Day 21 - DOW +189, NASDAQ +67, S&P +23

DOW rose to the highest level since January as a rally in the dollar and better-than-estimated technology earnings prompted investors to shun commodities and shift into shares of banks, retailers and computer companies. Financials also got a boost after Kuwait’s $250 billion sovereign wealth fund said it may increase its stakes in Merill Lynch and Citigroup. CME NK (YEN) closed at 14065. S&P futures +0.25 ( 7.25 am )

Update ( 8.05 am ) :

Sold my last long position of 13875 at 14065 for profit of 190 points, since NK already up by about 300 points at this level while DOW up less than 200 points. Queued at 14055 but got filled at 14065. Will monitor and buy again if necessary.

Snapshot ( 815 am ) :

 

S&P futures pushed up by 2 points within few seconds as NK declined steadily from 14070 to 14005. Could be some Big Boys slowing down the NK slide while they unload some of their long positions.

 

~ by sgxtrader on May 2, 2008.