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Market Recap 9.6.2012

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The S&P 500 closed at session highs of 1432.10 for a gain of 2.04%.  The Nasdaq also closed at session highs up 2.17%.  The DJIA closed at a session high of up 244.52 points for a gain of 1.87%.

A huge day for equities across the board, with the S&P 500 logging its best day since January 2008.

James Ramelli UIUC graduate in Finance. Email: james@keeneonthemarket.com Follow: @Jim_KOTM 

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Trade of the Day (HALO) 9.6.2012

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UPDATE 9.16.2012  With a nice rally higher, the October 5 Calls are worth $1.45, good for over 10% gains, but I am leaving them on as the chart looks strog.

UPDATE 9.21.2012  With the Stock moving up by over 28% today, these Calls went from $1.45 to $3.10 and good for 2.5 times my money.  I have NOT takin any profits off yet.

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Stocks Hit 4 Year Highs 9.6.2012

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The S&P 500 is currently up around 1.91% with financials and materials leading the rally, the DOW is up 1.73%, and the Nasdaq is up over 2%.  The VIX has fallen to near 16.

JPMorgan and Bank of America are leading the rally in the Dow up 3.8% and 4.54% respectively.

James Ramelli UIUC graduate in Finance. Email:james@keeneonthemarket.com Follow: @Jim_KOTM

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Morning Rage 9.6.2012

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The big story of the morning comes from Europe, as news from the European Central Bank drove the EUR/USD up higher 0.31%. Oil, Gold, and Silver futures all moved higher 1.09%, 0.95%, and 1.69% respectively. US indices futures are all up around 0.5%.

Navistar International Corp (NAV) moved 2% yesterday after a positive earnings report. Third quarter income was $84 million compared with last year’s 1.4 billion. Revenues in the third quarter were down 6 percent from the third quarter of 2011. The EPA issued a ruling on NCPs for highway diesel engines last week but NAV claims it is prepared with plans to transition to a new clean engine solution by 2013.

Amazon.com Inc. (AMZN) is said to reveal a new Kindle Fire product. An ad last night showed the new Kindle e-read and new Fire. Last week Amazon announced that it had sold out of the Kindle Fire. AMZN is sitting at 246.50.