Online Stock Trading | Small and Mid Caps drive today’s market

Small and Mid Caps drive today’s market


Filed Under Market Commentary |

Dow and S&P 500 ended flat on the day while the Nasdaq finished higher. Volume eased on the S&P 500 and Nasdaq while the NYSE saw its volume tick slightly higher than Friday. Overall, mixed day as Wall Street awaits the FOMC rate decision on Wednesday. Aside from the FOMC on Wed. the monthly jobs report comes out Friday.

A secondary indicator that is useful in the markets is the put/call ratio. It stood at .92 today signalling there is still fear in the markets. Bulls run up the wall of worry and bears slide down on greed. Many traders are still trying to pick the top, buying puts and shorting stocks. The only surprise to the upside I see is the FOMC putting into their language anything that resembles a rate cut. Any hint should be a positive move for the markets. I do not expect them to move rates this meeting however, I do see them possibly cutting the rates back by 25bps (bps=basis points). All speculation and not that I would put any of my money on this analysis. Just a thought.

If you have read me before you know I’m long JSDA. Great day today for the stock, breaking into new price territory. I would imagine we’ll get some buying interest tomorrow. Those who did not buy when they should have will more than likely see they missed a move and hop in late. It may be wise to remove your chips from the table on this stock.

Some great comments today! Please, keep them coming.

Happy Trading
Market Speculator

marketspeculator@gmail.com

Last 5 posts in Market Commentary

Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • del.icio.us
  • Netvouz
  • DZone
  • ThisNext
  • MisterWong
  • Wists
  • Bumpzee
  • StumbleUpon

Comments

Leave a Reply