THE SNOOZER
Markets continue to trade mixed with lots of gyrations but very little travel in either direction. The best performing major market index is the NDX and the large cap growth index.
The small caps continue to act the worst.
Strongest sectors include metals, semis, banks and defense/aero while oil service, airlines, biotechs, small caps, reits and homies act the worst.
DJ is down $4+ on news from the WSJ that Rupert is unlikely to proceed on the offer based on the current vote count.
Winning stocks include LOGI LVLT GRMN MICC ISRG NSC NSM TXN ATI CL RTN WFC TEX PCR ABB ACH WFR BHP and EDU.
Losers include EK MS EP EXC DELL LEH BIIB WYNN BEAS UAUA SUNW AAPL BX NDAQ NMX MCRI IBM CVX and C.
Market internals have flipped to red with 340 net losers on the NYSE and 600 net losers on the NAZ. The OEX is 55/45 green to red while the NDX is better with about 60 winners.
Volatility indexes lower by 4 or 5% but still way overbought.
Wish there was more xcitement to report but for now I think bulls who sit and wait for higher prices will be nicely rewarded.
3 Comments:
Dougie Kass is calling your style out (as you have mentioend this has worked for 4 years):
"Buying the dips blindly, which has worked for years, will be a recipe for disaster."
Any thoughts as to a "change" in the markets?
I don't know if it will continue to work- if not I will go with the flow- Right now I say it hasn't not worked yet- And Dougie- well he has been shorting since QQQQ 25-on and off- not such a great strategy-
marc jacobs
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2016.7.25haungqin
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