Closing hour:
Forget the window dressing noise and look at what is really going on. NQ/QQQQ/NDX hitting the July highs, on the strength of only two stocks, AAPL and MSFT. The COMP is not following and neither is the broader market including, to a lesser degree, small caps. Semis and financials are down and AD lines are negative. This is a perfect short set up at highs for techs, as far as I'm concerned. Maybe one more push higher, but cost averaging into this should get you a trade down to around NQ 2060.
Oil did the expected drop as CL gets large commercial hedgers moving in short to lock in price.
Forget the window dressing noise and look at what is really going on. NQ/QQQQ/NDX hitting the July highs, on the strength of only two stocks, AAPL and MSFT. The COMP is not following and neither is the broader market including, to a lesser degree, small caps. Semis and financials are down and AD lines are negative. This is a perfect short set up at highs for techs, as far as I'm concerned. Maybe one more push higher, but cost averaging into this should get you a trade down to around NQ 2060.
Oil did the expected drop as CL gets large commercial hedgers moving in short to lock in price.
This entry was posted
on Tuesday, September 25, 2007 at 9/25/2007 03:45:00 PM.
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