The Morning Morsel: No More Tepper’s

Posted by UpsideTrader
on September 28th, 2010

David Tepper is out of the way and has returned himself to the billion dollar inner sanctum that is Appaloosa Management. The market tried for a breach of te 1150 level yesterday , but was met with resistance. Charts are still on fire as we saw breakouts in big names like MELI yesterday. It’s getting harder to find the easy breakouts like a few weeks ago, but there are still stocks on the runway tat look like they want higher levels.

It is still up to the financials to help the bulls start a ‘second’ leg higher. The Euro continues to move higher and the dollar looks very challenged, that’s good for bulls…for now.

RIMM unveiled the “Playbook” yesterday and so far it is being met with the same excitement as when Ford introduced the Pinto, the stock is up 30cents in pre-market. I’m thinking AMC’s Gremlin too. I don’t know, but watching RIMM’s President stroll the stage yesterday was uninspiring. It’s just so ‘not’ Apple.

Some very short term names that were monetized yesterday on my Premium Site were: DNDN+8%, SWKS +7.7%, EXAS +17%, RIG +4%, ASYS +9.7%, MELI +3.0% and VHC +13%. Stop on by. Request performance by e-mailing me at upsidetrader@gmail.com

Have a great day trading.

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