Another Day, Another Disappointment…or 3 or 4
They can say
that JDSU’s inclusion in the S&P siphoned monies out of other S&P
stocks, contributing to Wednesday’s markdowns. Or they can say that it was
disappointing earnings-related news that did it.
Ho-Hum
Not a
particularly impressive day in Nazland. Volume was lax, and not the pick-up
you normally expect on a Tuesday.
Slop
Chunky gashes in a number of the
leaders. Shoddy action in a couple of our Group
of Seven, SDL and Corning.
Just Another Summer Friday
Despite the
red tint to the averages and most leaders Friday, what selling there
was came on ebbing activity.
The Pitch Is Back
And the
reversal reverses. Good volume, good price movement, good
leadership, good finish.
The Red Sea
Everything that
matters was drenched in red ink
Wednesday.
The Breather
For
three-and-a-half days of more-or-less, straight-up trade, the market made a
few people forget that we’re still in a three-steps-forward,
two-and-a-half-steps-back trend.
The Subsurface Groove
On the
surface, not a particularly impressive
session in the Naz, given the 0.7% rise in the Comp and the 0.5% climb in the
NDX.
You Gotta Believe
I’m reminded
of ’69, when a certain team that no one believed in went
on to win the World Series.
Days Of Yore
Thursday
was the first day that felt like the good ole days.
Glamour Show
The
conspicuous glamours pranced all over
the tape Wednesday, leading the Naz out of its three-week trading zone, and on
brisk activity.
Mixed Grill
A mixed day, but negative on
balance when you consider the Naz’s distributive behavior.