Monday, November 9, 2009

Bookkeeping: Adding to Discover Financial (DFS)

As we did Friday with 4 other positions, as Discover Financial Services (DFS) breaks back north of the 50 day moving average we will re-expand our allocation; I am adding 1% exposure in the $14.90s.

On a side note - the Russell 2000 we noted as a lagging index is progressing nicely intraday, having pierced the 20 and 50 day moving averages at once... a close over this level, as noted in our weekly summary, would be beneficial to the bulls.

One month ago at this time, we began a furious rally the Monday after a poor jobs report.  I said at that moment "poor job report? what poor job report?"  Rinse. Wash. Repeat.   October.  November.  Potato.  Tomato.

Long Discover Financial in fund; no personal position

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