Online Stock Trading | Market turns negative at the end of the day

Market turns negative at the end of the day


Filed Under Market Commentary |

Unimpressed. Even today’s weak attempt at a rally failed late in the day. NYSE comp index did finish higher today +.16, the only bright spot. Where do we go from here, who knows and why try to guess. Short-term we must sell any laggards ie PRFT in our portfolio and remain in cash as much as possible. We aren’t ready to short yet, just haven’t confirmed that we are in a longer term downtrend or we are just consolidating waiting for a big rally. In the coming days we’ll get our confirmation whether or not we will continue to head south. Pay close attention to 200dma and 50dma, how do we react around those levels will clue us in on where we are headed!
I do plan on coming back later on tonight w/more commentary.
MktSpec

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