Support Levels Being Tested

Stocks were down again today led lower by China which had its wost down day in eight years.  The Dow Jones went to its lowest level in nearly six months after patchy economic data and corporate earnings spurred declines last week. The slide prompted heavy selling in European stocks, with the Europe closing 2.2% lower, […]

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Come For The Fun, But Stay For the Performance

Stock indexes fell again, capping a week in which the Dow Jones Industrial Average posted its steepest decline since December, driven by large share-price swings at widely followed companies issuing quarterly earnings reports. Shares of biotechnology companies led Friday’s decline, after Biogen plunged 22% on a soft sales outlook. The biotech pullback countered a 9.8% […]

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Dogs Of the Dow Again

The other day it was IBM, UTX and MSFT that weighed on the Dow, today it was CAT, MMM & AXP. The  Dow lost 119.12 points, or 0.7%, to 17731.92. The leadership in this market appears to be somewhat limited in scope which raises the proverbial “red flag” of caution.  As I’ve said its not […]

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A Little Breather

Investors poured out of technology stocks Wednesday, spooked by disappointing results from Apple Inc. and Microsoft Corp. The retreat pushed the Nasdaq down 36.35 points, to 5171.77 and added to a rotten mood as the rout in commodities including gold and oil continued.  We don’t do much with gold on this site, but it acts […]

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Apple Disappoints on Earnings

U.S. stocks fell Tuesday after weak earnings reports from IBM and UTX dragged down the Dow Jones.  The Dow  declined 181.12 points, or 1%, to 17919.29. The S&P slipped 9.07 points, or 0.4%, to 2119.21, while the Nasdaq lost only 0.2%, to 5208.12. It looked worse than it was, because most of the decline was […]

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More Nazzy Highs

Monday’s gains mark a return for major indexes to record or near-record territory. Receding fears about Greece’s financial situation and some stronger-than-expected earnings reports have bolstered shares in recent sessions. For the month, the Dow has added 2.7% and the S&P 500 has gained 3.2%. So far so good.  Its hard to be negative on […]

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Nazzy Rips , Breadth Suspect

The Nasdaq extended its record-setting run to a second day, boosted by strong earnings from Google. The Nazzy launched to more record highs on Friday. Google had a 16% pop off great earnings and that helped lift things in a big way. The Nasdaq Internet Index, which tracks large U.S.-listed, Internet-focused companies, rose 7.1% this […]

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Tech Is Tight

The Nasdaq notched a record high Thursday, buoyed by a rally in technology shares following a batch of upbeat earnings reports. As I said, the bar is very low for earnings so they are easy to beat.  The market knows this and just bids things up anyway. Shares of NFLX soared 18% today and GOOG […]

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