daytrade diaries july 31

Stocks finished higher Thursday, but a late-session retreat erased a good chunk of gains.

The NYSE composite rose 1.7%, down from an intraday high of 2.4%. The S&P 500 gained 1.2%, Dow 0.9% and Nasdaq 0.8%.

According to preliminary data, volume rose sharply across the board. Advancers beat decliners by more than 3-to-1 on the NYSE and just over 2-to-1 on the Nasdaq.

Metal products distributors, insurance and chemical makers were some of Thursday's top-performing groups. Network service and office supplies firms were a couple of the session's worst performers.

Oil jumped more than 5 percent to near $67 a barrel on Thursday as economic data sparked fresh optimism that the recession may be bottoming out.

The number of U.S. workers staying on jobless rolls fell to the lowest in three months last week, government data showed, while the four-week moving average for new claims dropped by 8,250, to 559,000 -- the lowest level since late January.

Support also came from data showing euro zone economic sentiment increased in July to its highest level in eight months, helping to lift European equities to their highest close in nearly nine months.

Market wise:
Banks 39.99 +1.32 +3.41%
Chemicals 223.28 +7.33 +3.39%
Commodities 640.74 +15.95 +2.55%
Gold 142.97 +4.00 +2.88%
Hospitals 430.53 +5.06 +1.19%
Natural Gas 446.79 +12.85 +2.96%
Oil 954.34 +11.48 +1.22%
Oil Services 168.97 +4.37 +2.65%
REITs 141.14 +4.94 +3.63%
Retailers 354.10 +4.72 +1.35%
Broker Dealers 108.45 +2.18 +2.05%
Telecoms 671.08 +14.27 +2.17%
Utilities 396.27 +4.63 +1.18%

So themes for me for today:
REITS, Commodities, Natural Gas, Metals

Since this is just the first break out, I expect some sort of testing in our market in the during the day before resuming so I'll be scalping before holding a position over the weekend.

Got into VPG & NXS overnight. Longer term hold EPG & CFU.

Good luck to all.

Ice