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Monday, October 10, 2011

Monday Morning Update

My bearish stance on Friday has just been blown out of the water. The reason for this blastoff is not really important, and I can't keep track of all the European bailouts going on right now, so I just follow the market. We are up big this morning, and it looks like we are very likely to have a follow through day today.  The leading sectors this morning are XLE, XLB, and XLF, all up over 3%. Lagging are XLP and XLU. The Nasdaq and Russell 2000 are leading big. Oil and gold are up, as are treasury yields, but not by much. I'll be watching that.

I have 19 new highs so far, but with only two breakouts: SIMO and CRI.None of the stocks I had scheduled to report today have reported, but MG will be reporting after the close.


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