It was a slow and boring day for the stock market. The media decided the reason behind it was due to the speech Mr. Bernanke was to give to an audience in NYC. If the markets would have been up a lot today, I bet they would have said it was because oil fell 3.7%. Anyhow, the Nasdaq closed up .3%, DJ-30 up .05%, SP 600 up .03%, and the SP 500 was down .2% and the SP 400 down .3%.
Volume came in lower across the board as breadth was positive on the Nasdaq and negative on the NYSE. The low volume has to be expected after the quadruple-witching Friday. It was overall a nice day to consolidate gains made last week.
Despite the mixed action in the market indexes, leaders took the lead as the IBD 100 rose .8%. Internet, Semiconductor, Computer Mfg., Biotech, and Medical stocks led. That is very bullish, in my opinion. These are the sectors that lead bull markets. And they are leading indeed.
Besides that there is nothing else to add. Please read the previous weeks post for more market insight.
Hopefully, tomorrow will not be as boring on the surface as this market was. But at the same time I hope underneath the surface stays just as active as it was today. It was a good day for my portfolio. We can only wish the same tomorrow. Good luck out there!
New Swing Longs: BBC IMGC BOT SFE WTSLA TMTA--To get more info on these longs go to Investors Paradise and scroll down to Josh Hayes and click on the 'longs' thread.
New Swing Shorts: NONE
Longs Outperforming Market: ERS-168% STRL NTES COGO-34% WIRE-116% VIMC-89% FFIV-28% XRTX-38% ATHR-106% IVAC MFLX-228% DECK RMBS NGPS LTM BGC-57% BWLD SCHK-37% SIRF-133% ASF-211% STX KDN MDCC-42% EAGL-57% MTU SAY-32% CRDN-51% HEIA-31% CHE ASVI RATE-144% PKE MEK-51% SSW FWLT-67% KNXA-48% RUTH TGC-53% BWNG-133% GNBT-127% NVAX-83% IIP-28% ANX-41% GIGM-81% CUP TFSM-41% WSTC LCC-80% MDII NMR-37% EMKR-132% AKAM-81% LWSN ORCC HOM CVO-83% RCNI STNR SBAC-46% UBS ING-25% WST AKN GEMS MT TWTC-110% LMLP ICTG-82% SF
Shorts Outperforming Market: NONE
Stocks On Radar Screen: TXCC HET LNUX LVLT HEB LYV
Retreat!, Retreat!: KNDL
3 comments:
This is not a very good tool. Take a free trial run of IBD premium products. You will see what I mean.
I wish I had better news. But honesty is better than being nice and lying. This tool is very weak.
Aloha, cozza :)
ugly reversal but s&p 500 still managed to hold onto 1295 level
PARL: If you got the February b/o you should have sold out of all by now. If you are long from deeper levels you are fine. But this is the last line of support, imo; the 200 dma.
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