GM and Intel are both going to weigh on the INDU + the fact that JPM and Altria have not set the world alight should give stocks a good jolt today. For me the interesting thing will be to see whether the herd decide to take serious chips off the table today and really let it slide i.e 100-150 sell off or if we go down about 60-70 and then get bid back to the unchanged mark. Today could be a really crucial day in the short term trend. My head says we will find buyers 10550-10600, but fingers crossed I am here at 9 pm looking and 10487.8 down 158!
:arrowl: :?:roguetrader
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Total market volume running ahead of yesterdays pace on the Nasdaq, NYSE also ahead but not as convincingly, jury still out as to whether it will come in higher at the close.
Market internals lack lustre in tha am have picked up significantly NYSE very bullish, Nasdaq bullish.
roguetrader
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If COMPQ closes here it will be the highest close since Jan 2001
this bounce has caught me very ill prepared! Had gone out and saw the dow had bagged 80 quick points and that the dollar had staged a massive reversal. Well, the writing seems to be on the wall. Might start cutting my shorts, I hope you are right User and co., but sometimes you have to save the ammo for another day. got my stops at 10, 730 region. If I get nailed , i get nailed. c'est la vie!
roguetrader
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Nasdaq total volume came in about 20% higher than yesterday, NYSE increased only slightlyroguetrader said:
Racer
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Cramer admits that he made a mistake on INTC; YHOO took his breath away, expecting the co to guide up - he still believes its on a slow track to $42. Jim is bullish on PEP and MSFT.
- Caterpillar Inc. shares surged 4% early Tuesday, with traders attributing the move to Wall Street commentator Jim Cramer's recommendation to investors to buy the stock ahead of earnings due later this week. Cramer said on CNBC television that he expects Caterpillar has had a "blowout" quarter.
Isn't he good 🙄
- Caterpillar Inc. shares surged 4% early Tuesday, with traders attributing the move to Wall Street commentator Jim Cramer's recommendation to investors to buy the stock ahead of earnings due later this week. Cramer said on CNBC television that he expects Caterpillar has had a "blowout" quarter.
Isn't he good 🙄
roguetrader
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Well another impressive performance from the markets today. The early sell pressure was a little more intense this time but regardless the market staged a strong turnaround. Volume surged once again on the Nasdaq market, which enabled the COMPQ to register a closing level last seen in January 2001,.joining SPX at multi-year highs. Still INDU lags though it did manage to close above the June highs. Also of note, the DOW Transports which were also stuck at May - June highs, broke out decisively.
COMPQ still has to take out the intraday year high, after which there are no meaningful near term levels
The VIX established an all-time closing low today and is operating in levels not seen since the early to mid 1990's. Fear has left the building.
Let the good times roll, but keep your eye on the exit. 😉
COMPQ still has to take out the intraday year high, after which there are no meaningful near term levels
The VIX established an all-time closing low today and is operating in levels not seen since the early to mid 1990's. Fear has left the building.
Let the good times roll, but keep your eye on the exit. 😉
China scraps dollar peg, ties to a basket of currencies
Futures spike up 70 points before falling back some. Will this carry through the market open ?
Futures spike up 70 points before falling back some. Will this carry through the market open ?
macbonzo
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Minder said:
Even for pre market, these future movements are pretty extreme.
I think there will be quite a bit of short - covering, now that we have cleared 10660. However, I would not be surprised to see a lot of selling into strength once we settle down post 3pm.
It is very hard to measure the benefits of the Yuan revaluation. I guess we will have to wait and see.
CAT's results are good, as predicted and they lifted guidance.
