Thanks to the 10% up move in RIMM, our account has turned green for Dec. I attributed everything to casy luck since it wasn't anything I did or saw. Both ATW and BUCY hit new highs today.
However, many stocks are hitting new highs even though the averages are anywhere from 4-8% below their 52 week highs.
This past Tuesday the T2108 indicator or the % of stocks below their 40 day moving average dipped below the 20 level intraday, which coincided with the rally we have witnessed during this options expiration week.
Anyway notable % gainers since the Tuesday bottom are (with many at 52 week highs):
Agriculture: MON, MOO
Mining /Coal: JOYG
Technology: RIMM
Solar: FSLR
Energy: SII, RIG
Steel: STLD
ETF: UWM (Russell 2000, It lead the rally the past four years, it also lead the decline during this past summer)
Trade note:
ESRX is underperforming the averages on a 1% up day. If the % performance for today does not match the worst performing average, i.e. the MID, then all 800 shares will be sold at the close. And if it's a judgment call, I'm liable to toss it out anyway, seeing as how BUCY and ATW have rebounded.
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