Morning Market Look, Party On

All good in the hood. Even with $IBM screwing the pooch yesterday, the $DJIA managed about a 130 point rally off the lows. I don’t care how you spin it, that’s uber bullish.

The Nasdaq, Russell and S&P tagged more highs yesterday, so the only major index that hasn’t is the Dow. The Dow Transports even put in a new all time closing high yesterday, so expect the Dow 30 to put on some points soon.

With obscene risk appetite back on, sectors like biotech ($IBB) should run to new highs. $CELG did yesterday and $BIIB looks ready any minute. I highlighted those two along  along with $GILD the other day.

Shipping stocks ($SEA) look ready to go. See what $STNG did yesterday. I’m long that one as well as  $BALT.

Semiconductors ($SOX) put in highs not  seen since 2007. Hot group, $SNDK ripped on a good report.  Amazing action. Take a look at $IM

Names like $SPLK, $YY and $VIPS can stay hot.

Have a great day. Come on by for a free trial