Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
While the market is down for the week it is now flat with the gap down open Monday morning. Considering the news backdrop (we were down this moring premarket) that’s a big win for bulls. Even the QQQs have a chance for a 15th (!!) consecutive up week, if things continue. Friday’s lows were near 1393 which would “fill the gap” to the upside.
Yesterday’s action was not that surprising – today’s much more. Especially with the action premarket. Thought if we drifted back up it would take until early next week to reach these levels, but not in the bipolar “student body left” market.
Apparently, Monday and Tuesday were like a Bobby Ewing dream – they didn’t happen.
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Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund’s holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/holdings/blog
