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Market recap: The Dow recovered from a 150-point drop to squeeze out a fifth straight weekly...

Market recap: The Dow recovered from a 150-point drop to squeeze out a fifth straight weekly gain, but investors generally held their fire in light trading ahead of a busy economic calendar next week. Most of the action was in the tech sector, where Amazon staged a notable about-face to end 2.8% higher but Expedia sank 27%. Treasurys inched higher but fell for the week; WTI crude settled at a two-week low.
Comments (5)
  • Wow. Amazing how "investors" all just decided to start buying around 11 AM this morning, and kept up steady buying until the close, putting all three major indexes just into the green, so that the headlines could say "Fifth straight weekly gain"! Really, just amazing.
    26 Jul 2013, 05:28 PM Reply Like
  • When the Markets are dominated by high frequency robotic traders on a relatively low volume day, the Markets are easily manipulated -- bots trading back and forth with each other, leap frogging each other at a tightly controlled and calculated pace. Bring up any 5-10 minute chart for the Dow or S&P today and look at that straight 45 degree line up from 11AM to the close. It's a real shame for individual investors and takes all the ebb and flow of natural supply and demand.

     

    You don't have to wonder why the younger generation is staying away from equities -- they watched their parents anguish in 2001 and 2008 and remain smartly in cash.
    26 Jul 2013, 07:35 PM Reply Like
  • Of course, here come all the HFT/Fed-bought-stocks conspiracy theories.
    27 Jul 2013, 01:23 AM Reply Like
  • HFT is no conspiracy my friend, it is reality. Ignore it or leverage it, but don't be naive.
    27 Jul 2013, 02:58 AM Reply Like
  • No, you're right.

     

    What happened on Friday was that at 11 AM thousands and thousands of individual investors logged into their trading accounts, or called their financial advisor and independently decided to buy stock. Miraculously, this "mom and pop" buying was extremely consistent until the close, with a steady pace of about 3.5 S&P points per hour.

     

    HFT machines had nothing to do with it - in fact someone tripped over the cord and unplugged them all at exactly 11AM too.

     

    By golly - this is just a straight-up honest "people" market - and we should all trust that when a 150 point Dow drop is erased in a five hour grinding climb it must mean the economy is getting better! (At 10:30 AM nobody thought that it was).
    28 Jul 2013, 12:29 PM Reply Like
DJIA (DIA) S&P 500 (SPY)