CROX Helps Stock Indexes Gap Lower As They Continue To Selloff To The LOD at the EOD On Higher Volume
November 1, 2007 | Leave a Comment
Stocks gapped lower thanks to a negative sentiment off the CROX swoon and the expectations that the Fed had no reason to cut rates anymore. This seemed to weigh on the market and many stocks took very large hits. The worst was that the market according to my charting software sold off on higher volume marking a distribution day for the Nasdaq and the NYSE, SP 500.
The good news about the selling is that most of the wide selection of my current holdings had very normal pullbacks. Some did so on higher volume and I did have quite a few partial sells. But still less than 10 stocks were complete sells signaling that it wasn’t horrible. Even the recent longs I have taken are holding up, though they are not racing higher like they should be. It is still better than selling off, which most did not. Overall, this has to be taken as a slight positive. If it was really that bad, trust me, I would have had to have dumped around 10-20 stocks.
It was around 7-to-1 decliners over advancers on the NYSE which had a kind of severe selling feel to it. This horrible breadth is normally seen at the end of a decline. Not the start. 25-to-6 was the ratio on the Nasdaq, which confirms the wide margin on the NYSE. This along with the put/call racing up to .94 on this decline has the feel that the majority of the selling is in the books.
Worden - TeleChart Gold
November 1, 2007 | 2 Comments
Telechart is the only charting program for me. After using several different other services before signing up to Telechart in 1998, I had no idea what I was missing. The ability to scroll through hundreds and hundreds of charts in minutes looking for the best patterns is worth the price alone. The clarity of the charts and the ability to switch time frames and zoom in levels with one keystorke are other features that saves me hours a day when searching for stocks. The most important feature was the ability to create a PCF and easyscan using simple criteria that I want to see in my charts. If you can think of it, Telechart has it. But if you want to know the best thing about the product it is the price. Telechart offers you way more bang for your dollar than any other service out there. If you are not using Telechart, I am not sure how you can trade for a living. Make the switch and you will see why Telechart has been voted the best stock market software for under $500 a year for the past 14 years by readers of Stocks & Commodities Magazine.
For more information click here Woden Telechart 2007
-
Recent Posts
- Late Day Selloff On Lower Volume Shows The Bulls Are Not Ready To Run; A Test Of The Lows Might Be Needed To Get A Real Bounce
- Nice Rally Today Too Bad It Was On Below Average Volume
- Stocks Rally On Mixed Volume As Yet Another Day Of Insane Volatility Comes To An End
- If You Do Not Give Up, You Will Create Great Financial Wealth
- Stocks Resume Selloff As Distribution Day Rattles Investors Who Bought Last Weeks LAME Rally
-
-
Tags
accumulation dma nasdaq 100 lows commentary stock IBD leadership bulls volume final hour Cash closing bell big boys bear markets indexes Nasdaq bad news gap selling bear nassy selloff aapl breadth support chart accumulation distribution sp 500 speculator NYSE bull CANSLIM downside stocks intraday market vix energy longs pullback djia bottom money stock market uptrend distribution hod losses rally
