STTG Market Recap Nov 27, 2012

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Stocks rotated from positive to negative most of the day but took a turn for the worse Tuesday after comments from Senator Reid regarding the fiscal cliff (“little progress”) hit the wires.  The S&P 500 fell from 1407 to 1400 within minutes, and never recovered.  The S&P 500 finished down 0.5% and the NASDAQ 0.3%.   Decent news on home prices, consumer confidence, and durable goods were absorbed but overwhelmed by the action in D.C.  At this point the situation is very similar to last year’s debt ceiling debates, and in fact any major negotiation in Europe where comments from political leaders push stocks one way or the other.

Two stocks acting very well in this rebound and indeed much of 2012 are in the fascinating 3D printing area – Stratasys (SSYS) and Three D Systems (DDD).  Here are the charts via MarketSmith which showcase both recently popping out of a “cup and handle” formation.

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Comments

  1. Manuel Tayao says

    Thanks for catching up with the market and not leaving us behind. Read all your comments and helped by this a lot. My best to you – Manny.