The Day that Was - July 23rd 2007

The financial sector finally had some upward moves. That in addition to some good earnings pre market helped the market move into the green zone today. The DOW maintained the gain for most of the day however the S&P and the Nasdaq gave up some the of gains from the peak of the day around mid day. But at least it was an up day on all three of the major indices.

Also in the pre market was the news of the merger of Transocean (RIG) and Global SantaFe (GSF). A deal worth $53 Billion.

Today was just a taste of what is yet to come this week with many companies releasing their earnings. It will indeed be a busy week with companies reporting.

RebelTrader swing trades:

FEEC closed at $1.65, which is a gain of 5.7% from the entry price just this past Friday. When FEEC moves over $1.65 I will enter the second 1/2 of my swing trade.

WWAT continues to be a good mover. Closed today at $2.45 which is 33% up from my original entry point.

WDC closed up today at $22.89 and this swing trade stands at 12.3% gain from the original entry price.

NHWK closed up today at $21.36 and this swing trade is currently a 10.1% gain from the entry price.

I closed the AKS swing trade today because earnings are due tomorrow but the main reason is that there has been some recent earnings from other companies in this sector that had bearish outlook on the metals sector. I did not want to risk holding AKS through the earnings and possibly being exposed to bearish outlook from the company. AKS was closed at a break even (less than 1.0% gain).

The Rebeltrader portfolio continues to rack up good gains. Tomorrow I will continue to work on the new watch list items and more trade ideas.

"May the Bulls be with you" (yes, I'm a Star Wars fan!)