Monday, February 2, 2009

Update

GHL rallied all the way from 55 to 70 over the course of last week. DV had a nice spurt but then came off pretty hard. Mid-week it started acting terribly and was down multiple days in a row even when the market was rallying. It couldn't gain any traction at all. LO has started failing after stalling at 62, but I don't think it'll make it back down to it's previous base.

The market is treading water for the most part. The broad market opened lower today, but has been holding firm here and is moving slightly higher with the Nazz actually showing relative strength and holding positive. This will be three down in a row and looks like it may be a good place to buy for a quick trade. It's not breaking lower, so there's a good chance we might see positive today or at least move close to break even on the S&P. A day out doesn't look so bad either.

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