This September To Remember

[abc1]

Quote from stonedinvestor:


How did we all feel about yesterdays rally?
My view is that Tech is so outperforming it's becoming a dangerous trade in a wy. All day the Nazdog was up and it dragged the other indices along...

How are you deciding outperform ?

The market was buoyed by positive reports about Apple and Yahoo. That's fundamentals and nothing else.

Admittedly the markets retraced today but again on fundamentals, i.e., housing sales 6 yr low and negative reaction to Apple's iPhone price cut.

The 'danger', as you put it, is in the fundamentals and not some notion of too high a level.

Also the NASDAQ had not dragged the other indices along with it, as it was up considerably higher percentage wise than the Dow and S&P.

Finally remember that there probably have been some readjustment of positions from 'risky' financials facing credit concerns into perceived as safer tech stocks.

abc1

 

[abc1]

Quote from stonedinvestor:

Well here we go they started them a bit late it's a race to the finish but we are on the right side of the trade. double bottom and Poof we are bouncing. 2nd wave up now. opposite of yesterday perhaps buying into the close? 10 minutes left.

Wouldn't read too much into this. Late in the session and having been sold massively. Also, highs in between could easily be read as significant resistance.

Either way, tomorrow's another day.

abc1