Typical day yesterday after yet again another opening gap reversal we had a pomo fueled bounce right back to the 50dma. todays gap up should help us clear some large levels of resistance the 20dma and 50dma. Right now it looks as if the SPY is up 1.3% premarket, USO (OIL ) IS UP 1.4% ALSO, GLD gapping up .4%, and SLV is on a parabolic run up 1.6%. The earnings reactions have been crap for the past week seems the laterst batch was much better received lets see if that can keep a nice bid under the market today. with this gap up I plan n selling some swings ive been holding last two weeks. Be careful chasing opening gaps this is a big one….remember we have had 8-9 opening gap reversals last few weeks. The key will be when we tap back intraday do we hold levels of support. Keep an eye on spx 1320 for intraday support and for daily support the lows 1295 on the spx im using as my bottom in the market.
HEY! HOW about them indians!! REDF officially a 50% gain from the call by bullsonwallstreet last week! I plan on unloading most of my swing today
here are some stocks im looking at