Rally Mode
I was expecting the market to start rising, but not like this. Hey, I'll take it! The jobs report today was on the softer side, I guess ok news is good news. This probably means the Fed will not have to jack up the rates aggressively. Also Altria (Phillip Morris) won an appeal against the government, so they are off the hook for a big payment. Altria (up 5%) contributed to a big percentage of the Dows jump today.
I heard on CNBC that the mutual funds are finally seeing some nice inflows. So what have people been waiting for? My guess is that tax season has finally arrived and people came to their senses and started to fund their retirement accounts. When I walk by the Fidelity offices, I just see long lines. I already contributed to my Roth in early January. I was an early bird.
I'm still deciding how I want to play the pharma down turn. I already have positions in Pfizer and JNJ. Debating if I should play the Pharma ETFs.
So yesterday I mentioned Cytyc and Qiagen went up on big volume. There was no follow through with Cytyc, but Qiagen gapped up and continued to advance with higher volume. I still could not find any news on Qiagen. It's expected to report earnings on the 14th, so I guess I'll have to wait to see what's brewing.
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