..What can we say?
Things are just peachy, you can't say it any other way if we're all on the same DJIM page!. As the trading day kicked off, the indices gapped lower and so we got more of the pullback we were pulling for here. On the other side, our side, the $CRX was gapping higher signalling our commodity laced list was going to be just fine for possibly another day. Slowly, but surely the list was getting crowded with green in the morning and we were getting 2 for the price of 1 special. A pullback to ease the effect of the recent rally, an opportunity to test supports and eventually give us more plays than just the commods' in the days ahead. In the meantime, we're riding the commods' to what can be a test of recent highs in the $CRX 970's and eventually possibly switch over to the rest of the market when/if the commods' are running on fumes with cash in hand. But, we're not waiting for fumes, we're taking profits on strength as this carries on. It could be the best of two worlds if the $CRX stalls ...out of one area and into the another to catch another move up somewhere else. Maybe the stock planets will line up this way, maybe not... The SPX ran a successful test of the recent break point of around 1397 and end of day was knocking close to last weeks highs. So, technically its all fine and dandy. We already knew CSCO would be somewhat irrelevant this Q, MSFT proved the mkt was only concerned by what some still consider wrongly MSFT peers...IBM, GOOG, RIMM. The only thing that mattered is that CSCO report would be clean and on the surface it seems that way, judging this book by its cover might be enough to get through this and the fact CSCO isn't the holy grail, but if you look under the hood every primary driver of this company is experiencing slower order growth. Oh well, not our problem to decipher, we're just going to react to the markets voice and take it from there.
Let's not forget the importance of any trading day and that is take your gains, slice and dice, do whatever you need to pad the accounts. Not everyday is gonna be a SuNHY day!.. The good thing is no matter how extended some of our listed puppies feel, we've had new plays to toss out that are giving potential points galore quickly the past few days....ANR up to 5 (ANR, likely to become #1 coal here...alert section)( SNHY 5, MVL 2+ in just hours. There's nothing like a hit and run when you beat the herd and get in early, you then sell to the herd and regroup and get ready to buy a pullback...recycle
a few blurbs this am ......strong eps from a few of our recent O&G plays...RIG, XCO and CLHB. CLHB on the surface looks best opp', but remember being the first in a stock following eps could leave you stranded on top if you buy the gap. We're just reading the shiny surface (headline) here, not whats in the report or 9am cc. The shippers could be worth a strong look today. SOHU cut at Deutche to hold. Funeral reception for good ole buddy, SNCR is at 930am.