We had an interesting mix of news this morning as The Home Depot beat expectations, fueling a 5% rise in it’s stock. Countering HD was Microsoft news announcing their Windows president, Steven Sinofsky, was leaving the company only weeks after the Windows 8 launch. Mr. Sinofsky was rumored to be in line for the next CEO. Microsoft’s stock was down over 3% fueled by the news. So we had offsetting DOW titans moving in different directions. The ES started quietly before the buyers took over, driving price to the back of the DTG 72 level. They never let up and price eventually moved up to bounce off the DTG 80.50 level, setting up a short opportunity. Unfortunately, the opportunity did not get much traction; but the buyers told us when it was time to exit.
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