The ECB announced this morning that it will lend dollars to euro-area banks in a series of three-month loans to ensure they have enough U.S. currency through the end of the year. This is very good news and the markets rallied hard off it this morning, but we're now off the highs on Christine LaGarde's comments. I'm in 35% cash and waiting for a dip to put the rest to work. CF Industries (CF), Baidu (BIDU), Arcos Dorados (ARCO), Wynn Resorts (WYNN) , Randgold (GOLD) are all on my watch list. One of the stocks in the Free Market Capitalist Portfolio, Alexion Pharma (ALXN) is rallying over 4% today off an analyst upgrade. I think we're in a "buy the dip, sell the rip" situation today so if I see the bids get pulled midday and we start to drift lower, I'd be a buyer, than as we rally towards day-end I'd unload.
This is not a recommendation to buy or sell any securities. DAK was long ARCO, WYNN, GOLD, ALXN, and BIDU at time of publication but positions can change at anytime.
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