The market reverse course on Monday afternoon. It was up in the morning at the open. The gain faded away after the former FED chairman Greenspend predicted US recession at the end of 2007. Will his prediction come true? That would be anyone's guess. I believe this can be true if the following can be happening in the coming months:
1. price of oil is continuing above $65 per barrel
2. War with IRAN
3. Major terrorist attack on the US turf
Otherwise, I would think the US economy is still growing at a slower pace. Even though the market is down, but the Nasdaq volume is lower than the typical days. NYSE on the other hand, it is on track to be higher than normal. The action is still on the Nasdaq tech market.
Today's Advancers:
(ITRI) - buying competitor
(IGLD) - good earning report
(OMRI) - up on no news, but earning is coming in early March
(TSL) - no news, continuation from last week's major advance
(ASTI) - same industry as (TSL), small stock play with no news
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