Daily market commentary for Wednesday, Dec 27, 2006

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Written By: Teresa Appleton Stock Forum ID: Teresa Tuesday started the day off strong and continued with a close on the highs. Volume was very light and it will continue to stay light until after New Years. Despite the absence of earnings and economic data today we still were able to find pockets of movement. […]

OIH Trades Under $140 and Tests 50 MA

The oil services tracking fund (OIH) has had a rough tough the last few weeks, and today has trailed under $140 support and is right on its 50 Day Moving Average. If the 50 MA can't hold this fund afloat, then trailing into the mid $130s is highly plausible. I would advise staying away from […]

IAAC Continues To Tumble

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Shares of International Assets Holding Corp (IAAC) have struggled again today, and currently are trading near intra-day lows of $27. The stock is down nearly 8.5% today on volume of almost 700,000, and as seen by the chart below has had a rough last two weeks. But, with bigtime selloffs comes solid money making opportunities, […]

XOM 75 Support

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As seen in the chart, a fall under $75 support would raise a bear flag for Exxon Mobil (XOM). A fall below and the stock will most likely stumble towards $74 and the 50 Day Moving Average. Today XOM is up though, trading just under 1% higher thus far at just about $76. Volume is […]

NYX Down Another 4%

Take a look at this chart of NYSE Group (NYX) to understand what we were looking at last week. The stock falling back under $100 signaled the end of its move above, and today NYX is down under $93 a share on volume of just over 1.5 million shares. Low on the day is $92.51.