Additions: ACC KMX LDR FTI GPRO GOOG HXL HMC ID MWV SBAC SYK

Observations: I’m going to put aside what I think should happen (Dow 4500) and trade with what is going on in the market. Here’s what we know. The market had every reason to collapse and take out the 08′ lows and didn’t. Volume rose on all the major indexes and obviously investors are liking the Fed‘s response to our economic concerns.

I really thought the market was going to reverse from the morning strength once the news was out at 2:15, but we held. That’s a good thing for the bulls going forward and it’s imperative to see some follow through tomorrow instead of the incessant chop we’ve been faced with during the last few trading days.

Going forward I’m going to pay attention to some bullish charts forming in this watchlist, gold, and I’m not giving up on oil yet. The oil stocks I mentioned the other day all had big up days today so that is telling us something about the future direction of the price of oil. Exxon reports on Friday, which should be interesting and worth keeping an eye on.

Beta Watchlist

Zen

Courtesy of White Red Flower
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