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  • Playing The Volatility Game, Or Not! SPX, Nasdaq, NVLS, MCHP, ASML, SWKS, APKT ARMH 0 comments
    Jul 12, 2011 9:03 PM | about stocks: NVLS-OLD, MCHP, ASML, SWKS

    The market was very volatile today.  Tech stocks were weak, but, GOOG went against the tide, closing up $6.73 and was up over $12 intraday.  Last night, both NVLS and MCHP disappointed in their earnings reports.  NVLS sank more than 11% while MCHP tumbled more than 12%!  Other weak tech names include:  ASML -5.55%, SWKS -6.52%, APKT -4.13%, ARMH -4.42%.

    The Dow finished down 58.88 points; SPX lost 5.85 points; Nasdaq fell 20.71 points:

    SOXX (semiconductors) was down 2.89%.  GLD (gold) and SLV (silver) traded higher.  USO (oil) also went up.  However, both XME (metals and mining) and OIH (oil services) went down.


    SPX lost 5.85 points to close at 1313.64.  The daily MAs were little changed, but, the MACD fell.


    Nasdaq dropped 20.71 points to close at 2781.91.  It closed below its 10-day MA and the MACD went lower.

    This market is very volatile.  After charging higher for 2 straight weeks, the momentum seems to be shifting to the downside, at least for now.  The market is consolidating a bit here and with July options expiring this week, things are even more volatile.  In a volatile market, it can drive you crazy if you decide to watch the market tick-by-tick.  When the market is moving wildly within a range, sometimes, it's better to sit back and get a bigger picture.  If you're trading, try not to look at the intraday charts so much.  There are members who read 5-minute and 10-mintue charts, or even 1-minute charts.  I think that's just self-torture!  Also, be happy to take quick profits if you're trading the front-month options, for in the next hour, they may be gone.  Further, trade lightly and keep lots of cash.  You don't have to trade a lot just because the market appears to be moving a lot!  Wait for the market to give you firmer signals.  We have two very important earnings coming up on Thursday:  JPM, before the market; and, GOOG, after the market.  The market looks to be setting up for a big move!

    Good night and HappyTrading! ™

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