{+++} The market may have closed fairly, flat but I think most traders on the chat room felt like the market was up a few hundred and back again at one point. The market struggled to break out all day at points , but never really took off although certain sectors showed good strength and many stocks bucked the boredom and really set up well
Our new names did particularly well and many of the names from last nights video triggered. Our stocks were cruising along when all of a sudden it hit the tape that one of the ratings agencys downgraded Portugal. The market knee jerked a little, could have sold off more, but didn’t. About an hour later Moody’s took back some of the sizzle and made the footnote that it may be temporary and that it wasn’t as dire a situation as Greece. The market liked that news and some of the stocks that stalled tried a bit of a rally into the close. The market seems immune to bad news again which is bullish, but I hope it lasts.
Please check the P&L tonight as I have highlighted the stocks that triggered today. There were no exits today. I added one name, LNG as long during trading today and it is listed on the P&L.
Let’s hope the bulls can take the hill tomorrow. We are getting overbought and a pullback could be in the offing so use caution here.