Today we saw the largest losses on the indices in 3 or 4 months. Given the damage done on the Nasdaq today, when AAPL was not down alot, it was surprising to find that the SMH was the best performing ETF in my list. It seems to have found support at the 50 day moving average. I had placed AMAT and KLAC on my "short" list - and that darned KLAC was up more than AMZN today. Go figure.
Some of the worst performing sectors today were steel (SLX), agriculture (MOO), homebuilders (XHB), coal (KOL) and financials (XLF).
Go stretch and do something fun! Tomorrow's another day.
Tuesday, March 6, 2012
Tuesday Noon thread
ASPS mentioned by sub as a Kass favorite. Reported earnings in Feb and you can see what has happened since. This was an IPO in 2009. Present action is around all time high. Average trading volume (90 day) is only 140,000 and options action is "thin." No position here.
Tuesday Morning
IBM. The "other" computer stock. Closed above 200 for the first time on above average volume. As you can see it stayed above my deftly drawn trendline for most of the day, but the more impressive accomlishment was getting above 200 and staying there on a weak day. At this point I think you buy any pullbacks (you know, JBTFD)