Wednesday, April 27, 2011

The rally continues

Today there was special attention for the Fed's press conference. In short: the interest rates stay near 0% and the Fed expect the economy to continue to recover. Furthermore, the 600 billion dollar bond buying program will end in June (as scheduled).
The market reacted positively by making new highs. The dollar however continued to go lower.
Gold reversed higher, but the gain was pale compared with the +6% gain silver achieved.

I got stopped out of DANG, remaining part was sold at 24, average gain +6.70%.
I seem to do almost everything wrong, can't get a break, even with the tone of the market in my favor...:
Raised SL on VMW and got stopped out because of that: -4.17%.
Same for WLT: -2.85%.
I also got stopped out of CRM: -4.83%.
I sold BMRN early in the day because of earnings tomorrow: -1.02%. Had I waited till end of day, it would have been a +1.36% gain...
Got out of COO, should have sold some above 74, got out now just above BE.
Still holding GLNG and SNDK.

I got in a ES-future short trade when the market hit the 1346-1347 resistance. Got out for a small gain, after which the market reversed to new highs. A small positive note I guess...

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