daytrade diaries... friday, page-5

morning guys,

some very important events out of the US overnights, both the S&P 500 and DJIA both broke above and held key technical levels and the Nasdaq actually turned positive for 2009 which is extremely positive for a continuation of this current rally.

also we had some more optimistic economic data, good news on Mark to Market accounting, $7 trillion stimulus out of the g20 and very positive earnings after close from Research in Motion.

if the US markets can shrug off tonights employment data it wouldn't surprise the current momentum take the S&P500 test 900 and DJIA 9000 in coming weeks.

yesterday afternoon I was talking about taking some medium term positions to enjoy the benefits of the current market momentum, and added to my BMN and FSE positions with BBP,BBI,MDT.

I agree with you highlandlad, that we are likely to see further REIT's and specs breakout today.

I like both BBP and BBI because they are both undertakeover speculation with both companies working through proposals and judging by the offer MCG received early this week there is certainly a demand for quality assets.