The Lull May Be Over

Janet Yellen, our favorite little lawn gnome and financial engineer extraordinaire, came out dovish today, putting to rest any short term rate hike anxiety.  As a result, the market caught a bid.

It seems that the animal spirits stirred today, and unless its just a knee jerk reaction to Yellen’s comments, the market may want to make a run to test some highs. Its hard to fight city hall or the fed.  Still a follow through day would be good for the bulls.

Today the QQQ finally broke above its 200 day moving average.  Short term target could be 111.50. The Nasdaq has lagged big time, so if it can continue, that would help the overall market.


I am adding 3 names to the P&L tonight. Only buy at the trigger price.

EW- Buy the 90 level.


SWFT– Buy 18.50


I’m also watching NFLX, YY, FPRX and YNDX as possible longs.

See you in the morning.



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