Market Wrap 10/31/2011

Well we had a europe positive news cycle for a couple weeks and market went up…and today amid some fresh concerns over italian something or other (bond rates? who knows) and the Greek PM saying he will put the european unions agreement up to a referendum.  Not sure how that ends up the Greeks are notorious for being stubborn and will burn their whole country to prove a point if your ever curious on how a country smaller then the size of detroit ended up with hundreds of billions in debt read this article by Michael Lewis in Vanity Fair The Fall of Greece .  Today even though the market was down big didnt have the feel of it.  We gapped down at the open and went sideways for pretty much the whole day till a last hour slaughter took the market down.   The s&p ended up breaking the 200dma today which is never a good sign.  It doesnt necessarily mean that we start free falling as both the Dow and NASDAQ are at that level.   1 day doesnt make a trend and rarely signals a reversal. As always follow through will be key.  With more earnings, european news, 1st of the month trade, and a jobs report…we will be pretty busy dodging landmines and there will be catalysts all over the board.   As for us in the boom boom room  we killed it due to some adds on friday in REDF AND SIFY  both at one point were up over 50% and we continued to add today even late in the day.  Along with a killer trade in Mobi which we entered at 5.35 and hit 6.15 in an hour  it was a busy day of booooms.  If you like to learn and make money at the same time come check us out in the

boom room up or down market we have been very consistent in brining in the heat!

dont forget to checkout @mb_willoughby ‘s blog on how she does her stock scans with a video she made its really good especially for beginners as she uses all free tools and finds amazing setups everyday.

Happy halloween….trade safe tomorrow even though we had a nice run the past few weeks the volatility is with us to stay and can blow up your account in a hot second.

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