Stock Market Analysis – 10-12-2009
October 12, 2009 at 10:53 pm · Filed Under Broader Market
Generally positive earnings reports had boosted the market from the local bottom to test new highs again. Once there though, the bottom fell out and now it’s hard to tell whether the reduced holiday volume aided or abetted the late plummet. We’ll find out soon enough though when the market opens tomorrow. Keep an eye on the earnings dates on your watch list since there are a lot of stocks at their 52 week highs now, some deserved and some overhyped. Momentum trades on breakouts (and breakdowns) are great, but don’t forget that you can trade the swings after the corrections too, so don’t lose your patience.
Comments
Leave a Reply