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Closing At New Highs
Posted on 10/04/2006 16:16 PM | Link | Post Comment
The market closed right at session highs. Volume levels grew on both exchanges, making for a solid accumulation day.
Big tech led the way (+2.5%), followed by small-caps (+2.1%). Financials, biotechs, and retail were all strong with 2%+ gains across the board. Tomorrow we get same-store sales results for September, so it will be interesting to see if there is profit taking.
Bond yields were lower on the day, with the 10-year finishing at 4.56%. The yield curve is the most inverted since 2001, and is now signaling approximately 35% chance of a recession (according to Fed reports).
Growth stocks appear to be moving to the forefront, and this rally looks like it has legs. Yes, I am still sitting on more cash that I would like, and will be looking for any near-term opportunity to put more to work.
Takeaway: don't raise too much cash in a market that is making new highs
Big tech led the way (+2.5%), followed by small-caps (+2.1%). Financials, biotechs, and retail were all strong with 2%+ gains across the board. Tomorrow we get same-store sales results for September, so it will be interesting to see if there is profit taking.
Bond yields were lower on the day, with the 10-year finishing at 4.56%. The yield curve is the most inverted since 2001, and is now signaling approximately 35% chance of a recession (according to Fed reports).
Growth stocks appear to be moving to the forefront, and this rally looks like it has legs. Yes, I am still sitting on more cash that I would like, and will be looking for any near-term opportunity to put more to work.
Takeaway: don't raise too much cash in a market that is making new highs
- Will The Streak End At 8?
- Sneak Peak Ahead Of The Open
- The Week Ahead
- A Mostly Flat Open
- Midday Check
Examples
Morpheus Trading - Mon Jul 21, 2008 08:33AM
NOTE: Please click on the charts below to enlarge them if [read more]
NOTE: Please click on the charts below to enlarge them if [read more]
Morpheus Trading - Mon Jul 21, 2008 08:31AM
NOTE: Please click on the charts below to enlarge them i [read more]
NOTE: Please click on the charts below to enlarge them i [read more]
Millionaire Now! by Larry Nusbaum - Fri Jul 18, 2008 08:23AM
U.S. stock futures rebound on Citigroup results"S&a [read more]
U.S. stock futures rebound on Citigroup results"S&a [read more]
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