The Wrap 4/7/11


The market was shaken by another earthquake in Japan of the 7.1 variety, followed by a 5.2 after shock. The market sold the news, but then managed a rally as we approached the close.

Some momentum names had mixed results as OPEN rallied back, but NFLX didn’t fare so well. It’s  still a mixed market giving off mixed signals. Oil closed above $110 a barrel and a move to $115-125 now wouldn’t surprise me. I hope you still holding OIL.

If I’m right this market will have difficulties, massive difficulties.

Nothing new on the list tonight, but two charts  that look very healthy are SFLY and SINA. I have no position in either, just throwing out a couple of ideas. Be careful tomorrow, there are a ton of moving parts to this market right now and it’s Friday.

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