Tuesday, August 31, 2010

Still Stuck

Not much to say today dear readers as despite some interesting intraday action, the market remains stuck in the range that it has created for itself in the last one week. Both bulls and the bears can take some positives from today's action. The bulls will be pleased that 1040 on S&P held once again and if you are bearish, you gotta love the action at the close today. The numbers to watch remain 1040 on the downside and 1065 on the upside for the S&P with 2100 and 2158 being the corresponding numbers for NASDAQ.

Personally speaking, I took a position in ARUN today at 18.60.

Take care and good luck!

P.S.: Here are the links to Chart of the Day and some gold picks.

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