Indices barely budged from HIGHS....NICE !!!!

Indices were down from .08% to .31%.....which is very impressive considering we have come a long way from 666 in S&P 500.....

Internals were weaker than closing numbers as listed below :

Down volume led by 9 to 5 in NYSE & 4 to 2 in Nasdaq

Declining stocks led by 17 to 13 in NYSE & almost even in Nasdaq

New Highs remains impressive 271 in NYSE & 144 in Nasdaq.....

So..what is the take away from today's number......Friday's close will be a better indicator about the strength of this market...a down close on Friday may not be such a bad thing.....market needs to catch its breadth for few days......

AH PALM ER was better than expected especially PRE sales numbers were a blowout......PALM is guiding lower in sales & announced a secondary of 16 million shares.......PALM Down AH 2.98% on a AH volume of 2.26 million.

About my strategy going forward...i feel pretty good after doing a covered write on POT..which gave me $5 per share already and have until October the 16th to figure out what to do about my covered write......also sold my odd lot of POT @ $97.02 & got $95 valuation on my covered position.....

I will be holding RIMM going into ER next Thursday...as I feel pretty confident that RIMM will BEAT & will guide HIGHER than consensus.......

About my other position...I feel pretty confident that Gold & Silver will outperform while market MAY correct......

AH Futures are RED...

AH Nikkei is Down 1.39%

AH Gold is UP 80 cents

AH Silver is UP 3.5 cents

AH crude is Down 17 cents

BLOG does NOT give buy or sell.

Saleem