It outta be interesting tomorrow. Expectations are way high that this employment report is gonna show 200k-400k new jobs, even tho all of that is simply due to the census hiring by the govt. The ADP report on wednesday gave a warning sign by coming in with -25k, what a surprise, but the market basically ignored it. On the other hand, tomorrow could be a win/win for the bulls. If the jobs number is hugely positive they will celebrate that the recovery is in full gear, if it comes out less than expectations they will celebrate that the fed will have to continue quantitative easing. At any rate since the damn markets are all closed tomorrow nothing will happen till monday. I HATE HOLIDAYS!
Meanwhile.. all my systems are on the market bullish side so if it continues up, maybe these stocks will hit their targets and be out. I see the inverse ETFs starting to base in here, setting up for a major pullback. I'm really anxious to see how the systems deal with all this. Two stocks that I shouldnt have bought are RINO and KONG. about $3k losers. Number 1.. Kong gapped up huge after a huge up day, I should never have bought that open. Number 2... my new filter.. looking at the Linear regression curves on weekly basis to determine up trend or down.. both in a down, this would have filtered them out. meanwhile, I have maxed out with 10 stocks and missed 3 winners in silver (SLV), AHL, and GPRE. These 3 are up 1500 already. Nice winners so far.. ERX, TCK, CTEL. almost up $3k together.
Thursday, April 1, 2010
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