The Wrap 10/11/10


Stocks spent most of the session chopping along listlessly with modest gains until a flurry of late selling led to a flat finish. After the close,  GPN was the only notable name that reported.

Six of the ten sectors ended in positive territory led by Telecom (+0.3%), Energy (+0.2%), Tech (+0.1%), Consumer Discretionary (+0.1%), and Consumer Staples (+0.1%). Health Care and Utilities were unchanged, whereas Financials (-0.1%), Materials (-0.2%), and Industrials (-0.3%) were lower.

Tomorrow morning before the open, no economic reports are scheduled to be released.

Tomorrow before the open, FAST is scheduled to report.

It will be a light post tonight, but some names that I mentioned in the Oct 3rd Sunday video continue to get pummeled. Three names to watch from the short side that could still see lower prices are: VMW, GMCR, CRM. Also FFIV on a break of the $90 level could see real trouble. They are getting oversold , but are worth your attention.

One new name for the long side.

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