Online Stock Trading | Stocks Get Sold Hard!

Stocks Get Sold Hard!


Filed Under Market Commentary | 2 Comments

It didn’t take long for the euphoria of the nationalization of FNM and FRE to wear off.  Stocks simply fell apart as NASDAQ volume was higher and NYSE volume was essentially flat compared to Monday.  It is clear as day the trend is down and what is making it worse is nationalization of the entire financial system in the United States.  We are now seeing breakdowns in AAPL, RIMM, BIDU, and GOOG continues its demise despite is low price/earnings.  We are far from seeing the end of this decline, Tuesday’s action proves we are still in a downtrend.

The market wants to test the July lows and the NASDAQ will want to test its March lows.  Its not the time to be getting long this market.  I will continue to wait and stay patient as I know at some point we’ll turn around.

Enjoy

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2 Responses to “Stocks Get Sold Hard!”

  1. ezineaerticles » Blog Archive » Stocks Get Sold Hard! on September 10th, 2008 10:24 am

    [...] Original Market Speculator [...]

  2. Stocks Get Sold Hard! : Monster Stock Trader on September 10th, 2008 8:03 pm

    [...] Stocks Get Sold Hard! Share and Enjoy: [...]

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