The Wrap 2/11/10

{+++}It was a solid day for stocks, metals and materials led, some oil stocks were up even though crude was slightly down and the financials took the day off. Technology had a good day and was led by Apple which was up about about 2%.  Apple though is rising on light volume and could be a short at the 50 day moving average if volume doesn’t improve, that’s the $200-202 level. I’ve changed the level for a short here on Apple so please see the P&L for the adjustment. I have a stop slightly above the 50day MA, I like the risk reward, if I’m wrong it’s about a 2% stop.

RSX moved up today and I moved the stop just a bit. WFC consolidated and I still believe our retail names will fail.

I had two names on twitter last night, XME and UYM as longs, both popped over 4% today, I didn’t have a chance to blog last night so I hope you caught a little of the move.

Let’s be careful here. Remember, the market was breaking down BEFORE the fly in the ointment that is Europe set in.

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