All we needed to get the market going again was some...Bad news? Initial unemployment claims came in higher than expected at 627k. Maybe the market was just getting so used to rallying on bad news that it took some to break the cycle. Who knows.
Days like this are very boring to me as I rarely buy anything when everything I'm looking at is moving higher.
A couple of updates:
-Looks like it may be a little while before I can add to my GGWPQ position as it jumped a quick 15% after I bought it. I will not trade out of this stock because the position I took is quite small.
-There has been plenty of strength in rails lately, and they just haven't sold off enough for me to buy yet. There seems to be plenty of people who see value in the rail industry like I do.
-Almost bought some UNG late yesterday, but my order wasn't filled. I'll look to pick up some shares if it gets back to around 14.00, and obviously add shares if it drops lower after that.
Unless we get a big reversal, I don't anticipate doing any trading today.
Looking forward to watching the NBA draft and trying to figure out what the T-Wolves (yes, they're my team) are going to do.
Disclosure: Long GGWPQ