Bulls Won’t Quit

{+++}Hey guys.

Net on the day the Dow was up 37.11 to 9580.63, with a 9459 low. The S&P 500 was up 2.86 to 1030.98, with a low near 1016. The Nasdaq 100 was up 3.97 to 1640.97, and that was 29 points off its low.

Advance-declines worked their way back into positive territory by 240 issues on New York but remained negative by 110 issues on Nasdaq. Up/down volume was better than 2 to 1 positive on New York on total volume of a light 1.1 billion. Nasdaq traded 2.1 billion and had a 13 to 8 positive volume ratio.

AIG was a big winner for us and I hope you followed the lead. I put out a a 2/3 sell and a complete sell later on in the day for a hell of a profit, believe it or not the pattern still looks OK but enough is enough, leave the next five, ten points for someone else, I don’t want the risk. The stock I believe did a reverse split, and in real terms it is really $4.78, even Hank Greenberg doesn’t want the deal, and he built the company, don’t forget, the government owns this one, unless I’m missing something, I’m happy with the trade. Time to move on.

Starting next week, Stocktwits is introducing some major stuff, you guys will be direct beneficiaries, I will keep you posted.




OREX-OVER 8.90 THEN 9.47

EXEL- 6 or 6.10 STOP 5.70


AXL-  6.40, STOP at 5.50

CNO – 4.20 level stop 3.75 level

AIG 35  ( exploded today)- we are OUT, caught about 9pts.

RMBS 19 (stop 18.40)

BCRX 10.40 STOP 11

AMP-29.92 29.25 (unfortunately stopped by 6 cents, it was tight, pattern still good, watch for strength in financials for re-entry)

CTSH- 35 STOP 34.25

QSFT- 16.25 stop 15.75

ACAD- 5.25 stop 5.20,

QCOM 47.60 stop 46.25

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