Thursday Market Wrap–New Name

{+++} For the day the SPX/DOW were +0.40%, and the NDX/NAZ were +0.25%. Bonds gained 17 ticks, Crude was flat, Gold rallied $15, and the USD was flat.

The market opened higher today, dipped, and then made new all time highs nearing the close. With the SPX trading above 1786, it has cleared the through 1779 level, and has now set its sights on the 1828 level.

One new long name tonight is ZNGA. It is a piece of crap and I think its stupid, BUT the MACD and relative strength (RS) looks good and is turning up.  The market likes these things now. I think it can get to 5.  Buy the 4.07 level, but only with exceptional volume.







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