Well today was an explosive way to start the new year. The bulls stormed out of the gates and never looked back. Though volume wasn't huge, the vast majority of stocks were up for the day, making today powerful for the bulls. That being said, I'm not terribly inclined to read a whole lot into it. The first couple days of the year are historically strong. I remember reading somewhere today that the second trading day of the year is higher 74% of the time with an average index gain of 0.5%. That's bullish history for you.
I made no trades today. CRE and ROST were pretty much flat. UTA was up ~5%, but I'm still waiting for a pullback before buying (I'll still probably buy it if it breaks out, though).
Position: none
Disclaimer: This is not a recommendation and is presented for informational purposes only.
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