Bounce Back

Stocks rose from the opening bell and gained through the morning, with all 30 Dow components and all 10 S&P 500 sectors notching gains. Trading volumes were higher than in recent sessions, with about 6.4 billion shares trading hands. But that’s below the average for the year, a sign that many investors opted to sit out the rally.

Banks and other financial companies also pulled ahead, lifted by expectations that rising interest rates will boost bank profits.

Also giving a lift to the market were reports suggesting Greece and its creditors were inching closer to a bailout compromise. Elsewhere, an unexpected pickup in U.S. energy demand sent oil prices to their highest level all year, popping  shares of energy companies.

Today I sold 1/4 NFLX for +$88.00, balance of REGN +$18.00 and 1/2 CHRS +$1.80.

Here is a look at the markets so far this year, and the first half ends in a couple of weeks.  Remember when the year started? Seems like yesterday.

  • Nasdaq Composite +6.7% YTD
  • Russell 2000 +5.1% YTD
  • S&P 500 +2.2% YTD
  • Dow Jones Industrial Average +1.0% YTD

This market looks better, but the follow through day is important, so lets see if the bulls stay hungry tomorrow.

See you in the morning.

Previous Post
Join Us Now
Next Post
The Market Is Slow, So Play It Slow

Recent Articles