A weak open turned into an optimistic close as bargain hunters put semiconductors in the early lead and NASDAQ 2100 held as support once again. From the chart we can see that the NASDAQ finished strong and volume ticked up above the last several sessions. From the midday lows to the close, the NAZ put together a 30 point move. Seven of the NDX 100 top 10, were semiconductors with KLAC (up 8.2%) pacing the way. Now, can we follow through tomorrow? In my humble opinion, now that the semis are showing some signs of leadership, we have better odds ;)
2 comments:
Do you find yourself addicted to the market? I've tried giving it up before but always get sucked back in. It's that lure of quick and easy money that keeps dragging me back. I'm thinking about moving my money into a high interest savings account but then I think "Gee, I can make the same amount in the market in a minute or two that I could make in a month on interest in a savings account." Kind of hard to get out when I think about it like that. But, its near impossible to work a day job and watch the market closely enough to effectively trade (and I can't help but micromanage my account if I own any stocks). It seems you have been doing more trading lately than you had planned too.
Yeah, its hard to stay away from it. Right now I'm trying to plan my trades the night before and execute based on support strength or weakness. If my picks breach support or gap too high/low, I just don't bother with them. If all my picks are NG, then I fall back on my old favorites (AAPL, BRCM, TZOO ...) and look for a possible entry.
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