Unlike yesterday's action, the market reversed course from high opening to trading lower in the afternoon. The reversal is not what bulls wanted to see. The Nasdaq 2100 is proven to be hard to be cracked and stayed above 2100.
I believe the market is going lower and test Nasdaq 2000 in the very near future. Why? Many momentum stocks such as (GRMN) opened much higher (+10) at the open a few days ago, its stock was down (-1) at the close. The trend was continuing its descend down trend today as well. Another example is today's big volume mover, (CROX). It moved up $4 after close yesterday and opened higher this morning, but by the afternoon it is trading lower.
I still believe Cash is the king right now. Therefore I saw all my positions in (SXCI) today as well as a defensive play.
Today's Stock Movers at 1:30 pm EST
Volume Momemtum Compared to normal days:
(Stock), (price), (+/-), (volume compared to normal)
Stocks Up:
(TRLG) 19.19 +1.68 +493
(LEAP) 44.54 +3.67 +345
(GIL) 47.83 +0.51 +218
(CME) 480.78 +22.71 +169
(MICC) 36.08 +0.50 +143
Stocks Down:
(KCI) 24.45 -18.13 +1,682
(CROX) 28.28 -0.72 +1,656
(CECO) 20.37 -7.21 +1,505
(IVGN) 56.88 -5.45 +1,147
(JH) 35.04 -4.46 +1,134
Tags: stocks midday
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