ISE Gets A Bid
I was debating with a colleague last week whether ISE would get a buyout bid or not. So this morning when I came in and saw my position up +40% on the news, I was elated. There is no better feeling.
Asian markets were lower overnight, and our major indexes are down also. I would think we would see some consolidation after the recent gains. The S&P and Nasdaq are up +5.2% and +5.6%, respectively this month. It's nice to see that our bullish stance following the late Feb. correction paid off.
This morning's inflation report was good. The core PCE was flat, bringing the year/year rate down to 2.1%, withing the Fed's preferred range. Bonds rallied on the news, and the yield on the 10-year is down 5 basis points to 4.65%. Nice.
The poll I ran on the site showed an overwhelming response for more stock ideas. Actually, market updates were the lowest tally. So I will make changes going forward to the daily format to include more stock ideas and technical analysis. This will include more charts with comments, more stock screens, and more trade updates.
I still have my small AMZN short on, but the stock isn't pulling back yet. I am still on the fence between adding to it, or just closing it out.
long ISE; short AMZN