Monday, March 16, 2009

Nasdaq profit taking sinks indices.....

NASDAQ was the weakest...since open....closed down around 2% on heavy profit taking....more NASDAQ stocks were in RED most of the day with decliners in the lead...a sign of many traders locking in gains......

AH ENER,SINA came with lousy guidance ...ENER down around $5 SINA around $1.50....

VIX @ 43.74...I will feel much more comfortable when it goes below 40 and stays there.....

AH Futures are slightly UP after factoring fair value.

Some of the green close were :

BAC,C,AGU,MON,IPI,GNK,FXI,IBN,ACH,X,XLE.

Congratulations to Brian Williams of NBC for listening to his audience & airing positive contribution story every night on NBC evening news.

BLOG does NOT give buy or sell.

Saleem

8 comments:

standardshigh said...

Hi Saleem,

Looks like by the mini future chart that a sell program kicked off right about 1:30 pm that took the dow down.
GE wants to go higher. Hard to swim against the tide.

BDI 2122 vacillating

Best Regards

Stocks100 said...

Hi Standards,

Pullbacks are healthy for markets & individual stocks.....

Markets always consolidates before next move UP.....

There is tremendous buying power on the sidelines planning their buy moves....

Saleem

standardshigh said...

Hi Saleem,

I agree, the market was not weak today and did not fold over. Futures are still positive tonight. We could get a nice lift as options expire on Friday.

Best Regards

Anonymous said...

Need to hold 742 or we go lower.

madmax said...

HURRAY
So far holding 742

Market is see sawing as I predicated! Deer in head lights.

GE holding here at $9.65 good volume to many sellers IMHO.
IF it hits $9 I am jumping

My DSX is in the doldrums like all the tankers
Best to all

Stocks100 said...

Hi Madmax,

Deer is too fast for any headlight..

GE @ under $9 is a good buy....

RSI needs to be checked....

BDI was Down 84 to 1974 today....BUT

GNK is coming back...AGAIN !!!!

Saleem

madmax said...

SALEEM

GNK is a MT winner in MHO

I just like my DSX and FRO. MON is ramping up nicely and I love it

at 11 DC time market is see sawing a lot Any bets on a green close ---for St Patricks Day?? smile

Stocks100 said...

Hi Madmax,

Nasdaq has a very good chance of closing GREEN......

Not sure about Dow......

Saleem