OMGIF! A nice recovery was had by all and right off the bat I want to show you something you might have missed. Here is the INDU over the past two days - can anyone spot the common feature?
That's right - both days began with a cross over! Yesterday the cross over said - "going down" - today it said - "going up". Could anything be more obvious?
I sold KNOT for a small profit, a bit more than a happy meal but I'm not going to eat at Ruth's Chris tonight either. Actually the Bride is in the kitchen whipping up her famous Italian sausage, meatballs and spaghetti, and the entire house is in a garlic stupor.
Anyway I'm back in AKS because it seems to want to continue to go up from here and the bulk up in GGB and BGG yesterday afternoon paid dividends today and then some more. I also made a play in AV again and I'll share that with you in a separate post. We'll run through that trade for you and I'll show the new folks how I use QuoteTracker in my daily business. Not that you would do it the same way but it might get you started on an easy path.
The three Amigos are signaling that all is right with the tech world. GOOG made 5 and change, AAPL made 1 and some and MSFT, the most loved stock of all time, second only to GM, returned 31 cents for its loyal followers. I'm not sure who doesn't own MSFT who needs to own MSFT and why they would pay 31 cents more than the going price for the privilege but as Barnum said - there's a sucker born every minute...
The INDU ATR made a beeline back into the 90's today and that is goodness because it means - all together now - the rally will continue.
My model portfolio started a nice recovery and brought back 2.17% to close at 19.89% and the benchmark still lags at 7.39. For those of you who don't have calculators that's 12.50% in alpha off a portfolio that I threw together on February 28th in about 15 minutes time without regard to fundamentals, sector analysis or anything other than pure TA. I gotta ask - did your mutual fund make 12.5% alpha in the last 2 and a half months? Or was it closer to the benchmark?
This guy remains below -0.005% and that is OK - and even though I sound all chipper and happy I was kind of hoping for another down day or two.
The VIX remains in neutral and the up/down ratio printed 68%.
I think yesterday was an aberration, today is just an aftershock, and all of this means we probably go down now for a couple of days. Don't be surprised.
The coin says ... tails - down also - wiseass coin is reading this and then making its predictions - that's just not right.
And again we both hit it today so the score is now Marlyn 34 - 29 and 13 and the coin is 37 - 25 and 13.