When every walking ,talking investor/trader was CERTAIN that "bear market has taken HOLD....the money train started to CHUG along nicely "whistling $$$ past BEAR 'S GRAVEYARD "...
NEVER be so SURE of anything on Wall & Broad......the discounting mechanism ALWAYS works......there is such a thing as "markets being completely WASHED OUT"...thus the most powerful Dow rally in almost a year.......
S&P was the star index and Nasdaq was the laggard......
Advance decline on any index was nothing to write home about....on Nasdaq decliners actually held the lead by 179 issues......
I took advantage of the slump in STP by adding 40% more to my position..@ one point STP was down $1.56...I added @ $37.27...wanted to buy above 50DMA...STP erased all the losses and closed UP 4 cents...a nice V REVERSAL...bodes well ...going into earning on th before open.
I also sold UXG @ 3% loss...the purpose was to PLUNK as much in STP today......
I ended UP mildly positive.......
My portfolio is highly concentrated in four stocks now....RIMM,STP,SNDK & SNDA.
AH WYNN is the star...UP $17.....
NVTL is UP $2 on good guidance....
MR UP $3 on blowout ER.....
SINA is down $2 on softer guidance......
Looking forward to a follow thru in markets..as it is BB tuesday.
BLOG does not give buy or sell.
Saleem
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