Evening Wrap Up

What a bullish day! The Nasdaq bounced firmly from ~12 day moving average to just barely close in the green. While I do not have the final volume numbers, today's volume looks to surpass yesterdays, but will probably still fall below average.

I sold my QID at the close- 200 @ 47.38, taking a miniscule loss. While the setup I entered yesterday still has merits, I am not going to bet against the strength of this rally. Furthermore, everyone expects CSCO to report good numbers this evening, and I do not want to face the QID gapping down tomorrow morning. In fact, here are the numbers coming across the newswire:

DJ Cisco Systems 3Q EPS 30c Vs 22c>CSCO
DJ Cisco Systems 3Q Sales $8.87B Vs $7.32B, +21%>CSCO
DJ Cisco Systems 3Q Net $1.87B Vs $1.40B, +34%>CSCO

and the market is responding AH by pushing CSCO down almost .75cents from its close. The earnings reports often make for volatile trading after-hours. We'll have to check later this evening after the conference call to see how things shake out.

Anyway, GIGM, CMGI and MVIS all outperformed today, which netted me over 1K, my biggest gain in a couple of weeks.

As time permits, this evening I will continue with my objectives and personal assessment.