We have another rally today in the markets sparked initially by IBM's buyback announcement early in the AM. I was able to do pretty well with a large long position in BIDU at 231, closed out at various prices above 239. My final sale was actually 241.62, which I am happy with, as one of my goals this year is to truly attempt to capture a larger portion of a move. Near term, the market SEEMS overbought, especially given the current environment, but I would not be surprised to see the market consolidate the recent gains tomorrow by trading fairly flat, rather than fall or rise precipitously. Tomorrow we have durable goods at 8:30 am ET, new home sales at 10:00 am.
See you tomorrow
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