Wednesday, April 16, 2008

Nice Rally

The ag stocks just exploded again. MOO,MON,POT,MOS are off to the races. Just amazing, what a group and IBM just reported a nice number. The stock is up about $7 on the day now. I guess oil at $115 doesn't worry anybody for now, so the bulls are having their moment. We've been to the alter before with these reaction moves. We still need to break through $SPX 1395-1400 or the bulls aren't scaring anybody. Maybe tomorrow. The market is either very forgiving or has short term memory loss as GE and WB seem to be distant memories. A couple of positive earnings reports does not yet make me a believer. I didn't do much today, as the market had the gap up, traded sideways for most of the day and then the strong close. EBAY just reported -looks a little soft


Stewie said...

the bulls spoke today i believe. the path of least resistance seems to be up, for now anyway.

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I am a former hedge fund manager, broker and capital markets dude who now trades for his own account. I love what I do. I will try to post some stocks and an occasional chart that looks attractive for entry.I will also try to point out the idiocy of conventional wisdom and the lack of value added by the mainstream financial media. These postings should not be viewed as recommendations.