Wang’s Happy Trading

Another “muted” day! The techs were once again much stronger than the broader market, with GOOG leading the way! The talks about GOOG’s possible mobile services are getting louder and louder, sending its shares to a new all-time high of $699.91! AAPL also charged up to a new all-time high of $189.37! The Dow closed down 77.79 points; SPX lost 9.96; and Nasdaq was flat, losing just 0.73 points.

Here’s how the market looked at the close:

SOX (semiconductors) and INX2 (Internet) managed to stay green. OIH (oil services) and USO (oil) were down, both just over 4%. GLD (gold), GDX (gold miners) and XME (metals and miners) were all weak today. XLF (financials) gave back some gains made in the past couple of trading days, but, stayed above $33. FXI (Chinese ADRs) also took a breather, down 1.8%.

SPX

SPX lost almost 10 points today to close at 1531.02. The broader market is staying in a neutral gear before the Fed meeting. SPX is caught in between the daily MAs, with the MACD still trying to turn.

Nasdaq

Nasdaq is much healthier, closing flat at 2816.71. Its daily MAs are moving up and it is pushing its daily upper BB open. The MACD is also turning up.

Today the dry bulk shipping sector took a big hit. DRYS, EXM, and DSX all dropped more than 10%! After the market, SIRF jumped more than +18%, as it announced solid Q3 earnings and gave encouraging Q4 views. CMG reported a 3rd quarter profit that jumped +75% and saw its shares rise +3.15% in AH trading. IVGN reported a Q3 income of $31 million comparing to a loss of $129.8 million a year ago! That gave investors plenty of reasons to cheer, driving its stock up more than +5% in AH!

Good night and HappyTrading! ™