Fed come to the rescue

It seems like the savior of the market spells as FED. As soon as FED released its meeting minutes revealing a willing FED to cut interest rate, stock shrugged off inflation news and reverse to high.  The volumn rose across the board. Maybe a lot of technicians were caught off the guard and are forced to cover their short positions.

As this blog is being written,  DOW/SP500 stands exactly at their 20 day MA.  as observed before, the 20 day MA is a big hurdle for the market to overcome, thus far, the market failed every time when it approached that line.  let's see whether it will be any different this time.

$VIX continues to improve, the "fear" fact melted away yet again. 

NASDAQ, being the index punished the most, recovered nicely today. thanks to the good earning from HPQ and a pessmistic view.  If we believe the mood of market is changing and investors  tiptoe back to test the water, then, there are maybe more bargains to be found on tech space.  Out of four stocks that mentioned yesterday, qcom, stld and joyq has been up the whole day today, only teva is a little lag, but, if the recovery in nasdaq continues, they certainly will benefit the most.

Out of international market, ewz performed best, while ewa lost some ground which puzzled me the most, aren't both country are resource plays ?

Steal Makers are latest darling in the market.  AKS, NUE looks good.  So are the coals.   Commodities are all the rages, let's see how long that can last.

Short side,  BLK and LFC are my favorite short at this point.  

anyways, be prepared, you never know which side will surprise us once again