1220

• Posted by UpsideTrader
• on October 13th, 2011

Google $GOOG knocked it out of the park after the close, so that should bode very well for the market tomorrow, but specifically technology. Yes I know Fitch put the toxic banks on “negative watch” after the close and that  may bring out a  wet blanket to some degree, so we’ll have to see.

Popping through yesterday’s S&P high, ($SPX )and closing above that level, would be very good for the bulls.

Right now we are doing our best to follow the money and subscribers are long $AAPL, $WLT, $QCOR and we killed $MELA the last couple of days from the long side.

A convincing move through that 1221 level could kick off some buy stops and get you to the 1240-1250 pretty quick.

The financials were either just resting today or caught a bit of reality as $JPM failed to impress. If the “Cadillac” of the financials was soft then what can you expect from $BAC or $C? Don’t forget that $GS and $WFC are on deck too.

Earnings should bring some volatility over the next few weeks for sure.

Everyone already forgot about Alcoa. Now we wait.

 

 

Follow @upsidetrader

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

blog comments powered by Disqus