Thursday, August 11, 2011

Nice rally

Indices retreated in pre-market to the late Tuesday lows (S&P near 1100), only to rally from there on. Market made a few nice intraday bases and everytime the breakout was accompagnied with decent volume.
Market briefly stopped at the Tuesday high at 1170, but then took it out eventually. A late sell-off brought us back to that 1170-level. Not a bad day for the bulls and potential for some follow-thru tomorrow. The stocks mentioned yesterday performed very well today and look good for more profits the coming days. Except for SODA that got punished hard (-34% OUCH, that's why you better not hold stocks thru earnings...).

Gold and silver pulled back today, the opposite of what we saw yesterday.
The Swiss Franc (CHF) dropped big (+4%, as much as it rallied on Tuesday) after Swiss National Bank's liquidity measures because CHF is overvalued.

Edit: MCP just came out with earnings numbers after hours, stock now up +10% since yesterday's close.

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