The bears got trapped here as the bulls have taken firm control. We're up 12 points to 1184 on the S&P and the Nasdaq is up 29 points to 2561. I've bought some Oil Service Holders (OIH) and ARM Holdings (ARMH). It's the season for tech and my favorite play is ARM Holdings (ARMH) as they make the chips inside iProducts. With analysts yesterday raising iPhone shipment forecasts I believe the Apple (AAPL) machine should keep churning out juicy profits. I'm still holding a good amount of cash and haven't covered any of my shorts as Europe will be coming to ahead in the next few weeks. We may finally see some resolution over there thanks to China and this should be a boon for the stock market.
This is not a recommendation to buy or sell any securities. DAK was long ARMH, OIH and AAPL at time of publication but positions can change at anytime.
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