Technical Picture - New Multi-Month Closing Highs Post FOMC

Early weakness post election was followed by erratic trade in the initial 20-30 minutes following the FED QE2 announcement. The announcement was roughly in-line and slightly better than expectation, which helped push equities to multi-month closing highs (52 week highs for the Compq.) Bonds,as measured by TLT, were crushed.

However, the $USD held up better than expected and GLD wasn't able to fully recover from high volume weakness earlier in the session. A bit of a red flag.

After hours, the Canadian gov't rejected BHP's bid for POT. POT sold off and should be a good buy the dip candidate. Earnings winners QCOM and WFMI will be on my focus list tomorrow as well.

Today's trades started with BO longs - MYGN, FFIV (HCPG pick), followed by support long - AGU and RIMM. Long ABX twice post FOMC, but it didn't rally as much as anticipated.