The market spent most of the day defending the SPX 1040 level. We saw some bounces in the morning. But, like I said in my article last night, "…the momentum is on the downside right now, and, bounces may invite more selling." In the last hour of trading, the selling resumed on heavy volumes, ending […]
The market opened lower today, but, the weakness lasted no more than 15 minutes. Buyers came in and picked up stocks on the dip. Oil gapped lower at the open and most commodity sectors opened in the red. However, crude ended the day in the green, above $80/barrel! Biotechs continued to plow higher as BTK […]
By HappyTrading
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Also posted in GOOG, MGM, WYNN, LVS, AMAG, VPHM, BIDU, TEVA, FRX, INCY, WMS
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This morning, better retail sales numbers got the market in a cheerful mood. In addition, jobless claims were less than expected. Financials rallied, led by GS, which added +5.89, or +3.73%. Techs were also strong, led by GOOG and AMZN. After being "dormant" for the past 2 months, GOOG and AMZN had awakened in the […]
September 14, 2009 – 8:21 pm
The market opened lower today, but, closed in the green, again! As I mentioned in my Market Forecast on Sunday, "[T]he market needs to let off some more steam." It did so in the morning. We continued to discussed the importance of the commodity sectors, which were mostly in the red on Monday morning. But, […]
By HappyTrading
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Also posted in GS, PDLI, BTU, ACI, CNX, MEE, PRU, AIG, HIG, INCY, HGSI, SPPI
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The market really has not gone anywhere for about 2 weeks now! Today, the market started out low, rose higher, but ended basically flat. The “swine flu fear” certainly seems to add to the confusion, making investors more cautious and nervous at the same time. A surprise jump […]
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It was a very volatile day. The market started lower with unfavorable retail data in the morning. Selling pressure was on GS as it sold $5 billion of stock to repay federal loans. Other financials got dragged lower as well. Oil services were among the […]
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