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It has been an interesting day. We opened big, and ran out of
steam in the first hour. Then basically out of the clear blue, they
got their act together and pushed us past the morning highs. In
fact, at one point we
All day we've been slightly red and here coming into the last hour
they keep trying to poke it into the green column. As I'm typing
this, we're up 4 on the DOW, down 2 on the S&P.
I want to clear up some
A long grinding day, with a lot of intra day wiggles. The market
is discouraging the folks that were convinced that QE3 will have no
benefit and trying to shake them out.
I on the other hand still believe that Banks have no where
Am I just nuts? Right now the popular theory is that QE4 is priced
in, we tried to attack the all time highs and failed and they
aren't willing to pay up any more for stocks. Well that could be
the way it plays out no doubt.
AAPL upgrade to the rescue?
What ever that dip was all about this morning they came back in
and so far proved that they were going to hold us up... so I did go
right back into CLF and I did nibble on some
They've simply decided to let the market sit today. There's no
volume, there's no excitement.
But that's not to say they aren't playing their games. Look at JNJ
which we stopped on today. It cratered from the open, took out a
So far... so good. Kinda.
Yes the market is up and yes it fought off some "after open
weakness". But once again the volume's not so hot and they are
still rotating sectors.
We weren't as prepared at the open as
Well that was rude. We took LNKD this morning and it quickly ran
up a full dollar a share. Then the air came out and it came all the
way back down. I stepped out flat.
The rest of the things we picked up
This has still been a very wishy washy day, with no really clear
direction. I did get a chance to pick up the VZ as it crossed 46.10
and it has hit 46.30. I'd really like to see it run the day and
Well I'd love to have something witty and profitable to tell you
all, but the fact is the day has been a wash. At one point we were
down 91 points, erasing yesterday's gains. Right now down 66, they
look like they'll pick us up a bit