The Morning Morsel-Market Hangs In

U.S.S New York-built from the World Trade Cenetr
U.S.S New York-built from the World Trade Center

The ninth anniversary of the 9.11 tragedy is two days away. Here is a great picture if the U.S.S New York, built entirely from pieces of the World Trade Center, notice the twin towers.

The bulls whipped out a can of moxie yesterday and shook off European worries for the day and took things higher. Most sectors participated and the financials (XLF) rallied back from their pathetic behavior the day before. Material’s and mining (XLB & XME) acted better, but not great, but both ETF’s look to be on the verge of a breakout on the daily charts. A weakening dollar would help the break out possibility. This is also the area where that effort could be turned back.

The 200 day moving average resistance at around 1113 is fast approaching for SPX, so that is where we could run into some difficulty. Another sell order got slapped on RIMM this morning. There are many sell orders on RIMM now. Contrarians love this stuff, I’m not so sure.

Yesterday was a phenomenal day on the Premium Site with 12 winners and zero losers that were either partially or totally monetized. Almost all of these were held for less than a week and 20 out of 24 winning trades for the month of September.

Some names from yesterday include: AMLN +5.2%, DTV +3.4%, ADTN +2.5%, AMT +2.1%, TIBX +4.8%, KRA +5.3%, GMCR +3.3%, HLF +1.6, NZ +12.0%.

If you would like a copy of September’s P&L just send me an e-mail.

Have a great day. I will be live on today at noon.

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