The market is trading down all day long since the opening bell on Friday. Around 1:030 pm EST, Nasdaq is down about 13 points, S&P 500 is down about 7 points. The advancers to decliners ratio on NYSE and Nasdaq are about 1 to 2. The up to down volumes are about the same on both exchanges, it is 1-to-4 on NYSE and Nasdaq. Declining issues clearly had an upper hand today. There is clearly no up momentum in the recent trading days. Looks like the Nasdaq market is up about 2% for year. Again I would not buy anything until trend has changed to the upside. In the mean time, just keep your own watch list as you potential shopping list when the bull is back.
Stocks worth mentioning are:
(NTRI), this top gainer for the Nasdaq market is up another $1.5 to $35 around 1:00pm EST. For the year, it has posted a gain of about 1200% from the beginning of the year. A very astonishing gain for any stock. Considered at the peak of its high few weeks ago, at $44. It maybe 1500%. It is breath taking gain. This is the kind of the stock is unknown to us in the beginning of the year. Hopefully, we can find the next (NTRI) in the coming year.
(SMTS), the mdical device maker is up about $1 today after a few days of sharp down days. This could be the dead-cat bounce move of the stock. If I still have it. I would use this opportunity to sell into the strength today.
(ELOS), this aesthetic medical products company is down about $4 at mid-day. It has broken many support level now. It is in a very bearish mode. The reason for the down movement is because of the downgrade from an analyst. This stock is used to be Booyah man's favorite pick when it was in the low $40's. The whole industry is in the downtrend ever since (CUTR) felt hard after it lost the patent case. The number of leaders are fading away in the most recent trading days. Buying constraint should be exercised right now.
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