Monday, January 24, 2011

POMO at play, averages up 1%

Not going with historical precedents, markets slowly grinded higher closing on the high end of the day.

145 companies with 50-day highs. ES seems to be in a short term trading range between 1270 and 1300. Waiting for the break in either direction.

Mostly a rebound day as short term indicators were oversold.

AAPL recovers 11 pts to 337.

IBM at a new high up 4 pts.

NVDA up 11%, best among semiconductors.

Coal attempting to stabilize. PCX up 3.5%, WLT up 3.3%, ANR up 2.88%.

Reminder NFLX and AMZN report earnings later this week.

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