Ok, Bernanke is off the air and the index declines have not abated. Actually, we're knifing-down in the NDX right now.Cisco's Chambers mentioned a slow-down in business coming from financial institutions. That's provocative. Could it be the depression in the financial sector could actually cause problems elsewhere?
Unlike yesterday, however, the underlying internals remain firm relative to these index declines. This is likely temporary, but at the moment it suggests you cannot jump in whole-hog short right now. It is really only the best and the worst that are getting seriously clocked today.
Unlike yesterday, however, the underlying internals remain firm relative to these index declines. This is likely temporary, but at the moment it suggests you cannot jump in whole-hog short right now. It is really only the best and the worst that are getting seriously clocked today.
Financials and hommies (the worst) are driving to lower lows and the go-go NDX branch is finally getting pelted. Apparently the widows and orphans are letting go of some of their GOOG, AAPL, RIMM, BIDU, etc., etc...
I'm feeling left out and lonely at the moment, having let go of the QID about 2 hours ago, but the time-of-day, combined with the lack of underlying carnage, means I have to stay on my hands at the moment. If there is no sizeable bounce in the NDX, I will fire again for the last 90 minutes of trading. I suspect it will be well-off the lows by that point however.
I'm feeling left out and lonely at the moment, having let go of the QID about 2 hours ago, but the time-of-day, combined with the lack of underlying carnage, means I have to stay on my hands at the moment. If there is no sizeable bounce in the NDX, I will fire again for the last 90 minutes of trading. I suspect it will be well-off the lows by that point however.
Time-of-day is a great trading tool. I'm not at all saying to buy any GoGo here (momentum is under a clear SELL). But freefall is better preserved late in the session.
Heya, CNBC talking about the possibility of $200 crude oil in a year. I guess sentiment is beggining to get negative out there.
New highs in all accounts here today.
Heya, CNBC talking about the possibility of $200 crude oil in a year. I guess sentiment is beggining to get negative out there.
New highs in all accounts here today.
1 comment:
I'm not real sure on $200 crude. More likely,. $60. I just keep on buying DUG, as i have seen oil, crude, oil services, you name it, rocket it up then fall. I guess I might be wrong this time, but I doubt it.
Yours,
Bozo
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