We finally broke through strong psychological and technical resistance levels (1300) today and even the financial stocks behaved well. Gotta feel good about that, right? After 3 days of end-of-quarter window dressing and calming over the Greece can-kicking of their debt down the road, what’s next? Oh, let’s not forget that QE2 is ending and we’re about to enter earnings season which will likely show some misses thanks to the disaster in Japan. In summary, don’t become complacent. Focus on your strategy.
I’m still keeping the list small.. tomorrow is Friday ahead of a 3 day weekend and we have a lot of economic data in the morning that could spank us around a little. Of course, if the jobs numbers are strong, we’ll likely see a 4th up day and all the bulls will be happy. Next month will be very interesting – earnings, Greece and I think China, will lead the way.
Stocks that triggered long today from the Watch List:
SPN at 36.40
KEG at 17.50
LAVA at 8.05 – may have been a head fake here.
New to the list: