We got some followthrough, though the Nasdaq lagged quite a bit. It's always interesting when you see changes in leadership, even if its short term. Today the financials led us higher. Gold did indeed get smacked down. Oil down early but after inventory #s squeezed like a mad beast and was up over $4!
The market still managed to stage a nice rally. We had a VERY nice day. We caught FSLR for an average of around $5.50, we got AAPL short for about $3 into lunch, we got out of our MER calls from yesterday's Option Trader play for a very nice gainer, we got X for about $4, we got a few others for nice gains, and we had 1 loser early on a stop out in GS for about $1.50 loss. ICO our small cap monster and Option Trader play finally starting to motor here, and TIE which I mentioned here last night got a late push. We'll see. I also called SOLF and CSIQ after hours on FSLR earnings. I think they should both gap up nicely and perhaps squeeze to the upside. We'll see but I think low risk entries were had by anyone after hours in the chat room who played them. As far as Thursday goes, it'll be interesting. This market is truly psychotic. And, it is truly a TRADERS market and nothing else. It gets pushed up and down on mere whims at this point. I still think its a bit early to get back into the financials short as we could get a further squeeze up. I hope so. I would love to see the S & P at 1350 area as that would be the perfect short. Get the ER to our 735 target and same deal. One note, GRMN, on our TOP TEN TECH SHORTS list proved us right so far by getting cracked, the puts I mentioned in the class already up well over 100%! Now thats a nice instant gratification! Watch GOOG and AAPL on the next round of selling. They both look very vulnerable. I would like to get GOOG to push to $500 area for the best short entry on it, and with AAPL get it to $175, if it can get that high and I'll be salivating. In the meantime, let's enjoy the ride, a gap down again is buyable more than likely. We've had 3 trendy like days in a row, its very very rare to get 4, so chances are we'll be whippy most of the day. I don't have much of a strong opinion on the day here, I think its likely to chew ya up if you overtrade, so hang tight and pick your spots, please. Like I said, I do like CSIQ and SOLF if they squeeze for a trade only. They both have earnings upcoming and after FSLR blowout chances are they will squeeze pretty nicely here! We'll see soon enough on all! RULE! Waxie