Triggered Stocks
None
New Picks
None
Portfolio Review
WFM +1.6%, ACHN +3.1%, FB -1.5%, QIHU -1.5%, MDVN -0.3%, BABA +3.2%, GMCR n/c, BIIB n/c, EPAM +0.6%, AVNR +0.3%, ACAD +0.7%, GIL -1.5%, SPLK -2.6%, NBIX -2.0%, AMBA +7.3%, OVTI n/c
Upsidetrader’s Commentary
For the day the SPX/DOW were -0.10%, and the NDX/NAZ were +0.20%. Bonds lost 3 ticks, Crude dropped $2.35 and broke $80, Gold slipped $5, and the USD was higher.
The big news that sent stock soaring Friday was that 5-4 vote at the Bank of Japan to launch into yet another aggressive stimulus program that will use millions of yen (roughly $100 million per month) to buy up government bonds in order to prop up Japan’s lackluster economy. News of this massive new jolt of stimulus sent stock markets around the world soaring, and it allowed the U.S. stock market to hit new highs and basically erase the big October swoon that had rattled investors so badly through the middle of October. Bulls were thrilled that October somehow avoided becoming a “typical” October even though it certainly felt like one for a while.
With October out of the way, we have that traditionally-strong November/December time of year waiting in the wings, so you can bet that the bulls are hoping we see those traditional mainstays of a Thanksgiving Rally, a Santa Claus Rally and a New Year’s Rally kick in as we head into 2015 as well.
See you in the morning.