Market Up, Divergences Abound

Monday, March 01, 2010

  • Optimism from Europe spilled over into US equity markets with the Dow gaining 79 points (.8%) for the day. Still a stock pickers market though as lots of stock diverge from each other within sectors.

  • My buddy who runs a soccer store in Manhattan says he can't sell Manchester United jerseys because of the large AIG lettering across the front of the jersey. I wonder why no one wants to wear that around in New York, ha!

  • Traders: The SOLAR buy list from Deutsche Bank means Shorter-Term Opportunities within Long-Term Analyst Recommendations. Yes, I had to look that up 3 times before I remembered what it meant when hearing it. It has nothing to do with solar companies. So, why would they...yes...I don't know why.

  • Amazon saw a nice technical breakout to the upside in shares after a long month of tight consolidation. After selling off to negative territory, shares found a strong bid and rallied throughout the rest of the day ending 5% higher.

  • Warren Buffett spent 3 hours on CNBC this morning. Lots of good stuff there.
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