The market is trading lower in the afternoon but off the worst level of the day after the Labor Department reported that the Producer Price Index, a measure of inflation at the wholesale level, jumped 2 percent in November. It is the biggest jump in over 30 years. The fear is definitely there. Also adding to investor fear, the stock market in Thailand dropped almost 50% Tuesday after the Thai government on Monday announced controls on foreign investment.
The good news is that the volume is not accelerating to the downside. The pace of trading is slower than normal. That means the sell off is an orderly fashion. Furthermore, we came back from the low of the day. I would not sell any position unless the position is broken to the downside with massive volume. Sit tight and see.
Today's Stock Movers at 2:30 pm EST
Volume Momentum Compared to normal days:
(Stock), (price), (+/-), (volume compared to normal)
Stocks Up:
(GMKT 22.52 +2.04 +1,254
(TNT) 43.00 +0.89 +1,227
(LINE) 33.55 +1.37 +374
(NHY) 30.54 +0.99 +278
(NCTY) 29.37 +2.13 +208
Stocks Down:
(PSSI) 19.12 -1.54 +971
(IAI) 53.86 -0.51 +462
(TUES) 16.27 -1.58 +382
(BRLI) 23.52 -1.08 +361
(AZN 53.52 -2.06 +346
Tags: stocks midday
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