Three Steps And A Cloud Of Dust
The
three-steps-forward-and-two-and-a-half-steps-backward
market continued Monday.
Like A Sore Thumb
The familiar names had their way with
the tape Friday
So Many Points, So Little Time
When you
consider that the Naz romped to a 34% gain in the span of just four
weeks off the May 24 low, you realize that it came a long way in a short period
of time.
Chip Dip
A 9% drop in the SOX and a 4% fall in
the NDX are never anything to just sweep under the rug.
Hidden Meaning
Though
Monday’s scrawny volume was meaningless in the grand scheme of
things, the underlying accumulation in many speculative growth-stock glamours
wasn’t.
All’s Well That Ends Well
A nifty way to end H1.
Playing Coy
In all, another day that tells us
little about the market’s true intentions.
Right Stuff
The right
stuff in most of the right areas Wednesday. That meant markups for the bells,
glamours, bios/genomics, and most of our Group of Seven.
A Matter Of Time
The message
over the past week has been that the technology complex simply needs
more time to rebuild and mend the technical damage done from March through May.
Encouraging, Inconsequential
Tough to draw much of a conclusion Monday, what with turnover so skimpy. Nevertheless, the signs were
encouraging.
In Tape We Trust
Make no mistake. There is still a
great amount of uncertainty in this market, the recent lush gains in many techs
notwithstanding.
No Silver Lining Here
It was tough to
find anything constructive about Thursday’s trade.