As we did Friday with 4 other positions, as Discover Financial Services (DFS) breaks back north of the 50 day moving average we will re-expand our allocation; I am adding 1% exposure in the $14.90s.
On a side note - the Russell 2000 we noted as a lagging index is progressing nicely intraday, having pierced the 20 and 50 day moving averages at once... a close over this level, as noted in our weekly summary, would be beneficial to the bulls.
One month ago at this time, we began a furious rally the Monday after a poor jobs report. I said at that moment poor job report? what poor job report? Rinse. Wash. Repeat. October. November. Potato. Tomato.
Long Discover Financial in fund; no personal position