Saturday, May 9, 2009

The Kirk Report

The Kirk Report

Leveraged Long Financials

Posted: 08 May 2009 05:59 PM PDT

All news was considered good news this week and it shows it.

This Week

For the week overall, the S&P 500 gained +5.89%, Dow +4.41%, Nasdaq +1.15%, and the Russell 2000 +5.10%. This was the ninth straight weekly advance for the Nasdaq and, at this pace, we'll see another +20% gain for the markets in May. In fact, to make the big money this week, being leveraged long the financials through the Direxion Financial Bull 3x Shares (FAS) which gained +60% over the past five days was the best way to go. It also would have paid off being long Latin America which gained 10% this week.

Next week we put the end to what has been a fabulous earnings season as the market seeks fresh catalysts to keep the rally train moving. I'll see you then. * Best wishes to all mothers out there this weekend. I hope you have a great day - you deserve it!