Quick premarket comments today. I have 2 sick kids that were up half the night. Mom needs my help.
Today is options expiration day. Sometimes the market listens to news and circumstances – sometimes it ignores such items. Right now big news items are causing gaps, but after that, it’s onward and upward. … Maybe we get a little more volatility than usual (would be nice considering some of the ranges we’ve had recently), but overall, I don’t anticipate any effect.
The market has been up 8 of 9 days. New highs were registerd yesterday, but the banks and semi dropped. It’s nothing to be be concerned with yet.
Overall I see no reason to change anything. The trend is up; I have no desire to try picking a top (for swing trades), but with 8 of 9 up days, let’s not get carried away with Dow 10K.
More comments coming after the open. Right now I have other stuff to tend to.