Today we got the rally I talked about yesterday in the Trading Room.  I said I thought the market would rally off Goldman Sachs earnings on Tuesday.  However, before the bell today, a very influencial analyst, Merideth Whitney, upgraded the stock and said she expected “blowout” earnings this quarter.  The stock opened up 6 points and set the tone for the rest of the day.  Today was one of those days where the .TRIN stays low, telling you there will be buying all day long.

The financials, retailers, etc performed well today while the commodities sector still struggled.  As I said in the trading room, we are waiting to short commodities stocks off this short term rally.  I am still watching for short opportunities on POT, BG, MOS, and CF.

Happy Trading

Robb Reinhold