Friends
It was another trading session where early gains in the market averages dissipated as the day wore on. No, there wasn’t a lot of selling as things did finish in the green, and the bears haven’t been able to marshal the forces for some time now. Perhaps the distractions of a quality company like AMC theaters doubling in price during the trading session distracted market participants in general and the bulls in particular.
By the close, the Dow Jones Industrial Average was up 25 points to finish the day at 34,600. The S&P 500 was up 6 points to close at 4,208. The Nasdaq Composite Index was up 19 points to close at 13,756. Gold was up $6 to trade at $1,911 per ounce, while oil was up $.98 to trade at $68.70 per barrel WTI.
Yes, the meme stocks were at it again with AMC leading the way. But other once heavily shorted stocks were finding love too such as Blackberry, Bed Bath & Beyond and old favorite GameStop. If you are participating in these high flyers enjoy the ride, but don’t wager more money than you would be comfortable losing, just in case the ride hits some bumps in the coming days and weeks. In the meantime, we’ll keep an eye on the markets in general.
Have a nice evening everyone.
