Fed did cut 50 basis points. Markets rallied 200 points on the news and then believe it or not the Dow actually closed down 37. OPPORTUNITY could not get better than this.
Today they are up again- triple digits on the dow -up 150. Selling on a rally will help to raise cash. In our trading scene- DRYS broke out significantly. In at 50- sold at 74 today. PRGN in at 14- sold at 18.75 today. These are great holds but I will move on to the next beaten down stock. Stay tuned as I look for another winner.
Google reports after the bell. Me thinks if its not bad this one goes higher- from 550. But I dont play with such hi-fliers- ! But watchin its price action will help to determine if the sentiment has changed to positive. AMZN was down big time after earnings last evening -almost to 60- its up to 74 (up 2 and change) today- so those who sold off after earnings- lost big time. It pays to not panic.
Job numbers tomorrow is the only hurdle after which I see DOW 13000, Nasdaq 2450 and S&P 1420 next week. WE shall see. Meanwhile if the markets misbehave- take it as a chance to get in one final time before we begin the steady recovery.
Take a look at homebuilders - up for the month- looks like they hit bottom. What more action do we want to see before we get bullish? Beats me...
Meanwhile
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