The picture above is of my wife’s brothers backyard after Sandy. Over one hundred homes actually burned to the ground all around him, and hundreds more homes can’t be occupied. That picture was taken in Breezy Point, NY.
The area that I live in (about 50 miles away) survived, but just a few blocks away, homes were dragged into the Atlantic and in many cases, just broken to pieces from the force of Sandy. I haven’t had power since Sunday and probably wont for as much as another week. No one really knows how long, but I’m not complaining, we were lucky.
I have been running things, believe it or not, from a wireless Verizon card, so I am able to get internet access when it feels like working. Actually it works pretty well. As a result I haven’t been in the chat room. This is probably the longest I have ever been away from you guys and it has only been a couple of days since the market re-opened.
My plan is to be back tomorrow.
The market had a good day today, and I think it’s going higher. The S&P is running onto some moving average resistance on the daily chart. As you can see, the 20 and 50 day is right above the level the S&P closed today.
AAPL still acts poorly, but I am starting to see many charts that look very attractive again and we will get to that over the next couple of days.
It has been a long week and I hope all you east coasters remained safe. I also want to thank the folks who reached out to see how I was doing.
Have a great night and I will see you guys tomorrow. The P&L is updated and it looks like some names triggered.