Market rally, yeah!!  Wooooo.  Buy some stocks!  GDP bro!

Apple Inc. (AAPL: 173.74 -0.53%)

Research In Motion Limited (USA) (RIMM: 126.65 -1.22%)

What gives bros?  Rollin over on me?  Don’t you watch Cramer?  That was the bottom!  Sack up!

Dow at 11,700?  S&P 1300?  Little to no overhead resistance there.

Well, at least all those studies that validate buying strength will put the wind in my sails.

____________________

Erin: I talked about how some of the first money I put in the market was in 1998, and I wasn’t allowed to buy individual stocks.  It hasn’t been a great decade.

Matt Nesto: [chuckling, not laughing]  It’s pretty nice when your financial anchor discloses she’s a lousy investor!

Erin: No!  I wasn’t allowed to own individual stocks!

Matt: Ohhhhhh, she’s an excellent investor who was handcuffed?

Erin: That’s how I would prefer to describe it.

Matt: I think that’s a great image too.

I agree with Matt Nesto 100% here.

..that the market is still fucked and that this is most likely a month-end markup?  Traders come back labor day, and what has improved in the interim?

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Doesn’t this remind you of Cramer, stock analysts, bulls, bears, pundits and the market itself?  Fear and greed?  I can draw parallels to all.

[note: you will either think this is funny, or extremely annoying]

(CME: 344.49 +4.23%) broke out of a triangle pattern to the downside, and is now testing the underside of the line.

Clean Harbors, Inc. (CLHB: 82.80 +1.36%) is making a new all-time high / btfo, but it isn’t on huge volume. Still like the name though.

J Crew. Your prep shit–

it sucks.  Pop’t collar, no love,

hoes, they be leavin’.

Danny sez:  ANF goes lower

Solar Fun. Wait, No!

GT Solar. oops my bad.

Blew out earnings — huge.

Danny Sez:  Get long SOLR or LDK Solar Co., Ltd. (LDK: 50.85 +1.64%) .  But really, I want LDK above $48.

First, take time to read this.  Then notice this, Corinthian Colleges, Inc. (COCO: 13.93 -0.50%) .  Then send me a gift basket.  It better not have any of that fake smoked cheese in it though.

This one too…

Shorted Dover Corporation (DOV: 49.96 +4.15%) at 47.70, wanting it to break down.  Maybe it won’t.  Stop is in place.

LDK Solar Co., Ltd. (LDK: 50.85 +1.64%) broke out above this support line I mentioned the other day.  I missed this one today, but the move looks fo’ reals.  The announced better than expected revenue guidance for 2009 (by 375m or 15%).  Given the fundamental nature of this news (not incorporeal like an analyst upgrade) I think the stock can run, perhaps to $55 before reversing.

However, and son-of-a-vondruke if this doesn’t suck, but it’s up 56% in a matter of weeks.  It’s overbought (see red spike on chart).  And if that wasn’t enough, your making a major bet on momentum follow through in a bear market that has a predilection for reversing, not following through.

I’ll sit this one out if it explodes higher tomorrow, but since it is only 2 points away from an easy stop, it is worth the risk if it pulls back tomorrow and remains above $48.  Also, and this is just me, but since the market has been so choppy and $48 is such a laughably obvious support line, factor in risk to sell at 47.55 (an extra percent) or something like that.

It seems as if the buying strength and selling weakness trade ended right when the proliferation of the internet  gave millions of investors and traders access to the same previously exclusive indicators and thought processes propagated by a relative few sophisticated investors/traders in the past.  It doesn’t seem like a coincidence to me that what worked for 40 years relatively quietly would stop working once every knows how the momentum game is played, up = up, down = down.  Did any of you guys come up with theories as to why the trade lost its edge?

The “sort value” is percentage return YTD.

I just thought I would throw these up for interest’s sake.  These stocks made a new intraday high today greater than any in the past year.  The didn’t necessary close above the highest close however, as was the case with MITI.

I am pretty surprised to see stocks like NTES and QSII in there.