Big up day on light volume

The only real notable event today was the ISM (Institute for Supply Management) released their June manufacturing index. The index was 56% which was a bit higher than the market was expecting. This eased the minds of some in that it suggests a lighter inflation picture. Remember that the markets are all about greed and fear. The bulls and bears will jump all over any news that feeds them. While there was food for the bulls today it only takes something else to turn the table and get the bears hungry.

The market advance today brought AKS up to my buy point. AKS was entered long @ $38.58.

Current open position BIG also advanced well today and got close to the second buy point for adding the next 1/3 of the swing trade funds.

Watch list item WDC also advanced fairly well today and if the upward move continues then we will reach the buy point.

Some subscribers to RebelTraders knows I am long on FRPT as a long term play. The close on Friday was a great price for any new investors. Today that proved to be correct. FRPT rallied almost 10% today. And after the close of the market today there was news that Congress may be adding additional funds to purchase 4 times more vehicles, the type that FRPT builds. This will most likely add to the momentum in FRPT.

On the DOW index we are still stuck inside this trading range that we have been in for a month now. We really need to see a move out of this range in order to see the market regain some composure and get the volatility back down and stable.

Fp80