Heading into the Fed meeting, we were going to be flat, but some better than expected durable goods orders have sent us upwards this morning.

The Commerce Department said orders for big-ticket manufactured items rose 1.8 percent. Economists were expecting a decline of 0.6 percent.

A good post and chart by drillindk in the Stock Market Discussion thread with a chart of where this bounce could lead. As you can see he is still expecting some downside if that resistance...

The biotech sector, while off the lows nicely, has largely been ignored in this rally.

If markets are pulling back here, money will look into this sector for some moves.

The S&P biotech ETF has some resistance to get over, but smaller names like AMGN and CELG are breaking out of recent patterns.

There is something to be said about the virtue of patience and preparedness, in fact, in my sig I have my mantra displayed for all to see:

"Success occurs when preparation meets opportunity."

Gambler2076 did he research, picked his entry and waited patiently for the catalyst (which for this lucky bastard came the next day).



+42% today to $4.75. Nice work

I posted in the IPI thread yesterday about a break out in progress, Ag names have been attracting plenty of buying interest, IPI included.

For the month of May the stock consolidated a run to the $26-$28 range, it was pushing up on the resistance and finally broke through today with some very nice volume:



Similar story with AGU:

Did you catch SRS today? Nice 13% run from my call yesterday

Hopefully more to come on that one, we need to see how this decline in the broader markets separates the bad from the worse... Now we get to see what sinks and what floats.

Almost every stock out there has been rising over the past 8wks as money flows indiscriminately into anything. Market declines like this are a magical gift if you know how to read them. The stocks that fall the hardest are...