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  • Friday, December 31, 2010 End-Of-Day Update 0 comments
    Dec 31, 2010 9:30 PM | about stocks: DIA, SPY, QQQ, APOL, SH, NUVA, CSCO, UUP, EUO, PSQ, RWM
    Stocks finished the last trading session of 2010 mixed on below average trade.  There are no changes to the support/resistance levels on the DJIA (NYSEARCA:DIA), S&P 500 (NYSEARCA:SPY), and Nasdaq Composite (QQQQ) from yesterday (see below).  Based on our blog update from last night we removed Apollo Group (NASDAQ:APOL) and NuVasive (NASDAQ:NUVA) at today's market open prices.  Apollo and NuVasive were up 5.8% (in 64 days) and 3.7% (49 days), respectively while they were included in our watch list.  December was a month stocks gained but the gains occurred on very low volatility. We feel an increase in volatility can be expected in the New Year short term which may not bode well for stock prices.  Overall, we have been saying we feel selling into strength is the best approach based on the current stock market direction.  If you have been following along with us then by now you should be mostly in cash waiting for lower prices to open new positions in stocks.  If you need to own stocks, please see our watch list.  Happy New Year!

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