Jon Klaus; RE:" BIG volume, BAD breadth "
>What is your take on the BIG volume today ?
>
>Nasdaq well over half a billion shares half through the day.
>Wintel seems to be driving some of it, but why ?
Ms.Softie's earnings after close today ?
Good observation there, Jon. Divergence between DJIA/S&P and NASDAQ is also quite apparent. All I'm seeing today are earnings-related pops in a few issues, plus a frenzy of buying in the TechStock sector. A few issues like MSFT INTC IBM and LU can keep the Major Market index above water, but are not advancing it; ie., where's the rest of the freight ?
The USDollar has tanked, (appears to be stabilizing today), gold is soaring, oil is flat-line, and the FED is talking about overheating.
FWIW, I have the DJIA target at 9300-9350, tops; so my interpretation is that this is the last frenzy of a really sweet, almost linear Bull Trend. ie., I think it is more likely that the DOW will re-test 8900 - 8770 before it visits 9500.
Hitch your $ to a rising, momentum play and use a trailing stop (^_^)
(Rotate your profitable LEAPS further out and deeper in the money ???)
BWDIK ? -Steve |
