Thursday, March 27, 2008
Where Are We?
Apologies again but its been a while since I have last posted. We have no play on at the momement. A lot has happened since my last post, the main thing being Bear Sterns (BSC) went bust...almost...which is a shame because I traded it all the time!
Anyway tech concerns put bearish pressure on stocks Thursday. The Dow ended the session with a loss of 120.40 points to close at 12,302.46. The SPX fell 15.37 points, closing at 1,325.76. And the Naz up 43.53 points, a huge 1.87 percent, to close at 2,280.83.
Google (GOOG) and Oracle (ORCL) had bad results and caused the Tech sector to crash. Economic data was mostly in line with expectations, but crude prices continued to rise on further tensions in Iraq. What was important was that today’s declines took the major market indices below their 50-day moving averages and this could spell trouble for stocks next week if we don’t see a recovery on Friday.
I am keen to get a play on in the next few days so watch this space.
Until next time.
Anyway tech concerns put bearish pressure on stocks Thursday. The Dow ended the session with a loss of 120.40 points to close at 12,302.46. The SPX fell 15.37 points, closing at 1,325.76. And the Naz up 43.53 points, a huge 1.87 percent, to close at 2,280.83.
Google (GOOG) and Oracle (ORCL) had bad results and caused the Tech sector to crash. Economic data was mostly in line with expectations, but crude prices continued to rise on further tensions in Iraq. What was important was that today’s declines took the major market indices below their 50-day moving averages and this could spell trouble for stocks next week if we don’t see a recovery on Friday.
I am keen to get a play on in the next few days so watch this space.
Until next time.
# posted by Paul @ 6:30 PM 
