Dr. Kris'  Instablog

Dr. Kris
Send Message
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
My company:
Stock Market Cook Book
My blog:
Stock Market Cook Book
  • Intraday Market Notes: Semis On Collision Course -- Sept.24 0 comments
    Sep 24, 2012 4:42 PM | about stocks: CORN, JJA, NIB, SOXX, SMH

    3:55 pm ET: Although it appears as if most of the major averages will be closing in the red, there are some rays of sunshine for the bulls. First off, the Dow Transports (DTX), generally considered a leader in market movement, held its 490 support level due to some nice advances in the flagging railroads. This index will be closing in the green, thank you very much.

    Secondly, while the VIX opened the day with a big advance to the upside, it steadily inched its way down. This bullish move was countered by the rise in the Trin (they typically move together contrary to the direction of the market), but even here, the fact that the Trin was trading over 1.7 midday turned out to be a contrarian sign. Putting this all together means that tomorrow's open could well be to the upside.

    In other news, we're seeing some softness in the so-called soft agricultural commodities. The following agricultural etfs all broke support levels: Corn (NYSEARCA:CORN) below $48, Cocoa (NYSEARCA:NIB) below $34, and Agriculture (NYSEARCA:JJA) below $62. A Goldman Sachs analyst was noted in a Bloomberg article today projecting weakness in the ag space through 2013 (except for livestock).

    Although most sectors were taking a bit of a breather today, the semiconductors were finding no love at all. But that's not so unexpected as analysts are slashing pc demand. Both semiconductor etfs (SOXX, SMH) broke support levels but the most pain was felt by Dell computers (NASDAQ:DELL) whose stock continues to hit new lows. It broke major $12 support a month ago and at $10 a share it still has a ways to go to reach $8 major support. All you bears take notice!

    Note to Subscribers: There are two new Stock Darlings.

    Stocks: CORN, JJA, NIB, SOXX, SMH
Back To Dr. Kris' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • De-ranged: Livestock etn $COW breaking recent support to hit another all time low (post 2007 ipo).
    1 day ago
  • Risk-on rules! Breaking out to new yearly highs--Tech related etfs $XLK $ROBO $PNQI $FDN $SOCL $SMH $SOXX; Med devices $IHI, Gaming $BJK.
    2 days ago
  • FWIW: Gold volatility $GVX at lowest point in over a year. Unclear (to me) what it portends--maybe an impending bounce in the metal..?
    2 days ago
More »

Latest Comments

Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.