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 Thursday, March 31, 2011 End-of-Day Update  0 comments
    Mar 31, 2011 7:19 PM | about stocks: DIA, SPY, SH, PSQ, RWM, UUP, EUO, AAPL, AGO, FDO, NUAN, CSCO, CCJ

    The market finished with mild gains and losses on the major indexes.  The DJIA (NYSEARCA:DIA) and S&P 500 (NYSEARCA:SPY) closed near their session lows while the Nasdaq Composite (QQQQ) closed near its session highs. Investor participation was mild in the session before the March jobs report.  Market breadth was ok.  Keeping with the trend we are lowering the support/resistance levels on the S&P 500 (see below).  For the Nasdaq Composite we are keeping the support/resistance levels the same (see below).  We are keeping the support level for the DJIA the same but lowering its resistance level (see below).  This was the typical type of trading you see the day before a key economic report is released.  Complacency is pretty high in this market.  Based on the current stock market direction moving into stock positions slowly remains the prudent approach. This way your portfolio can dodge a major bullet if stocks decide to reverse course.  If you need to own stocks, please see our watch list below. In our watch list today we removed the position in Nuance Communications (symbol: NUAN) added on March 18, 2011 at $19.59.  NUAN gained 12.6% in 13 days while on our watch list.  We added NUAN at $17.40.
    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.