Two Ideas For A Strong Market
A New Year, and green on the screen! (And curbs are in to the upside, no
less.) If we hold these levels, it will be the best opening-day gain for the
Nasdaq since 1988. After a gap up and a good ISM number, we had lift-off big
time to the Dec. 26 highs. The S&Ps are trading in a Slim Jim near these
levels, just under its 2.0 volatility band.
Two possible ways to play this afternoon are:
Buy a breakout of the Slim Jim in the Spyders
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Or, try the Diamonds
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Resistance will be at the 12/16 highs, which is also near a .50 Fib
retracement from 12/2.
The bond market is slumping today because of the better-than-expected ISM
number. One way to play bonds is through the Lehman 20-year
IShares
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rally in these shares might be a good swing trade short.
Have a good afternoon.
P.S. and Happy New Year!