After spending most of the day in the red, bulls finally took charge and the market (DOW) pushed into positive territory before the close. Nasdaq also rallied but closed with a small loss. The indicators still show a bullish bias, and I still think wave 5 is in the works.
A new stock that has shown up on my radar is POWI (Power Integrations, Inc.) It has managed to break thru to the upside from a fairly long base. If I wasn't so convinced that a near term market top is imminent, I would have added it to the portfolio. But I will keep an eye on it to see if a trading opportunity presents itself.
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