Market Soapbox 06/27/05
Resistance: DJIA 10600; SP500 1225; Nasdaq 2100; NDX 1550
Support: DJIA 10200 ; SP500 1180 ; Nasdaq 2000; NDX 1475
European and Asian markets were down. Dollar split vs. Yen/Euro, commodities, oil & bonds up. Gold down.
Today's Soohey Pig Pig!! Award goes to me for letting the pig have a quiet day in its poke after a big poking.
Still on the continent and our mission has so far been a success even though the main objective has been temporarily scrubbed. We are waiting for election results, as if they were ever in doubt.
A down day, profit taking on lower volume. Semis and internets stocks are getting pounded. Airlines are getting the sector pump and dump.
Small Caps are getting hurt, but mid caps are clinging. Reits and Utilities up recently with the spector of rising rates = BIG RED FLAG. The DJIA and NDX have gone below support, watch the SP500, MID & RUT, if they go below support, more trouble to come.
Over the next several weeks we will be keeping tabs on energy plays, precious metals stocks and Canroy's. Some nice bargains equal to mid May should be available by the end of July. And perhaps some even better bargains by the end of September.
Remember as previously posted, we will not be so daily while on the continent. For additional reading material, try our topical archive.
We take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Gazprom perhaps? Just my opinion, I could be wrong.
Support: DJIA 10200 ; SP500 1180 ; Nasdaq 2000; NDX 1475
European and Asian markets were down. Dollar split vs. Yen/Euro, commodities, oil & bonds up. Gold down.
Today's Soohey Pig Pig!! Award goes to me for letting the pig have a quiet day in its poke after a big poking.
Still on the continent and our mission has so far been a success even though the main objective has been temporarily scrubbed. We are waiting for election results, as if they were ever in doubt.
A down day, profit taking on lower volume. Semis and internets stocks are getting pounded. Airlines are getting the sector pump and dump.
Small Caps are getting hurt, but mid caps are clinging. Reits and Utilities up recently with the spector of rising rates = BIG RED FLAG. The DJIA and NDX have gone below support, watch the SP500, MID & RUT, if they go below support, more trouble to come.
Over the next several weeks we will be keeping tabs on energy plays, precious metals stocks and Canroy's. Some nice bargains equal to mid May should be available by the end of July. And perhaps some even better bargains by the end of September.
Remember as previously posted, we will not be so daily while on the continent. For additional reading material, try our topical archive.
We take it day by day and keep our eyes peeled to the sky, because it could be a name brand that pancakes us. Gazprom perhaps? Just my opinion, I could be wrong.
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