Friday, March 9, 2012

Small Caps In The Picture

Most people were waiting for the job report, coming out one hour before the opening of today's session. The numbers weren't bad, but no big surprises either.

Small caps rallied much harder than other stocks, the RUT was up >1.5% while other major indices gained about 0.5%! After a small morning rally, the market traded sideways for a couple of hours. Coming towards the close of the day, prices started to pullback somewhat.

5m-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Metals and the euro got hammered before the open, as a reaction to the NFP-report.
Oil initially traded lower as well, but got back to earlier levels in no time.
When indices rallied higher, so did metals and oil. But not the euro, it dropped and couldn't get of it's lows.

Earnings on AIS next Monday before the market open, so I sold the entire position today (average: 2.94 for a gain of 6.48%).
Holding on to BONE, LNKD & INSP. I sold small parts of BONE & INSP.

Articles for tonight:
The One Industry That Never Stops Adding Jobs
Two Years Since The Journey Began

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