Online Stock Trading | Nasdaq undercuts 6/14/06 lows, waiting for another rally attempt

Nasdaq undercuts 6/14/06 lows, waiting for another rally attempt


Filed Under Market Commentary |

The Middle East dominated the minds on Wall Street. Tensions in the area frightened oil traders sending oil above 78 dollars a barrel. Fear is building the Wall of Worry higher and higher, time to buy?

Dow Jones Industrial - (1.52%)
Nasdaq Composite - (1.73%)
S&P 500 - (1.30%)
S&P 600 - (1.74%)
S&P 400 - (1.93%)

We just haven’t reached a point where the market has the ability to gain momentum. Fear is not at an extreme levels as of yet. We have restarted, reset our watch for a new market rally attempt. Cash is certainly a great place to be right now. Shorting is an option, however if you did not at least go through the ‘00 market I’d suggest you’d stay on the sidelines and start reading William O’Neil.

See you at: Investors Paradise

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