[Day] Recap

Another tough day in the market, with the Dow making a complete reversal throughout the day (opened +50, move to +100, closed +10). My guess is conservative bids emerged once investors realized we have more inflation-indication data coming out in the next few days. When you think about it, it makes sense. The early rally was attributable to easement of oil, which essentially was a gap up from the punishment that rising energy costs gave to stocks last week. A few hours later, I guess we realized that what’s more important are interest rates and inflation… it’s not so important to me, but it’s important to the street and that’s enough to effect all major indexes.

Notebook
… TIE has fallen back below $25. Where’s the fight in this stock that I’m so used to seeing?
… NETL showed consistent strength throughout the day.
… NRMX had contrarian action. Bad news, but stock goes up 20%. I tried to short, but “no shares left available to short” message popped up.
… BDCO surely disappointed investors by failing to top $5.50. But I’m not surprised, it’s a junk stock to begin with. I need just a little more sell off before I can short.
… BBC was super volatile after reporting another record quarter. The trading range was $13.75 down to $12.49. Okay, I’m bearish now.
…NVAX, good thing I never bought on the conference call hype which brought the stock all the way to $3.23. It ended up closing at the low of $2.85! I don’t go long stocks that rally on bad earnings anyway.
…HANS, fought hard throughout the day, but only managed to close up 40 cents. I think you can swing trade this stock in either direction when it’s close to $30.
…GROW, a very strong stock that is breaking out on relatively high volume. Stock pays no attention to market indexes, so trend is your friend until it ends.
…ICLR, is continuing to make me look like an idiot. Stock reached a new 52-week high today. Switching back to neutral until I see a confirmed top.
…OMNI, falling falling falling since it failed to breakout two weeks ago.
…ASEI, is very volatile since earnings. This stock may gap back down now that all the weak short sellers have exited. I just might enter tomorrow.