Financials Lead Market Rally
The market hit new highs as the buyers kept the gravy train running
smoothly. Volume was good today and financials and energy both rebounded
after dismal showings on Tuesday afternoon. Investors temporarily sold
today's open, but the bulls quickly reversed said bearishness. And they
should have.
The employment and service data today was spectacular.
Before the day started, an ADP report showed private payrolls
expanded by 297,000 last month. That is way ahead of the 100,000 expected
and also outdid November's 92,000 jump.
Employment has weighed on investors minds over the past two years,
and also has generated concerns from the policy makers about the
sustainability of the recovery. While today's employment data has not
cured those concerns, it should go a long way towards fighting economic
pessimism. I hope you're reading Ben.
Another bright spot today was
from a stock I recommended months ago. In the very near term I was wrong.
Shares did not take off in the style in which I thought, but ultimately
they hit my target.
The stock I am referring to is Opexa (Nasdaq:OPXA) which shot up
50% today and breached $2.75, my target price set in September. I own
this one, so I was a happy camper when I glanced at its chart this
morning. I will add to this position as early as tomorrow and set
my next target for $3.75 by April.
Watch
List
The TradeMaster Daily Stock
Alerts watch list took to a
bullish outlook. Leaders on the list today were Felcor (NYSE: FCH)
Maguire (NYSE: MPG) and Richardson (Nasdaq: RELL) for a full list of our
trades and video of our current watch list CLICK.
Send comments anytime editor@trademasterstocks.com
