SPX closed at 1140.04 up 1.79 percent today. Every dip today was bought. This action is very similar to the action in August for the bounce. Hence it is not a good entry for short. I set aside to watch all day. One thing I observed today is that small cap is lagging the big cap stocks. When SPX and COMP was up 1 percent in the morning, RUT was in red or at the same level as yesterday. In the later afternoon, RUT begin to pick up, which pushed the SPX another up wave. Is this situation similar to later September, when money following into big cap stocks which makes nasdaq to pass previous high, while small cap did not up too much? I guess this is a bearish sign to watch closely.
Today a sad news came out around 7:40pm. Steve Jobs passed away at age of 56. I feel very pity about losing such a great legend in our times. My first apple product is the iphone 4, which I bought last December. I love my iphone and am amazed by the goodness of apple product. As it is said, "Steve's brilliance, passion and energy were the source of countless innovations that enrich and improve all of our lives. The world is immeasurably better because of Steve,"
"Remembering that you are going to die is the best way I know to avoid the trap of thinking you have something to lose,"
Steve Jobs' 2005 Stanford Commencement Address
http://www.youtube.com/watch?v=UF8uR6Z6KLc
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