Tricky Day*

Discussion in 'Trading' started by stonedinvestor, Apr 17, 2007.

  1. Be Careful Out There Folks The Ice Is Slippery!

    > Noticing two favorites of mine are having reversal days FRPT & REFR. Due to over protectionism I am out of both but seeing such good performing stocks go bad holds open the door to me that small caps could get B slapped here. Is that stopping me? No I just bought some ONSM but this type of action often preludes a pullback for the general market stocks a day or two later. Despite the break out and new high and despite the good earnings they may be something going on behind the scenes here on the sell side. We shall see.

  2. Interesting (somewhat troubling) that smallcaps and techs are lagging while the Dow leads the way -- it's not an issue until it's an issue, if you know what I mean. Mo Mo is up overall but there are some "cracks" out there so just use your setups, stops and follow your rules!
  3. I agree, Stoney and FT.

    Today is a very odd day. The Dow is breaking through, and the S&P up, but the advance/decline line is acting oddly.
  4. ByLo:

    Good to see you, my friend! As soon as I posted that, intraday market weakness set in.

    I am like a Marine with his head up out of the foxhole! All these solar plays down the drain I felt this coming yesterday with the outsized gains, I was ready to ride it out I like my Canadian Solar (which is Chinese CSIQ) but ESLR just issued downside guidance. Got beeswaxed with STKL this morning bought and had the stock yanked out from under me. There action both ways and I think the only people making money are the market makers. I don't trade JSDA but down $4. Bought ONSM in my wife's IRA on the breakout I'm sure she's underwater. There is a game of tug of war going on here and I am but the tugboat caught in the frothy waves.

    stoney at 2:27 so far not smoking not drinking...

    >("Call me Ishmael.")
  6. I had a 124,000 down spike in my core that literally had me on my desk. Recovered after 40 seconds.
  7. Get me her name! Nice job recovering.
  8. The markets had a back-and-forth session but ended up positive once again. The day started out with positive pre market futures, but the market didn't do much more than open firm and then immediately sold off. However, the sell-off was brief and held support. They rallied into mid morning when they reached the highs for the day. A strong sell-off occurred midday that tested the lows successfully. Then they rallied back to try to retest the highs but fell short, and rolled over but held & backed and filled into the close.

    Net on the day the Dow was up 52 ½, the S&P 500 3, and the Nasdaq 100 nearly 1. The Philadelphia Semiconductor Index (SOXX) was down 2.50 today, and that's what held Nasdaq back from bigger gains.

    The technicals were negative today on advance-declines by 106 issues on New York and by 570 issues on Nasdaq. Up/down volume was nearly dead-even flat on New York on total volume of about 1.5 billion. Nasdaq traded just short of 1.9 billion with up/down volume just slightly to the downside.
  9. Come on guys. You have multiple up days in your stocks then they pull back and you want to say that we are on the verge of a reversal. Both FRPT and REFER had a few consecutive up-days and appear on the chart to have reached a natural inflection point.
  10. Mvic


    This is text book stuff. Keep the major index working while you unload your small caps to people who are fooled in to thinking the market is still strong. It is a risk aversion trade too, get out of the less liquid stuff in to the very liquid and easy to hedge big caps and indeicies. Finally, if margins are being squeezed and falling as is the CW the big caps are a better place to be than the small caps. We just saw this movie a month ago, not to mention countless times in the past.
    #10     Apr 17, 2007