Who Needs HPQ

The HPQ news was sold into for that stock, but the Nasdaq leaders (AAPL, BIDU, GOOG, ISRG & RIMM) have all found buyers and their strength has lifted the confidence of the market. The SPY is back above 145 and holding above that level could lead to a more significant rally. From failed moves (like yesterday’s breakdown) often come fast moves. The MACD divergence also lends credibility to this rally. Do not let your confidence lead you to taking large risks.