The market shrugged off the news of the BP oil pipeline shut off news this morning with a small lost. The trading volume is slower than normal. Another historic side effect for the market is August. For the past 15 years, August has been plague month for the bulls. Traders are still waiting for the FED meeting tomorrow. No big positions will be placed until the outcome is announced as well as the meeting minutes to see further rate hike is necesary in the future.
High momentum stocks are usually perform badly in a downtrend market. (HANS) is the good case in point stock. It was one of the best performers last year as well as this year before today's crash. To much high expectation has been built onto the stock. If it ever disappointed, it will crash back to earth from the rocket ship.
Today's Stock Movers at 1:45 pm EST
Volume Momemtum Compared to normal days:
(Stock), (price), (+/-), (volume compared to normal)
Stocks Up:
(FILE) 35.18 +0.54 +613
(AES) 20.47 +2.22 +278
(NEU) 57.76 +4.69 +128
(ICLR) 66.92 +1.62 +98
(TNP) 48.72 +1.34 +89
Stocks Down:
(BPT) 78.77 -9.12 +3,158
(CONN) 22.96 -3.50 +911
(MCY) 50.07 -5.40 +777
(HANS) 32.58 -7.67 +527
(MYL) 20.33 -2.68 +448
Tags: stocks midday
No comments:
Post a Comment