Before the start of trading Friday, we headlined the Journal, "To play or not to play?"...it is pretty obvious which way we turned before the market ever did as we fired off alerts on BDX, MEE, IPI and MTL. Basically, we went back to the well of what has brought us here near 13000 on the DJIA, this being primarily a Ag-Chem, coal and steel stocks. So for the 2nd straight day, the market put in a nice reversal and that must've been very disheartening to the Bears heading into the weekend. This signals a healthy market working its way up. Unfortunately, some exuberance over the '13000' maybe curbed as we all start looking to hump day Wednesday and the FED move. As we all know trading before a FED decision is not the most exciting thing out there, but this time at least we have 13000 in reach and the market will probably push towards that psychological level before the decision. If we get this trade, we will use it to bring down our positions, simply sell into it. That is the simple message here to start the week and really the only one for now.
We have some interesting earnings this week, most notably FSLR and X to watch over.