The 300 point rally cracked the cement heads of Tea Party republicans to strike a deal. Although nothing has been announced yet, I am fairly certain something will be announced within a week. Now the focus will shift to earnings, then holiday sales. For the most part, retail sales have been lackluster. But, many retail stocks have been hammered in recent months. There is opportunity in the sector.
Gold is being destroyed today because stupid people own it.
I like my chances at adding to gains today. Optimism should continue into the weekend. I can’t think of a reason to be short right now. It is a recipe for capital losses.
Top picks: BALT, YELP, YY, SUNE.