Online Stock Trading | Markets were green with envy

Markets were green with envy


Filed Under Market Commentary |

Market ended the day higher with the Dow Jones leading the way. The FOMC comments did not spook Wall St while the GDP initial 4th quarter results were better than expected. Volume rose across the board but one group did stay silent. All in all, a decent day for the markets.

The IBD 100 failed to muster any type of rally. The index lagged significantly only rising .2%. In addition to, the IBD New America index only rose .1%. Normally, we’d like to see these indexes lead the market on an up day. Not all is lost but this is another yellow light that is on. Do not get discourage, this could easily turn around. We need more than this to see a correction.

Distribution days have lightened up to 2 a piece for the Nasdaq and S&P 500. The past few weeks we have seen a rollercoaster for the markets.

Globalization of the markets are here. The Tokyo Stock Exchange (TSE) and NYSE came to an agreement and look for the NYSE to buy a significant stake in the TSE once the TSE comes public. There is a growing need to have liquid 24 hour markets and this merger is just another step to this path.

GOOG reported great EPS however sales weren’t that great. Although GOOG traded down in after hours and is indicated lower this morning watch its action. GOOG is a big technology gauge for the market.

Happy Trading
Market Speculator

marketspeculator@gmail.com

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Comments

4 Responses to “Markets were green with envy”

  1. Gio on February 1st, 2007 3:51 am

    Hi MSpec…

    Green indeed. I was a little disappointed that my stocks weren’t. Do you trade any Chinese stocks? What’s your thoughts on all those high flying Chinese ADRs.

    I live on Oahu, the melting pot of the Pacific. The weather is ugly.

    -gio

  2. Market Speculator on February 1st, 2007 6:49 am

    Hi Gio!

    Where in Oahu? One of the Hawaiian Islands I have yet to visit! My wife grew up there for 10 years. Weather ugly? Come to the Northeast, LOL. I hear March is the worse time of year to go to the islands.

    I have yet to trade in China ADRs. Many of them look real good. Just have not pull the trigger on any of them.

    Which ones are you looking at in particular?

  3. Gio on February 2nd, 2007 2:56 am

    You haven’t visited Oahu, and yet you’ve visited the other islands? Shame on you! It’s the BEST one. Okay, maybe I’m a little biased. I live a minute away from Pearl Harbor and the Aloha stadium. We’re a little spoiled.. “bad weather” means a few clouds in the sky.

    Right now I only have one Chinese ADR, Mindray Medical (MR). I used to have XING but got out too early.

    BTW, good choice in finding a girl from the islands. Once again, we have the best.

    -Gio

  4. Market Speculator on February 2nd, 2007 7:12 am

    XING held its 200dma…MR i like except for the trade on Wed. Not exactly what you want to see.

    one I really like is EPAY.

    I’ll get to Ohau some day.

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