(Untitled)
The DJIA and the S&P500 are both down fractionally on the day and the mainstream media reports that it’s because of some national macroeconomic and job data that’s been adjusted and manipulated by government paid economists wasn’t quite as “strong” as the consensus of some private sector economists who never saw the last crash come or go as compiled by a bunch of journalists. Or, as Marketwatch puts it this morning:
Data stall bulls’ momentum
Wall Street digests discouraging data on revised U.S. economic growth and weekly jobless claims.
The truth is that a 0.1% downside move in a collection of hundreds of stocks over a period of one hour’s morning of trading can never be explained by such simple cause-and-effect.
Anyway, Microsoft’s our big mover to the upside this morning. Nuance is moving higher again too. And LPS is getting a counter-trend bounce this morning too.
I’ve not pulled any triggers on trades yet today, but I am expecting to add to our Microsoft, using some more longer-dated calls that I’ll detail for you as I price them, now that it’s trying to “act” better and the chart’s starting to improve.
Back in a bit.