I'd noted yesterday that, if you attribute much of the volatility in the U.S. markets this year to big-money allocation movements, the action of the past week looks pretty classically bullish. Today's steady rally from open to close seems to be trying to drive that analysis home. Tech is leading the rally again today, in case you didn't notice.
Alcoa's (AA - commentary - Cramer's Take) big 5% pop off its strong earnings report last night is our first data point in trying to gauge how the market will react to earnings this season. I'd call that reaction bullish at Alcoa, no?
Hate to start sounding so bullish, but it is what it is, and I'm getting longer.
At the time of publication, the firm in which Willard is a partner had no positions in any of the stocks mentioned in this column, although positions can change at any time and without notice.
P.S. Will you be there when Cramer makes his next move?
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Cody Willard Blog A Tradeable Trend 1/10/2007 12:56 PM EST Tech is the only sector with a steady bid.
Cody Willard Blog Putting Money to Work 1/10/2007 10:56 AM EST Here's what I'm nibbling at this morning.
Cody Willard Blog Another Apple Day 1/10/2007 9:14 AM EST The only safe sector seems to be tech.
Cody Willard is the manager of CL Willard Capital Management, LLC. He is a regular guest on Fox News, CNBC and other networks, and he writes a monthly column for the Financial Times. He is also an adjunct professor at Seton Hall University and the author of TheCodyReport.net, a monthly stock market newsletter. Willard appreciates your feedback -- click here to send him an email.
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