Dip-Buyers Dip In
by Rev Shark
It is very fitting that the dip-buyers made an appearance on the final day of the year. That group has been very tenacious for the most of 2010, and they have consistently thwarted the poor bears just about every time they thought they may finally catch a break. The dip-buyers put the indices back to about even and breadth is now positive with about 2,850 gainers to 2,400 decliners. Weak-dollar gold plays, oil and energy are leading while technology and retail are lagging. Once again, the big-cap leadership names are lagging. Amazon, Apple, Google, F5 Networks, Baidu, Priceline.com and Chipotle Mexican Grill are all in the red. If you are playing today, you have to stick to the "junk" names once again. That's what I'm doing. Stops are tight and I'm quick to take profits, but there are some nice trades out there for the opportunists....
by Rev Shark
It is very fitting that the dip-buyers made an appearance on the final day of the year. That group has been very tenacious for the most of 2010, and they have consistently thwarted the poor bears just about every time they thought they may finally catch a break. The dip-buyers put the indices back to about even and breadth is now positive with about 2,850 gainers to 2,400 decliners. Weak-dollar gold plays, oil and energy are leading while technology and retail are lagging. Once again, the big-cap leadership names are lagging. Amazon, Apple, Google, F5 Networks, Baidu, Priceline.com and Chipotle Mexican Grill are all in the red. If you are playing today, you have to stick to the "junk" names once again. That's what I'm doing. Stops are tight and I'm quick to take profits, but there are some nice trades out there for the opportunists....
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