Pluses and Minuses
The positives are:
- We are seeing heavy put buying and the market is holding in relatively well.
- We are oversold in the short term (but not by my favorite measure)
- We are sitting right above Friday's lows, which should act as support.
The negatives are
- The market has until the end of the week before it is maximum oversold by my favorite measure(10 Day moving average of NYSE Advancers - Decliners)
- There were no major cash M&A deals announced over the weekend
- The insider selling window opens up at many companies this week.
- Most people believe this is just a correction.
1 comment:
I thought a lot of people believe is a correction in the works??
(yeah after we are already down 5%)
Anyways more pluses...
AAPL, the Jesus Christ of stocks
Banana/Bazooka Ben, the market sugar mac daddy daddy mac pimp gigolo
Fed minutes or some type of announcement I forget what it is.
More good earnings from industrial companies
But I'm still not liking the action today, very anticlimatic.
Bulls lost their balls.
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