The market is trading lower in the afternoon again reversed course from this morning's up day. The pattern is similar to yesterday's, economy is the blame for the down day. It is very hard to please with Wall Street. The market wanted to have the economy to slow to avoid more rate hikes from the FED. Yet there are signs of slowing, but the market thinks that it will could problem to the stocks because if economu slows, profits will be less for the companies.
According to the preaching of Mr. William O'Neil, the CANSLIM method does not have the "E" in the word, CANSLIM. So economy is a secondary indicator, not primary. The market is the best indication, not the economy. Stocks are usually ahead of the economy months away. So look for market action instead of the "Economy".
Today's Stock Movers at 2:00 pm EST
Volume Momemtum Compared to normal days:
(Stock), (price), (+/-), (volume compared to normal)
Stocks Up:
(CWTR) 26.85 +1.72 +710
(GDP) 32.39 +1.56 +29
(NTY) 29.76 +0.64 +23
(LDSH) 33.82 +0.55 +17
Stocks Down:
(PDCO) 30.32 -2.56 +829
(WSM) 29.88 -2.72 +618
(NDSN) 42.22 -1.13 +588
(GES) 44.81 -4.29 +463
(TTC) 38.48 -2.42 +431
Tags: stocks midday
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