Online Stock Trading | Stocks finish the day with sizeable gains although volume eased and oh yeah the Dow closed about 14,000 for the first time

Stocks finish the day with sizeable gains although volume eased and oh yeah the Dow closed about 14,000 for the first time


Filed Under Market Commentary |

The Dow Jones Industrial Average closed at an all time high of 14,000.41, the first close above 14k in its history.  Small Caps and the NASDAQ lead the way finishing higher by .76% and .84%.  NASDAQ volume did finish higher by .4% but, NYSE volume slipped 15%.  Suggesting insituitions are simply not involved with NYSE listed stocks.  The lovefest is occuring with Technology favored NASDAQ. 

The theme has remained that price action is suggesting more upward movement.  To a lessor extend volume has confirmed this seen with today’s action in the NASDAQ.  I am still in the camp that this will continue, profits remain strong and the economy will continue to march on.

After hours today, GOOG missed earnings by a penny or 3 pennies depending on what estimate you are looking at.  Earnings expectations is a dangerous game to play.  Although GOOG missed by pennies it certainly doesn’t mean they are collapsing.  I would expect to see GOOG remain in its uptrend even after its afterhours trading today.

Has anyone seen any market commentary that has not included the Sub-Prime issues?  I can not find any commentary that doesn’t at least mention it.  What this is telling me, there is no real issue.  Issues do not explode if you know about them, nor do they come as a surprise.  You better believe money managers are positioning themselves to avoid a disaster caused by Sub-Prime loans.  Nor in any known-issue do you see it rarely come to life. 

I will be heading off on vacation to see family, I will do my best to continue to post so make sure to come back!  Don’t forget to leave comments as you come through here!

Enjoy

Market Speculator

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Comments

5 Responses to “Stocks finish the day with sizeable gains although volume eased and oh yeah the Dow closed about 14,000 for the first time”

  1. Author_Ego on July 20th, 2007 12:10 pm

    Enjoy your vacation. Some guys just have it plum easy.

  2. Gio on July 20th, 2007 2:29 pm

    Thoughts on AFSI?

    Weren’t they #1 on IBD 100? Where do they go now…

  3. Market Speculator on July 20th, 2007 4:35 pm

    Hi Gio!

    AFSI, no good, close below the 50dma on large volume. Best to move on.

    MS

  4. Gio on July 20th, 2007 7:49 pm

    Ok, I thought so. I’m thinking about moving on to FTK… what you think? It has fallen a bit after split.

    What do you think about that shipping/transportation sector, especially the ones that are exposed to transfering commodities? Does IBD have a category for them? I think they go higher. The stocks I track are impressive… EXM, SSW, HRZ, GNK, DRYS, RAIL, BNI, CNI. Anyway, tell me what you think if you get a chance over the weekend.

    mucho mahalo… GiO

  5. Market Speculator on July 21st, 2007 11:50 am

    Gio!

    FTK is no good, look at all the downside volume. Will take some time clear out this action.

    When Railroads and Transportation stocks start leading we know the end to this bull is near.

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