The Rally is On, GOOG FSLR BIDU AAPL RIMM
Just after 2:00 PM all three major indices were coming off new lows, and from then until now the bulls have taken control pulling all the major indices back in the green on the day. As of 2:53 PM the NASDAQ is up .16%, the DOW is up .26%, and the S&P is up .27%.
Leading the rally are stocks like Google (GOOG), First Solar (FSLR), Baidu.com (BIDU), Apple (AAPL), and Research in Motion (RIMM). Here are some intraday charts for your viewing pleasure:
FSLR Intraday, Click to View
BIDU Intraday, Click to View
GOOG Intraday, Click to ViewOut of the three I like FSLR best as it just trended under its 50 MA today, I own some shares of FSLR $217 which I bought today.Â
Watch the market closely the last hour here to see if the rally keeps up, and if we end up with a strong close be ready as it should set the tone for a good day tomorrow. Highs on the day right now to beat for the NASDAQ is 2463, the DOW 12688, and the S&P 1399.
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Looks like the short term oversold bounce is on, finally. How long it will last though is anyone’s guess. I wouldn’t bet on it lasting real long, but it may be a sharp rally while it lasts.