Today we opened above the 100 but now the SPX is at resistance of 1375- 1378. We are waiting for confirmation, maybe today or Monday, to see if we hold the 100 or surpass 1378. On another note, we sold TNH for a small gain today. Liking the setup in TNH very much because of the technicals, (chart- broke out yesterday and is now hammering on the 100. See: education for hammer), its 7% dividend, and the crops that have been damaged throughout the U.S. due to droughts and storms which have driven corn prices up. Volume is poultry in it, as well as the SPX today (only 400K volume for the SPX). I am assuming because people are waiting for the same thing we are, a test of the 100 and the confirmation of a breakout. Our RIG and other holdings (VMW UPRO MS TEX ETP TJX MCD) continue to churn higher here (RIG up 10 percent alone this week). Waiting for a pullback in RIG as well as our other names to safely add more shares. Earnings will serve as the barometer in forecasting the economic landscape for the next half of the year.
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