Thursday, May 24, 2007


A slight rally in the last thirty minutes saved what could have been a disasterous day for the bulls. All in all the major indices ended down. The Dow only lost 0.62% while the Nasdaq down 1.52% and S&P down 0.97% fared worse. Gold, Silver , Oil and Utilities were massacred all down over 2.5%. Retailers and Home Improvement along with Aerospace led the way.

GLRE BWS HRT SHRP GYMB were some of the notable winners. NFLD NTMD NTAP KOMG were some of the notable losers.

I happen to thing that this selling was due to the long weekend ahead. I see a rally in the week ahead though I could be wrong. Either way lets see how the overseas markets react. The S&P 500 sure has had a tough time breaking and actually staying at all time highs. Maybe a double top is at hand.

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