Today’s Trade

This morning I pulled off IBM due to some interesting action in the market.  The threat of a reversal was high with the strength in major players like BAC, C, CAT, and others.  The market itself has reversed impressively today putting the major sector components back above their 7 day moving averages.  I am inclined to buy into this frenzy as the failure of the bears to capture 1400 on the SPX makes it almost certain that 1425 will be tested by the bulls.   John, in his trades continues to be long CAT and I am eying X, IBM, and PTR as possible upside entries.  I will look for an entry near the close of the market today.

Advertisements

Posted on December 5, 2012, in Jeffs 3k-100k. Bookmark the permalink. Leave a comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: