Friday, September 28, 2012

Gaining Despite Negative Headlines


Stocks logged their best gains in two weeks as a Spanish budget plan eased European debt fears and China moved to add liquidity to its banking system. Investors ignored a plunge in durable goods orders and downwardly revised Q2 GDP growth. Crude oil rebounded 2.2%; Treasurys fell as an auction of seven-year notes posted the second-lowest yield ever. NYSE gainers led losers three to one.

I closed my AAPL short for a small gain and rotated into AMZN at 255.55 on the opening morning spike.  My shorts are short term and tactical if we continue to see bullish action on weak economic headlines.

We bounced at the bottom of the sp500 rising channel and the talk of Chinese stimulus also drummed up prices yesterday.

SDL went into trading halt with further pending announcement regarding the hanlong bid.  This must be like the 5th time it's been on trading halt.  I entered the position at 28c and the last trade price was 34c.  It's probably the the board will recommend the 41c bid and might see a price spike to 36-38c on 2nd OCT.