Some of you may remember the sage words of Happy last week, he mentioned the markets were likely due for a bit of a rest. He called it right of course, and while the markets showed an up day it was mostly mixed. Bonds were hit hard as was the greenback again, but it appears that weakness is caused by the Chinese now selling their dollars in exchange for commodities. Kinda makes sense, no use cheapening their treasury holdings. Breadth was solid but volume was lacking, perhaps getting wired up for an end of month run. Techs were mixed but the financials put in a good showing, albeit rather quietly. Energy continues to be an area of interest in select names. Earnings are in view this week, namely looking at the energy complex, FSLR, V and MA. AMGN put out stellar numbers after the close, and we still have some of these contracts working. VIX got a nice pop today, but we've noticed rising volatility begins the week only to fade later on...we'll see if that pattern continues.
We added some names to the party today, and look to pick up a few more shortly. Names on the radar include DRYS, MEE, SWIR among a few others.
Hit 'em straight!
Bagger
