Tuesday, July 14, 2009

Keen Sense of the Obvious

Click chart to ENLARGE.

The "easy" trade was selling early enthusiasm, but it didn't reap much benefit either.

  • Breadth is mildly positive (+1000)
  • Goldman is still in the red (sold my call spreads for lunch money gains)
  • BAC is slightly down as well...sold some calls and repurchased cheaper
  • TBT is up unspectacularly
  • Losers: FSLR (long a little via calls on a mean reversion/Gann number trade), POT, VWDRY
  • Winners: CIT, PCX, BNI, CPO, GOLD
Overall on the heels of yesterday's action, today is more of a win for bulls than anything else, having not given back much if anything.

The 'tells' of the market have been Crude, the US dollar, and financials (that's news?).
Here's the watch list I came in with...doesn't make it right.

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