Today's Trading, Monday, Aug 10
posted on
Aug 10, 2009 10:49AM
Hello to all of the Lurkers, and a new week of trading...
On NYSE - NAK sp still in downward part of of cycle. Below lower BB and techs indicate more pain to come. Half of a stock's move is the sector and the Market... and with the sector and gold dow, this is normal. However, in this Market, things can turn on a dime.
Dow is currently down about 10, but could be going into a down part of the cycle. Techs are very strong still even after the run. Banks are mixed as is most of the rest of the Market. Gold miners down as are the recession proofers (AIPC, FT, PEP, etc.). Appears to be a lot more faith in the Market at this point.
Gold hit pretty hard at open of NYMEX. However, unlike Friday when it came back a bit, it seems to be sticking. Indicates the Market has investors interest moreso at this point. Currently running about $945'ish.