MyHappyTrading's  Instablog

MyHappyTrading
Send Message
MyHappyTradingTM is a social network site with a focus on the global financial markets. It is an online community where you can share your thoughts and your investment/trade ideas with the community and the network that you build. Our Basic Membership is FREE. MyHappyTradingTM provides you the... More
My company:
My Happy Trading.com
My blog:
My Happy Trading
  • Market Testing Support: SPX, Nasdaq, CIEN, FNSR, NFLX, POT, CF, AGU, MOS 0 comments
    Sep 1, 2011 7:38 PM | about stocks: CIEN, FNSR, NFLX, POT, CF, AGU, MOS

    On Thursday, in my evening article, I said, "We might need to see a couple of days of mixed market and wait to see if the above-mentioned resistance levels have turned into support."  What we saw on Wednesday and today was exactly that.  It has been a couple of volatile days.  Overall, stocks held up pretty well, though.  We saw a little more weakness today, ahead of the unemployment report tomorrow.

    The agriculture stocks (POT, CF, AGU, MOS) took a quick fallback yesterday, but, were able to hold their grounds today.  CIEN popped more than +20% after reporting a better-than-expected quarter.  After the market, FNSR followed with a strong quarterly report of its own and a +8.7% rise on its stock price.  However, NFLX fell 8.7%, more than $20, after Starz Entertainment announced that it will pull its content from NFLX.

    The Dow was down 119.96 points; SPX fell 14.47 points; Nasdaq dropped 33.42 points:

    Most sectors were down today.  XLF (financials) fell 2.24%.  XME (metals and mining) slipped 1.86%.  Both FDN (internet) and SOXX (semiconductors) were off about 1.6%.  SLV (silver) and GLD (gold) were barely in the green.

    SPX

    SPX fell 14.47 points to close at 1204.42, above 1200.  The 10-day MA and MACD went up.

    Nasdaq

    Nasdaq lost 33.42 points to close at 2546.04, just below 2550.  Its 10-day MA and MACD were higher.

    While SPX managed to close above 1200, Nasdaq closed just below 2550.  We have been sitting on mostly cash for the past couple of days.  The market has been trading in a tight range.  We'll have to wait and see how the market reacts to the unemployment report tomorrow, and whether the above-mentioned levels will hold (SPX 1200; Nasdaq 2550).

    Good night and HappyTrading! ™

    Sign up for FREE membership!

    Stocks: CIEN, FNSR, NFLX, POT, CF, AGU, MOS
Back To MyHappyTrading's 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

StockTalks

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.