Futures seem relatively flat today, as the market really seems to be up and down with no direction. I trimmed some longs earlier and looked to add some, if we ever get a pullback, but I want to be safe and make the right moves. The AIG short is working very well, both from the share short and the put purchase. I really believe AIG is worth $1 a share but timing will be vital. AMD decided to break out yesterday...it's rather funny in the past 2 weeks the stock is up 41% and 2 weeks prior to that, it was flat - did nothing. Below is the analyst upgrade. I must laugh at such a thing - in all of my time trading, I can't recall an analyst upgrade that was made during market hours lollllll. I mean seriously, most upgrades/downgrades are made in the morning and get things fueling. This upgrade was like at 2pm and it came out of nowhere! I agree with some of the analyst view points; however, I will say AMD has a management that is known to screw up and the price target assumptions seem rather bold, in my view. RIG is starting to pick up some steam from the $73 purchase and is the best/cheapest play on oil exploration.
Lastly, as you see above, the finanical index is very weak. It will hard for this rally to be sustained when the banks are left behind. The NASDAQ looks to still be oversold, while the NYSE index is back into overbought conditions.
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