Minor pullback today on profit taking & horrible Auto data.....
Advancing stocks led declines on both NYSE & NASDAQ by wide margin....
More 52 week highs than new lows....
Indices closed @ improved levels than low of the day......
LDK warned on Q4 & entire 2009 in terms of Sales,EPS & Margin.....stock down AH along with all solar stocks.....
Q1 & Q2 MAY be challenging for all solar as orders are being cancelled or pushed out due to lack of credit....Margins MAY remain under pressure for 1st half of 09.....
Carter Worth Oppenheimer Technician is predicting range bound indices....15% UP & 15% DOWN..does NOT expect S&P 500 to cross 1030......My take is that 1000 area MAY be resistance first time......
US$ was down 1.77 cents against CAD...great for me today $$$$
BLOG does NOT give buy or sell.
Saleem
2 comments:
SALEEM
saw that 30 swing for the S&P--the chartists do they ever get it right??
HE sounded like he had conviction--I believe that CNBC is full of garbage and that we can do as well with predictions are selves.
Looking for another APPL run and I hope QLD pops up big.
My Citi play is up /02 cents
financials did a little break out.\
Hi Madmax,
Market has shaken everybodys confidence & read of the market...so nobody is sure of anything...including chartist!!!!
I am going with the flow of TAPE !!!
Saleem
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