Stock markets was weak today as some investors locked in their profits ahead of some data points & mildly OVERBOUGHT conditions.
Dow Down to 13063 -58.03 - .44%
S&P Down to 1482 -11.70 -.78%
Nasdaq down to 2525 -32.12 -1.26%
Dow showed the most resiliency after a phenomenal RUNUP.
As usual Nasdaq is showing relative weakness down almost TRIPLE of Dow.
Casino stocks were weak like LVS down $3.72 to $85.19 & MPEL down 51 cents to $17.42.
WFR continued its weakness down another $2.66 to $54.88.
GOOG down $7.63 to $471.38,RIMM down $3.17 to $131.58.
AAPL is showing relative strength down only .12 cents to $99.80.
Most stocks gave UP their gains by end of the day and ended in RED.
I took advantage of this sell off by buying STP @ $36.19.........which I had sold few days ago for $38.50.
The weakest stock in my portfolio was SIRF down $1.07 to $24.26.
Weakness in stocks or markets are viewed by me to improve the quality of my portfolio.I generally buy on weak days & sell on stronger days ...If I have profit in any of my position.....unless it is a core position for long term.
Good luck on your trades.
BLOG does not give buy or sell on any stock listed above.BLOG is for educational purpose only.
Saleem
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