THE CLOSE
Markets close lower giving both the longs and shorts ample opportunity to coin some trading dough. DJIA closed -45, SPX -11 and NAZ -26.
Strongest sectors metals, oils, ags, steel and homies while banks, brokers, reits, real estate and gaming lagged.
NYSE- 1600 net losers;
NAZ- 1200 net losers;
NDX- 33 GREEN;
OEX- 35 GREEN;
VIX- 28.5 higher by 3.5%;
Crude- near the unchanged line at $145;
Gold- up $15 at $975;
EURO - 1.59;
Markets don't look like they know what they want to do and with Tuesday coming up it could be a turnaround higher yet again- and if it does I suspect many a trader will be shorting.
One area to watch - the regional banks which the market is telling us are going bankrupt- probably true-
posted by DAVID at
4:05 PM
1 Comments:
The market may say the regional banks are going down but you just need to look in the right places. I rode OZRK to a nice 25% gain on spectacular earnings last thursday and friday.
Glad I sold it at closing friday as it dropped 4.5% today. If it has to do with money it is getting sold. I'm going to buy two more banks tomarrow as I'm hoping they will be cheaper in the morning. They report Thursday so can't wait too long.
Post a Comment
Subscribe to Post Comments [Atom]
<< Home