A Welcome Slowdown
A poor GDP report, a mediocre ADP jobs report and anticipation of what the Fed might say later today have slowed the bulls down today. Research In Motion (RIMM) is seeing a sell-the-news reaction and is a source of hilarity on Twitter. Amazon (AMZN) is fading after a big gap-up open. Breadth is running 1700 gainers to 3300 decliners, which is the worst in a while. Gold and silver are leading, primarily due to the weak GDP reading. Small-caps are the primary laggard.
As I discussed in my opening post, this market has become challenging even for the bulls because there has been so little rest. We haven't had much of an opportunity to buy pullbacks or bases, so I can't say that this action is not welcomed to some degree....87 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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