Wednesday, February 14, 2007

Thoughts on the day

Both DOW and SP500 had a solid break-out day today, and NASDAQ is within a striking distance of its recently high. The market obviously liked what Bernanke had to say. For the stocks on my list, while a few advanced on good volumes, majority came in notably light volumes. I am guessing that a lot of short covering is going on right now, which could intensify going into Friday's option expiration if bears could not muster any meaningful counter attack tomorrow.

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