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Dr. Kris
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Dr. Kris hails from the land o' lakes, beer, bratwurst, and Bucky Badger. She traded in her cheese hat for a propeller beanie and has never looked back. She has two degrees from MIT because one just wasn't enough. Her life goal was to figure out the universe and having done that (at least to her... More
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  • Intraday Market Notes: Media Madness -- Sept. 20 0 comments
    Sep 20, 2012 3:50 PM | about stocks: NXST, CMCSA, SPGI, VMED, GCI, TWX

    3:40 pm ET: What was so surprising about today's market action was not the fact that the economic data released earlier reflected the global slowdown but that this news hadn't already been priced in. Following the opening bell, the major averages plunged to support levels and luckily for the bulls, those levels held. The major averages are still clawing their way back and it appears as if they actually might close in the green except for the Transports (DTX) which are having a harder time.

    Both the VIX and the Trin are falling from their earlier highs lending conviction to the bullish case. Buying pressure is increasing as the positive VWAPs are outstripping the negative ones by roughly a two to one margin (+70 to -35). Action in stocks has been very bullish with a lot of attention today being focused on media stocks, especially those hitting new highs: CMCSA, CMCSK, GCI, MJP, NWS, NWSA, and NXST. Note that this is part of the continuing sector rotation that we've been noting. That's all she wrote for now.

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