Quick Daily Summary Thoughts – April 19

Well, after a morning of backing and fillling (the gap), stocks decided to edge higher by roughly 0.50%, depending on which u.s. index you look at.  Monday's 15 point gap lower only has about 5 points left to go to fill entirely.  One of my key shorts as of late is RIMM, and it treated me well today as it nearly slid to last Thursday's low, which was the lowest the stock has traded since last October.  I remain short and have made that very clear to premium members.  My price target is $51 for the majority of the position.

The SPX managed to put together a decent day after yesterday's damage, and as such put in a confirmation day on top of yesterday's bullish candle.  I am gaining more liking for the long side here but will look at this more clearly tomorrow morning, early!

Have a great night

 

 

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