There was good news and bad news today - bad news being that I sold too early on JRCC and kept waiting for it to dip and good news being that Bear Hunting Season has officially begun. Who fired the first shot? We broke above the 50 day SMA on S&P and are now on our way to testing the 50% annual Fib level on Nasdaq at 2593.32, being 'just' 27.27 points away. Breaking above this will equate to more bullish ammunition.
Tomorrow, AA kicks Earnings Season into high gear. I've been in this thing since $9.78 and the past few days, it kept breaking above $10 but not getting much past that. Will tomorrow bring a profit-taking opportunity?
BCS, which I purchased at $10.30, is finally in a position of pleasurable profit, ending the day just a cent below its daily high!
Check out this chart-to-chart correlation between VIX on top and Nasdaq on the bottom:
Looking back at my MarketCaster right now, I missed out on a major opportunity by not getting into oil sector shovel sellers. Most oil service / equipment companies posted double digit % gains today ranging from 10% to 15%. In contrast, AA, CENX, and JRCC were only able to post +3.91% to +5.87% gains. Some banks posted up to +7% gains.
Tomorrow, my game plan is to look beyond my portfolio for potentially bigger gains. Sometimes, if we step back we actually see the bigger picture. Only focusing on JRCC over the past few days was clearly myopic...
+3.24% SBA
+3.85% Roth IRA
+2.97% DJIA
+3.50% Nasdaq
+3.41% S&P
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