Today’s rally really snuck up on me. It felt like it was gonna be a real quiet, flat day on the NASDAQ until about 1:30. At that point the market just shot higher. By the close just about any index I could find was at a new 52-week high. The SOX (not at a 52-week high) was able to get back above its middle Bollinger Band but NVLS may drag it back down tomorrow.
We still have a Fed interest rate decision and a ton of earnings reports due this week.
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Making a play on earnings is pretty tricky. Do you end up with an Agilent or a Novellus? I’m making a stab at one today. Hell, it’s outright gambling. The only thing we know, is that whatever they say, it’ll move the stock one way or another!
I do my best to avoid being in a stock when it reports in my tradng account. I will swing at them once the news is out. I’ve been watching A and NVLS all day but haven’t touched either one yet.
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