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Millionaire Now! by Larry NusbaumThis blog is based on the organizational principles found in my new book, "Millionaire Now! - A Financial Toolbox with Seven Steps to Wealth". |
Gains Fade In Late Trade
Posted on 12/19/2006 08:18 AM | Link | Post Comment
The major averages opened Monday's session with a positive bias, but then they gave back their gains and sank into the red in late trade. Volume totals on the exchanges, as expected, were lower than Friday's quadruple witching-inflated totals. It is usually encouraging to see lighter volume as the major averages pullback. However, in today's case it was disconcerting to see poor breadth as decliners outpaced advancers by a greater than 2-to-1 margin on both exchanges. Meanwhile, the initial gains faded in the afternoon, and the major averages ultimately closed with modest losses
There were slight positives for the Bank Index ($BKX +0.30%), Semiconductor Index ($SOX +0.12%), and the Healthcare ($HMO +0.06%) group, however most groups ended Monday's session with losses. The energy group led decliners as the Oil Services Index ($OSX -3.88%) and Integrated Oil Index ($XOI -2.75%) fell considerably. The Gold & Silver Index ($XAU -1.63%) also lost ground. Weakness in the Retail Index ($RLX -0.51%) and Broker/Dealer Index ($XBD -0.23%) added to the maket's negative bias.
Market Expectations from Dr. Brett:
Weakening Market - Monday's decline resulted in 967 stocks making new 20-day lows. That's the highest number since early November. Moreover, stocks with significant downside momentum now outnumber those with significant upside momentum by about 4:1. The weakness isn't apparent in the Dow 30; rather, it's the small and mid caps that are suffering. It is vitally important to recognize these regimes: you'll get the most out of a good trade if you're also trading the index that maximizes the anticipated move.
Monday's Top Biotech and Medical Stocks from 24/7 Wall St.
Pre-Market Stock news (DEC 19, 2006) from 24/7 Wall St.
Monday's biggest stock gainers and decliners from MarketWatch
Dr Brett aks: Is A Trending Bull Market Due For A Fall?
Housing Bubble and Real Estate Market Tracker
on Dec 19th, 2006 in Market Overview by Judy Weil
There were slight positives for the Bank Index ($BKX +0.30%), Semiconductor Index ($SOX +0.12%), and the Healthcare ($HMO +0.06%) group, however most groups ended Monday's session with losses. The energy group led decliners as the Oil Services Index ($OSX -3.88%) and Integrated Oil Index ($XOI -2.75%) fell considerably. The Gold & Silver Index ($XAU -1.63%) also lost ground. Weakness in the Retail Index ($RLX -0.51%) and Broker/Dealer Index ($XBD -0.23%) added to the maket's negative bias.
Market Expectations from Dr. Brett:
Weakening Market - Monday's decline resulted in 967 stocks making new 20-day lows. That's the highest number since early November. Moreover, stocks with significant downside momentum now outnumber those with significant upside momentum by about 4:1. The weakness isn't apparent in the Dow 30; rather, it's the small and mid caps that are suffering. It is vitally important to recognize these regimes: you'll get the most out of a good trade if you're also trading the index that maximizes the anticipated move.
Monday's Top Biotech and Medical Stocks from 24/7 Wall St.
Pre-Market Stock news (DEC 19, 2006) from 24/7 Wall St.
Monday's biggest stock gainers and decliners from MarketWatch
Dr Brett aks: Is A Trending Bull Market Due For A Fall?
Housing Bubble and Real Estate Market Tracker
on Dec 19th, 2006 in Market Overview by Judy Weil
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