Stock Market Recap, June 26th 2008
Let’s see… what happened today… well the Dow broke below January lows shedding nearly 360 points, Research in Motion (RIMM) missed earnings guidance and tanked 13%, GM shares plunged to a 53 year low, and Oil closed at a record high $139.64.
The highlight of my day? Over at Yahoo Finance the 2nd featured article currently is, “Fragile economy improves but not out of woods yet.” Apparently the piece didn’t have enough optimism to stir a rally today, too bad really…
So let’s cut the crap and get to some charts. Starting with the major indices today’s fortunes are well portrayed.
Luckily for me I was knocked into 100% cash yesterday before all the chaos ensued today. Now if I could just keep my finger off the trigger and stay there… See you tomorrow.
Yo B,
You should bought QID–I dunno why you get in that steel STLD stock for!!! I notice you lost on that trade. Better luck next time!!!
LOL.
STLD was a tough one to swallow. Even with the tough market the stock was making new highs on demanding volume, just didn’t have the momentum to outrun the market. Bad beat!
i just noticed something after trading and looking at charts for the dow.
Around December on DIJA….we had chart wise….a lower double top, we went down signficantly.
Then both times on the DJ chart, we went down 3 times after the double top.
Am I seeing things?
Will history repeat itself? I wonder….