Dismal
None of the major indices lost too much ground today but it was downright dismal trading. The Nasdaq was the worst of the major indices with a loss of 0.80%, primarily due to weakness in Apple (AAPL), but what was most discouraging today was the lack of strength. The few bright spots were mainly stocks that have broken down recently and were due for oversold bounces.
It has been my contention for a couple of weeks that we are seeing topping action in the market, and a day like today tends to confirm that feeling. While the market did hold, there was little interest in buying and, over time, that sort of action usually drives increased profit-taking....67 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.
