Wednesday, April 20, 2011

Bulls gaining ground

Futures kept going higher yesterday after-hours and today during pre-market which resulted in a big gap up.
The tech sector was leading the market thanks to good earnings and a positive future view.
The Dow made new highs for the year and is leading S&P and NASDAQ.

Gold keeps going higher, still outperformed by silver.
Oil surged 3% ready to attack previous highs earlier this month.

After the semis-action today, I sold my SMH-puts. Not expecting much downside here, after such a strong close with big volume and a higher high. Some consolidation or a small pullback would be nice though.

I sold 1/3 of my DANG-position pre-market with a 10% gain. I will keep the rest with a loose stop, giving it some room to wiggle and I would like to see it go to 28-30.

New positions (with loose stops); GLNG, VMW, CRM, CTXS and ROK.

No daytrades today.

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