MIDDAY FEEL
Feels like the markets may get a decent bounce this afternoon as the financials are the leading sector as I type. The NDX also looks pretty good and I have dipped into a QLD long near the $78 level- and will look to add on the dips.
Market internals improving and if they flip to green on the NYSE/NAZ it could be a telling day in the short term.
VIX heading lower;
TRIN- .44- HMMMMM;
Up volume a hair better than down;
RSI (2) levels at the noon hour:
SPX 25
DJIA 21
NDX 25
RUT 9
MID 8
And has anyone noticed Pisani has called the top in oil stocks for about the 100th time- it remains a buy the dip area for me DIG XLE OIH. Oh and the bottom in financials for about the 200th time- that remains a stay away except for GS for now.
posted by DAVID at
11:45 AM
2 Comments:
You sure you want to buy Qs before RIMM earning? Look like these few days, Qs is doing catch up on the down side with other two indicies... Notice the weakness of $compx compare to $spx and $dji of late... And RIMM price has been rising quite a bit into the earning, so if bad, it goes off cliff and if it good, might be just sell the news... and it will drag the whole tech sector down... maybe this is the time both Qs and IWM will knife down and catch up with the rest of market to the downside...?
OK THANKS- BUT SO FAR QLD looks pretty pretty good- but I may take it off before the close-
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