Seeking Alpha

btdstocksblog's  Instablog

btdstocksblog
Send Message
Provides daily commentary and analysis on the direction of the stock market each trading day.
My company:
DailyStockMarketForecast.com
My blog:
DailyStockMarketForecast.com
  • BTDStocks.com Friday, March 18, 2011 End-of-Day Update  0 comments
    Mar 18, 2011 10:52 PM | about stocks: DIA, SPY, QQQ, SH, PSQ, RWM, UUP, EUO, AAPL, AGO, FDO, NUAN, CSCO

    Early 1% plus gains in the market for the major indexes were erased as the market gave back some and mostly closed at the bottom part of the day's trading range. Investor participation was tough to judge as today was an options expiration session. Breadth came in at good levels. Keeping with the trend we are raising the support/resistance levels on the DJIA and S&P 500 (see below). We are keeping the support/resistance levels on the Nasdaq Composite the same (see below). Overall, based on the stock market direction now seems to be a good time to nibble slowly into new stock positions. If you need to own stocks, please see our watch list below. In our watch list today we added additional positions in the PowerShares Double US Dollar Index Bullish Fund (symbol: UUP), the ProShares UltraShort Euro (symbol: EUO), and Nuance Communications (symbol: NUAN) at today's market closing prices. Also, Cisco Systems (symbol: CSCO) a stock currently on our watch list declared a dividend for the first time in its history. The rhetoric on the street seems to be CSCO is dead money from a stock perspective. CSCO is clearly a stock out of favor right now which may present a nice buying opportunity for patient investors.
    No positions in securities mentioned.

Back To btdstocksblog'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
Posts by Themes
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.