The market gave us a nice open, but so far has been a huge disappointment since then. The only positive thing that has taken place so far is that it has reclaimed the 50-day moving average, but even that MA has proved to offer little support/resistance of late.
I did add two new trades to the portfolio today with Peabody Energy (BTU) at $65.37 and Amylin Pharmaceuticals (AMLN) at $11.42, which has a nice chart setup but since breaking out has pulled back some. We’ll have to wait and see how the day plays out, but at this point, the bulls have disppointed out of the gate.
LONG:Peabody Energy (BTU)
LONG: Amylin Pharmaceuticals (AMLN) at $11.42
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