Monday, May 10, 2010

Monday post-game fibs

Dow Jones 10,785.14 +404.71 +3.90%
Nasdaq 2,374.67 +109.03 +4.81%
S&P 500 1,159.73 +48.85 +4.40%

A few of the issues I looked at this morning came in at Fib levels. Quite a range from what I saw but nothing overly exciting. Everything seemed range-bound.

NBG
61.8% retrace: 2.99
50.0% retrace: 3.08
38.2% retrace: 3.17
low: 2.96
close: 3.07 (+0.40 +14.98%)

IMAX
61.8% retrace: 17.82
50.0% retrace: 17.97
38.2% retrace: 18.12
low: 17.81
close: 18.30 (+0.94 +5.41%)

AAPL
61.8% retrace: 242.58
50.0% retrace: 244.66
38.2% retrace: 246.74
low: 248.53
close: 253.88 (+18.02 +7.64%)

C
61.8% retrace: 4.15
50.0% retrace: 4.20
38.2% retrace: 4.25
low: 4.16
close: 4.20 (+0.22 +5.50%)

F
61.8% retrace: 12.08
50.0% retrace: 12.25
38.2% retrace: 12.42
low: 12.02
close: 12.15 (+0.64 +5.56%)

FAS
61.8% retrace: 28.63
50.0% retrace: 29.12
38.2% retrace: 29.61
low: 30.00
close: 31.32 (+4.22 +15.62%)

Just about everything was up today aside from short ETFs and ETNs. Very few, however, closed above their opening prices.

I missed a decent run in VXX (I passed on a buy at 24.95) and had two very small losses on it. No other trades today. Still holding AAPL for the long haul. 60% cash for the first time in almost two weeks.

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