{+++}Hey guys, it doesn’t look like I missed much today as we chopped and had a bearish consolidation day.
Net on the day the Dow was down 16.71 to 8322.30, the S&P 500 up 2.40 to 895.08, and the Nasdaq 100 down 2.15 to 1424.46. The Philadelphia Semiconductor Index (SOXX) fell 94 cents at 253.66.
Advance-declines were negative by about 155 issues on New York and by about a 3 to 2 negative ratio on Nasdaq. Up/down volume was 7 to 5 positive on New York on total volume of 1.2 billion. Nasdaq traded 2.1 billion with nearly equal up & down volume.
No picks tonight, still long GLD and waiting on JLL and IYR from the short side. The charts below are simply observations on what is happening to natural gas stocks. In my opinion the real easy money has been made on the short side and I will looking for a tradeable bounce, but it’s still too early to place money on the line, it’s not a group I’m passionate about either way anyway, but I will keep an eye on it.
