Tuesday, June 15, 2010

Very good price action today...

The market moved up significantly today. However what was noticeably different today compared to recent up days was the steadiness of the advance with every slight dip being bought immediately. Although it appears that the volume today may not be higher than yesterday's. The nature of the buying today bodes well for the life of this nascent rally attempt.

As for DECK, it close the day up more than 2% higher. Now I have over $1,500.00 in unrealised gains from my DECK position. That is, I am up over 30% on my DECK position overall. Although retail stocks did underperform the markets today, DECK's price action continues to be encouraging and I maintain as I have during the past five days, I have no reason to SELL!!!

I like the price action in the market indexes and I hope that we do not get any nasty distribution days but instead continue to move up nicely. My hands are tied at this point as all my buying power is already long DECK. I can only hope I am not stopped out now!

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