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Thursday, October 27, 2011

Thursday Morning Update

It now appears that the Euro zone has been officially rescued (by whom, I don;t know, but ultimately it is going to be the U.S. taxpayer), so the market is going to scream higher with the Euro (and the dollar will scream lower, so enjoy the rally but quit complaining about gas prices). The drop we had over the last couple of days accomplished one thing: it has set up a very wide range, with a target here of 1292, and I don't see us hitting major resistance until then.  XLF is the leading sector today, basically leaving the rest of the market in the dust, although XLE and XLB are over 3%, again thanks to a collapsing dollar. XLP, XLV, and XLU are lagging. The Nasdaq is about even, the Russell 2000 has a comfortable lead. Oil is screaming hgher, gold is down slightly, and treasury yields are up big.

I have 218 new highs this morning, with breakouts in ASPS, SWI, ACAT, COG, XRAY, PMC, KEX, and HITK.  Here is what i have scheduled to report last night and this morning, I haven't been able to confirm they have all reported yet:
Wed

Thur
Ticker Change
Ticker Change
ALGT 0.48%
CMS 1.01%
AXTI -22.82%
CRI 5.73%
COG 14.38%
EZPW 3.25%
GTLS -6.82%
IVC -5.33%
ISSI 2.74%
LL -1.26%
JAZZ 1.58%
NANO 4.33%
MLNX -2.18%
STMP 0.75%
REGN -2.29%
SWI 14.64%
TYL 8.64%
WMGI 1.42%


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