Online Stock Trading | Stocks Soar on Triple Witching Friday

Stocks Soar on Triple Witching Friday


Filed Under Market Commentary |

On the back of RIMM’s earnings news, stocks vaulted out of the gate and never looked back.  Every index that I track (NASDAQ, NASDAQ100, S&P500, Industrials, SML, Russell 2k, and MID) all spent the day higher by at least .9%.  Volume soared as triple witching expiration day accounted for much of the mornings volume.  As trading neared the end of the session, a massive buying spree took place sending the NASDAQ to its high of the day at the close.  A tremendous show by the bulls, buying support came back into the market with volume.

The inability to gain much more than a 13% decline in the NASDAQ has most frustrated.  I too almost was sucked into thinking getting into the Ultrashort ETFs was my game plan.  However, as I noted here that I removed the possibility from my game plan.  Have a few long positions with cash to spare was the right course of action.  Now I have the ability to catch anything that is breaking out of a sound chart pattern.  One that is interesting is TSCM.

Enjoy the weekend!

Market Speculator

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