Wednesday, 15 April 2015

Closing Brief

US equities closed higher for a second consecutive day, sp +10pts @ 2106 . The two leaders - Trans/R2K, settled higher by 0.1% and 0.8% respectively. Near term outlook remains bullish, with the sp'2130/40s viable within the next few weeks. Equity bears have little realistic hope until at least mid May.



*notable new historic highs in the R2K, NYSE comp'

... an interesting day, with a rather large number of individual dynamic movers... in particular...

Oil/gas drillers, RIG, SDRL
Copper miners, FCX, TCK
Tech, INTC

Broadly.. market looks set for a weekly close in the sp'2120s.. and continue climbing into May.

*I exited INTC (long) in the early morning.... picked up TWTR (long).. in the afternoon.

4.10pm.. NFLX earnings: ... missed, EPS 38 cents vs expected 69.   However, subscriber numbers were good.

Stock soaring to new historic highs...

*a likely stock split looks due... a 5 for 1?  That will at least make the option calls more tradeable!

more later.. on the VIX