MOTHER OF ALL REVERSALS
There it is - BSC tanking to a 2 handle before the bounce back and if you think BSC is the only cockroach on the board well- this fish is not so sure.
Anyhow, DJIA now down 116, NAZ -24 and SPX -16. Just when we had all the happy talk of the double bottom and the take away from there. Not so easy. Oh and new 52 week highs for GLD/SLV.
Strongest sectors- metals, ags, defense, internets, retail and telecoms while brokers, gaming, banks, airlines and semis lag.
Key stocks- green includes BIDU BG POT DECK MA- losers LVS NVDA C NYX ICE UA MS MER WYNN CME;
NYSE- 1,800 net losers;
NAZ- 1225 net losers;
NDX- 10 WINNERS;
OEX- 6 WINNERS;
Down volume 6X the Up;
VIX +8%;
Careful out there as we probably go back near the lows.
posted by DAVID at
10:18 AM
2 Comments:
PPT was in buying overdrive after the drop of 270 on the DOW earlier this AM. Could not agree with you more that the market should deteriorate in afternoon trade considering it's a Friday.
Y and what was Cramer smoking when he said NAZ was strong(-40)- BKX strong (-2.5%)- RLX strong (-3%)Does he do that because he wants to act/sound bullish or because he just doen't see very well.
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