
For the most part we've been running in place for the past
several days. The market hasn't been willing to push higher, but
each sell off has seen them rush back in and bring us back to
"level " if you wish to call it that. The
This is really something to behold. Yesterday they told us Spain
and Italy were mired in trouble and we dropped 129 points. It very
well could have been the start of something ugly. So today on
absolutely no news, we gain 130 points and get it all
Okay, lets chat.
Friday we had a big up day. Granted it was a low volume "push" but
up is up and everyone was thrilled we broke 14K. Now today we've
pulled back down. But, as of 2:25 we haven't even really lost
A pretty funny open for sure. The non farm payroll report stunk,
hours worked fell, overall unemployment rose... and the market
jumped 100 points. Does that make sense? Sure it does. The only
reason we're going up is the non ending printing by the Fed... as