Stocks rose for the third straight day on Thursday, sparked by results from Bank of America and Morgan Stanley and as the latest jobless claims dropped to a near four-year low.
The S&P 500 hit a fresh five-month high, with the industrials, consumer discretionary stocks and financials leading gains.
In the latest snapshot of the U.S. economy, data showed the number of Americans filing for new jobless benefits dropped to nearly a four-year low last week. It added to views that the economy is slowly moving forward.
The Dow Jones industrial average .DJI rose 45.03 points, or 0.36 percent, to end at 12,623.98. The Standard & Poor's 500 Index .SPX gained 6.46 points, or 0.49 percent, to 1,314.50. The Nasdaq Composite Index .IXIC climbed 18.62 points, or 0.67 percent, to close at 2,788.33.
Advancing stocks outnumbered declining ones by a ratio of about 2 to 1 on the New York Stock Exchange. On the Nasdaq, nearly three stocks rose for every two that fell. (commentary & photo courtesy of Reuters)
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One of RSI’s best performing positions has been PIMCO 25+ Yr STRIPS (ZROZ). In recent weeks it has been rolling over and acting tired. Not too surprising since this recent positive market action has hurt the risk-off positions. Closing out this position today represents a 20% gain which translates to pocketing +3.17R. Not too shabby. 
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Today RSI continued to make more picks of risk-on funds:
- Buy 473 shares First Trust Cons. Discret. Alph (FXD); Stop = -$2.11 Target = +$6.34 Volatility = 4.00%
- Buy 188 shares iShares S&P Global InformationTechnology (IXN); Stop = -$5.31 Target = +$15.93 Volatility = 3.44%
Both these ETFs have been performing well. I think FXD has an edge over IXN since its money flow is more positive. Either way I will be looking at these and the other recent picks for potential new positions.
Catch you later
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