Today… A Draw

Market was in terrible shape this morning! I spent the entire day looking at red. From my watch list only one stock closed green- Master Card (MA). Still, the Dow and the S&P 500 made huge comebacks, filling in the entire gap.

The majority of the day I spent watching Peru Copper (CUP). I waited for an entry point, but was to reluctant to pull the trigger. In hindsite I missed about 4 good points, either short or long. Another good performer was Titanium Metals (TIE). Whoever got in on TIE when it reach $32.00 got it at a bargain. I set a buy limit, but by then the Dow recovered and my order never filled. I’m a little disappointed that I never took advantage of a rare full reversal day like today (ie, Dow dropped more 100+, but then closed in the green) But that’s okay, I sill believe there will be more opportunities in the next few days, especially with CUP and TIE. Another stock with unusual behavior was my energy pick, Tri-Valley (TIV). In the final hour of trading the stock this stock, together with most oil related stocks, had a huge rally. The only difference was the magnitude of TIV was huge. Keep an eye on those oil stocks… they’re getting interesting, now that an Al Qaeda leader got killed, oil worries are starting to fade- Ha! This is only short term folks. I wouldn’t be surprised if we saw some kind of retaliation attack soon. Remember, an attack doesn’t have to happen, just the thought of one will send oil prices back up.