The market is trading badly to the downside in the afternoon. It started flat, but it was trading down all day without any good bounce. The weakness came from the report showing a slowdown in manufacturing activity announced this morning. The closely followed ISM manufacturing index fell to 49.5 in November from 51.2 in October, the lowest since April of 2003. Economists expected 52. Readings below 50 signify contraction.
Volume is trading higher than yesterday's volume. A bad sign for the bulls. Play defensive now.
Today's Stock Movers at 2:30 pm EST
Volume Momentum Compared to normal days:
(Stock), (price), (+/-), (volume compared to normal)
Stocks Up:
(WBD) 48.70 +1.15 +296
(GIFI 39.11 +1.48 +173
(NVLS) 32.67 +1.45 +150
(ALB) 70.99 +1.25 +96
(VIP) 77.15 +1.06 +72
Stocks Down:
(TI) 29.95 -0.65 +1,662
(CNS) 36.50 -1.45 +1,125
(EWP) 52.36 -0.74 +728
(IYW) 54.37 -0.85 +592
(GDP) 41.65 -2.31 +523
Tags: stocks midday
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