Thursday, July 12, 2007

Recap

Capitulation by the shorts propelled the Dow to a record close and its best gain in 4 years. The S&P and Nasdaq were not far behind. The S&P 500 finally broke through the 1540 level where it has encountered some resistance previously. Weak numbers in retail were overlooked as Walmart posted better than expected same store sales. Some apparel retailers had some huge gains today including ANF AEO CTR and Target was also up big on reports of an activist investor taking a stake. By sector, aluminum, industrial suppliers and consumer finance were the big gainers while hotels and brewers lagged. Gold and silver both had excellent days as did the miners.

3 comments:

Long John Silver said...

You must have been killed holding all those silly inverse ETF's?

Surely you dumped them just in the nick of time.

JJ2000426 said...

SWC had a very nice rally today. This is a great entry for this incredible bullish stock. It can be compared to PCU 4 years ago. Both return 2000% (20 folds) in just 4 years. I have made a very strong case for SWC super bull. Do your own DD on palladium.

Look at this perfect chart

Google keyword "palla lunar" (one word no space). And follow the Russian enigma!

TheCapitalGame said...

Most of my inverse ETFs were sold on Wednesday once the market recovered from its intial weakness. I added more into Thursdays close.