| Stocks finally bounced on Friday, as buyers stepped in after five straight down days.
The ISDEX http://www.wsrn.com/apps/ISDEX/ rose 6 to 158, and the Nasdaq gained 36 to 1818. The S&P 500 rose 16 to 1096, and the Dow surged 116 to 9744. Volume declined to 1.37 billion shares on the NYSE, and 1.79 billion on the Nasdaq. Advancers led by 20 to 10 on the NYSE, and 23 to 11 on the Nasdaq. Online Swing Trading - Trading Dead Cat Bounce::
trading technical analysis by MrSwing: Stock Options Strategies for Nasdaq 100 Finally a small push up, a bounce, but lasted only a few days before it
http://www.mrswing.com/artman/publish/SwingTracker_stock_sing_Dead_Cat_Bounce.shtmlHOME |
MySA.com: Columnists::
David Hendricks: If stocks fall further, theyll bounce higher Yippee, stocks finally and officially will be on sale! On The Web:
http://www.mysanantonio.com/columnists/stories/MYSA081607.01E.hendricks.29d5fa8.htmlHOME |
Qualcomm fell 4% on accounting concerns, but finished 3 points off its low for the day.
AOL rose 7% on news of insider buying.
Dell managed to finish unchanged despite analyst comments that it could face a weak first half. The company reports earnings next Thursday. Some favored precious metals stocks::
Whether or not stock bulls capitulate and present a buying opportunity, it is a bear market bounce (BTW, the Trannies are finally breaking down from the
http://www.bestwaytoinvest.com/stories/some-favored-precious-metals-stocksHOME |
Corning surged 16% on comments that it expects revenues to improve this year.
Sun Microsystems rose 5% on a Merrill Lynch upgrade.
TriQuint and GlobeSpan Virata rose after topping estimates, but EDS fell on accounting worries.
Some technical comments on the market: Housing sector bounce may be turning into a trend - MarketWatch::
the media and even the Federal Reserve seemed to finally get comfortable with know it, theres a bounce in homebuilding stocks, and were already talking
http://www.marketwatch.com/news/story/housing-sector-bouncA-425B-9F93-3ABCD431B383}HOME |
Gartner: Wheat market gets a bounce::
over the last three weeks, wheat finally found buying that lasted more than two days. The plantings and stocks report was quite a shocker for the marketplace.
http://www.agriculture.com/ag/story.jhtml?storyid=/templatry/data/1144094187214.xmlHOME |
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A nice bounce today, but on declining volume. Still, it's a start. So far, the Dow (first chart) is holding 9500-9600 support, and the S&P (second chart) is holding the 1080 area nicely. A break of those levels would be a sign that the next leg down has begun. The minimum target for this decline remains 1052 on the S&P. One trader who follows linear regressions noted that the Nasdaq, the S&P and the Wilshire 5000 pierced their 13 week lower lines today, a bearish development that suggests an eventual retest of the September lows for the market. The S&P closed right under 1098 resistance, and 1110 just above that looks very tough. The Dow closed right at 9750-9775 resistance. 9825-9860 is next and then 9900. If the Nasdaq (third chart) can get through 1830, it could be headed for 1860-1870. 1745-1768 is critical support.
Special report: For a free introduction to technical chart patterns, visit http://www.internetstockreport.com/guest/article/0,1785,2571_500051,00.html.
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Stocks Finally Bounce