Friday, March 25, 2011

Tech getting exhausted

Markets put in another rally in the morning but reversed midday. Tech stocks gave back most of the gains, which resulted in the Nasdaq ending right on it's 50MA. Most major indexes put in some kind of inverted hammer, not a bullish sign. A small pullback to the 20MA would be healthy.

Stewies trades entered yesterday, all worked well today. PCX for a small gain, AKAM and RAX for 2% and 3%! Late in the day, we got in IAG, hoping for a bounce in gold over the weekend.

Only one daytrade, SRZ. In when stock bounced closeby the 9EMA and took out the ORH (opening range high). Took partial at R2 and some more under the $12-spot. Got stopped out on the remaining shares. 

Very nice end of the week, just like last Friday by the way. It's starting to get my favorit (trading) day of the week!

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