Record breaking day for all indices.................DOW all time HIGH close.
Nasdaq & S&P 6 year HIGH close..............
Condolence to fast money guys who told everybody to SELL everything yesterday.
Eric Bolling was short refineries 2 days in a row ...and they are in record HIGHS.....AGAIN today !!
Not a great strategy to be a believer in doom & gloom...........
We have NOT come too far too fast..............
It is a very gradual & orderly ascend to NEW highs...........
We are 50% off from Nasdaq All Time highs of 5,000+
Majority of world indices have made series of NEW ALL TIME HIGHS............China,India to name few important ones.
CSCO went through RESISTANCE of $27 + with very high volume of 58 million shares almost 10 million more shares than average...............next resistance is $28.85 which was reached 4 months ago.....nice base building for 4 months.CSCO closed @ $27.67......P&F chart says $32.50 as the next target.
STP showed strength and closed @ $37.29 after pulling back to low $35 area yesterday....$41.50 is the next target to go through.STP has been building a solid base for 13 months below all time high.
Earnings AH were mixed NVEC the Nanotech company beats estimates handily and is further UP $4.64.
LVS & JDSU were greeted with negative reaction LVS down $3.40,JDSU Down $1.64.
Tommorrow should be a follow UP on nasdaq...which was very strong today after being WEAK for several weeks.
GOLD & OIL stocks should be strong AGAIN on thursday.
Good luck on your trades.
BLOG does not give BUY or SELL.BLOG is for educational purpose only.
Saleem
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