Wednesday, 30 April 2014

Closing Brief

US equities closed with moderate gains, sp +5pts @ 1883. The two leaders - Trans/R2K, settled +0.7% and +0.5% respectively. Near term outlook is for the market to push upward into the 1895/1905 zone by the Friday close. VIX continues to reflect a market that has no fear.



*I dropped all three of my oil/gas drilling stocks - DO, RIG, SDRL, in the late afternoon. I will look to pick at least two of them back up tomorrow, on any minor pull back.

So..April trading comes to a close, for the was a teasing month. Yes, there was some notable declines in the R2K/Nasdaq - and especially the momo stocks, but really, the broader market only fell a maximum of 4-5%.

The fact the sp'500 closed the month with net gains says it all.

Have a good evening

more later...on the VIX.