THE CLOSE
There it was - a rather interesting day as the FED announcement was bought sold bought and sold again with the DJIA closing +120, NAZ +29 and the SPX +11.5.
Strongest sectors- gaming, homies, brokers, defense and fins while drugs, metals, real estate and retail lagged.
NYSE- 1200 net winners;
NAZ - 1100 net winners;
NDX- 87 GREEN;
SPX - 415 GREEN;
VIX down 2% at 25.45;
TRIN- .62 with up volume about 4x the down;
My last move higher was not seen today but did get some of my SSO off at the highs of the day- after that lower.
RSI 2 levels - a bit overbought near 60 on the SPX and about 70 on the NDX.
Not expecting much tomorrow although the bulls continue to surprise the traders- lots of folks keep on trying to short - and end up covering higher- see Doug KASS.
posted by DAVID at
4:00 PM
2 Comments:
So we going to see a bounce in the finacials because Paulson bought a few billion dollars of BAC and RF? Maybe it will turn into the quicker-picker-upper for my banks stocks.
Go Gators
You gotta give Kass some props for calling the bottom, but overall it's dangerous to listen to any of these so called gurus....
Came across your site via TG, wanna exchange links?
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