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Intra-Day Commentary - Targets Set at 2pm

|Includes: DIA, Transocean Ltd. (RIG), SPY
We're going to try something new in the Instablog.

Every day, we are going to feature select comments from Phil's Premium Member Chat.  This will give our Seeking Alpha readers an exclusive inside look at what the Members see at PSW.  If you are interested in signing up for a Premium Membership, you can use THIS LINK for a 20% first-time discount.

Our second featured comment of the day was Phil's Afternoon Chart for Members:

PhilJune 2nd, 2010 at 2:07 pm |

Damn, we are NOT breaking out of the channel! 

Philstockworld Dow and S&P targets for 060210 close.

10,080 is the 0% line for the Dow and if I were Mr. Stick, I’d use that as my go point and jam the Dow up 100 from there, back to about 1,100 (on the S&P) so that’s the game(d) plan for the afternoon if we are getting back to the usual bullish shenanigans.  Which would be fine with us as we WANT to be bullish now…

RIG/Brooklyn - I like the spread better because we don’t really know what will happen with RIG at the moment so I’d rather go with the smaller commitment and keep the cash handy for adjustments. 


Disclosure: Positions as indicated but subject to change