Online Stock Trading | Markets Creep Lower

Markets Creep Lower


Filed Under Market Commentary |

10:55am EST Stocks drift lower on lighter trade, mulling recent news.

Stocks are finding tough footing as we find ourselves trading in the RED. Volume is considerably lower at the moment, compared to Friday’s trade. MSFT and YHOO continue to dominate the headlines as GOOG weighed in about the possible takeover this weekend. The deal makes much more sense on the MSFT side than it does on the YHOO side. MSFT is desperate to regain Top Dog status in the online world. However, GOOG will continue to dominate for the time being.

I am still searching for stocks with an excellent growth picture with a chart to match! Stocks like BIDZ and SSRX have an excellent growth picture but charts that are a lot less to be desired. These are two stocks to eye as we enter into a market that is worthy of buying interest. Let’s be clear, it will be quite some time for us to have a worthy market for buying. But, these two stocks do have growth they just need to clear the left side of their charts to be notable at some point.

This is quite the dull market, not one to make a lot of money in. I think it is best to ignore CNBC and other news outlets and wait for some accumulation to creep back into the markets!

Market Speculator

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Comments

2 Responses to “Markets Creep Lower”

  1. Nigel on February 4th, 2008 7:41 pm

    I agree with the BIDZ and SSRX call, tough to clear that left side though….Also OXPS is in a similar charting pattern…With the continued volatility and likely flight to options as a better hedge for overall risk/reward OXPS looks to drive better revenue, sales, profit, margins, and 2008 outlook. I cannot see a diminished value or growth for that matter in this environment…more volatility=more trading, and this is definitely a trader’s market right now.
    Also, SAFM, honestly I do not trade this stock currently, but it is trying to break out of a MAJOR BEAR FLAG. If it tops 38, i could be convinced to enter since it is in a major period of potential upside leaning consolidation during a very down trending market. It is a farming stock, and although their incoming prices are much higher, they themselves are a producer of commodoties and will pass these costs onto the cosumer in the form of inflation most likely. Just a thought. I am currnetly short Q’s, NDX, XLF.
    Aloha,
    Nigel.

  2. Market Speculator on February 4th, 2008 9:58 pm

    Hi Nigel,

    Nice Shorts! This market has not put a bottom in yet. The NASDAQ may be a bit closer to a bottom than the S&P but, we still have a ways to go to the downside.

    Thanks for the comment!!

    MS

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