I didn't see this rally coming. But, it's here, and I'm not doing much with it. None of our problems have been solved, but the question is: What has already been priced in to this market? I'm not panicking, covering my shorts and getting fully invested, but I am very encouraged by this action. Rumors that Beijing will come to the rescue in Europe, something this pundit has predicted before, have seemed to have lifted us up. Let's not get crazy and just wait and see what happens. I think we could see the market move sideways, being taken down by financials and cyclicals, and being lifted up by quality names with solid earnings and fast growth. I didn't get a chance to pick at Acros Dorados Holding (ARCO), as I mentioned earlier in the day, because it never hit my limit price so my order didn't go through. athenaHealth (ATHN) took back the critical $60 level and closed close almost a percent above it. Green Mountain Coffee Roasters (GMCR) showed good strength today as well. All these names should be on your shopping list and you should be waiting for the opportune time to strike. If we're up huge tomorrow don't panic and buy these names at a premium. I can all but promise that you'll be able to pick them up cheaper when we get some half-baked, negative headline out of the PIIGS.
This is not a recommendation to buy or sell any securities. DAK was long ARCO, ATHN and GMCR at time of publication but positions can change at anytime.
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