Tuesday, September 22, 2009
More Down Please
The major market indices closed down Monday with strength in the dollar bringing weakness to commodity stocks. The Dow lost 41.34 points to end on 9,778.86. The SPX declined 3.64 points to end on 1,064.66. We are in the green and are near the top end of our safety zone. We really need to see some more down movement.
Not really much happened today. Although there was selling there was not much. Monday saw mostly positive news, so weak session is being blamed on profit taking. Tuesday's session is likely to be quiet as well ahead of the Fed statement on Wednesday. The bulls are looking for Dow 10,000 while the bears feel stocks are overbought and significant profit taking is in store. Lets hope its the latter.
Until next time.
Not really much happened today. Although there was selling there was not much. Monday saw mostly positive news, so weak session is being blamed on profit taking. Tuesday's session is likely to be quiet as well ahead of the Fed statement on Wednesday. The bulls are looking for Dow 10,000 while the bears feel stocks are overbought and significant profit taking is in store. Lets hope its the latter.
Until next time.
# posted by Paul @ 4:35 AM 
