I’m back from a mini-trip to Florida where I got to battle one-on-one with Tropical Storm Alberto. Believe me, I won. The storm was nothing but a mini thunder storm in my opinion. We lost a day of sunshine, which my wife needed, and consumed more alcoholic beverages. To me it was a win/win. I even got a cool picture that I sent to The Fly.
Well, let’s get back to mother market. Just in case you guys missed the chart of the Russell 2000 today, take a look below. Clearly risk is still on, as the small cap index sets another 52 week high:
China names also continue to see good momentum, and our position in $YY paid the bills today (I will likely sell tomorrow ahead of earnings early next week.).
Upon selling $YY, I will likely move that money into $DBX as the daily chart talks to me. Oh, and $SNAP is off the floor as of today. I am long with a stop just under 10.50.
Enough of the ramble, we lost a good friend today in DMF. He will surely be missed in our trading community. He traded stocks pretty much to the very end of his life, something I can see myself doing. He respected the craft of trading, and strived daily to get better each and every day. It was always a joy to wake up to his market notes inside our trading room, he will surely be missed.
Long $RACE, David’s favorite ticker. May it trade higher by 1000% tomorrow. Rest easy my friend, enjoy the golden streets.