Stocks moved up in moderate volume today with Dow closed at 10586, up 55.47 pts and Nasdaq closed at 2178, up 8.81 pts. Stocks were helped by lack of economic news and lower oil prices.

A lot of technologies news today. Yahoo and Tivo teaming up to allow Tivo users to program their DVR remotely from Yahoo’s television website . Wall Street Journal reported Yahoo and Google plans to launch wireless service. Microsoft is reported to be the front runner for AOL. Guident is suing J&J about the agreed merger.

Personal Trading:
Opened EXPE APR 2006 25 Call at 1.75. I’m very bullish on online travel long term.
Opened BZH JAN 2006 65 Call at 3.2. I feel all the bad news is out and believe a short term rally should be possible.

I’m a little concern about this rally because majority seem to think that the end of year rally will happen. That’s too much optimism. I’m going to be long on this market, but keeping my eyes wide open for signs of trouble.

This entry was posted on Monday, November 7th, 2005 at 10:12 pm and is filed under Market Recap, Trading. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.