For stock price watchers, today is a significant day. Most stocks and indexes opened very weak (no surprise looking at the negative sentiment these days) but during the market session, they have shown a nice rebound and close above previous day's High prices. Volume was also very nice.
To me this shows that there was nice buying by informed sources. Dollar is strong, Oil is dropping, stock prices are attractive, Mortgage rates have dropped significantly. So if you put aside the FNM, FRE story, looks like some circles are taking this opportunity to get into market. There is no inside information I am talking about here. This is what prices are telling me today.
Look at the chart of Google. It is a nice U TURN (Buy) signal.
APPL, Apple, same story: Nice reversal today.
so keep an eye on today's reversals with stoploss at today's low price.
Some other stocks showing rebound are SBUX, Airline stocks, LULU, SAP, MSFT, YHOO, WLP, MEDX...
To me this shows that there was nice buying by informed sources. Dollar is strong, Oil is dropping, stock prices are attractive, Mortgage rates have dropped significantly. So if you put aside the FNM, FRE story, looks like some circles are taking this opportunity to get into market. There is no inside information I am talking about here. This is what prices are telling me today.
Look at the chart of Google. It is a nice U TURN (Buy) signal.
XLK- select spider- U TURN with nice jump in volume
APPL, Apple, same story: Nice reversal today.
so keep an eye on today's reversals with stoploss at today's low price.
Some other stocks showing rebound are SBUX, Airline stocks, LULU, SAP, MSFT, YHOO, WLP, MEDX...
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