Playing Offense With Some Defense

Posted by UpsideTrader
on April 6th, 2009

I don’t know if these names were one day wonders or if there are more good things to come. Certainly they had a nice day today. The charts look pretty nice and volume has certainly been picking up. I wouldn’t chase, but they should be on your radar. I traded RTN for a nice gain but really didn’t do much else and it was my lowest volume day in a year. Mike Mayo came out negative on the financials and he is a respected name, but Meredith Whitney, who spoke later on CNBC didn’t seem as near term negative, although she did say be careful after the financials report earnings. I agree with her thinking and her timing in that regard and think the shorts will be spectacular.

The bulls pulled a stealth rally today and the day goes to the bulls I think, even though the market closed down.

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