Thursday, January 29, 2009
Bear market rally
Markets refused to sell off yesterday, holding the gap up from the morning, which was quit strong. Some of the old big runners like RIMM,AAPL,BIDU,GOOG were on the big move today. In terms of earnings WFC posted -0,79 $ a share, nevertheless the stock spiked around 20 % higher....is greed back in control of Wall St.? We will see how long this lasts, usually bear market rallies like this are past pretty fast when reality and in the end fear set in again. Lot of intresting charts on the long side out there right now. CLR which I had on my list some days ago, is setting up a minor spot again at 24. CMG should be intresting above 51 and CMI might take out 27. If AG`s are strong I will consider CF if it can break above 50.
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