Friday, October 15, 2010
Great Week!
Stocks across the board initially rose after Federal Reserve Chairman Ben Bernanke reiterated that the central bank is ready to do more to stimulate the economy. Bernanke's comments were the latest confirmation the central bank is about to step up its purchase of Treasury bonds to spark growth. But that burst of optimism couldn't fully overcome worries about how banks like Bank of America and JPMorgan Chase handled the foreclosure process on mortgages. Both banks, along with General Electric were the primary culprits in sending the Dow Jones Industrial Average down more than 30 points. The tech-focused Nasdaq composite index rose more than 1 percent with a boost from Google's 11 percent gain. No damage has been done to our attached SPY chart and the bulls still remain in control. This week was filled with plenty of excellent trades and our charts just keep printing profitable signals. But what would you expect considering our software was developed by some of the best quants and institutional traders out there. Don't come to the dance if you can't play their game is what we always say. Congratulations to our subscribers for a great week. Enjoy your weekend.
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Thanks guys!
ReplyDeleteI love it! My best week EVER...Tom
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