This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Markets Ran Out of Gas: Dave's Daily

Stocks in this article: AAPL AMZN GOOG RIMM SPY VTI QQQQ

Dave's Daily

By Dave Fry, founder and publisher of ETF Digest and author of the best-selling book Create Your Own ETF Hedge Fund.

March 26, 2010

Photobucket

MARKETS RAN OUT OF GAS

I could make this pretty short but being skimpy isn't why they pay me the big bucks. Nevertheless, the image above basically sums up the last two days of trading don't you think? Maybe it's just profit-taking or the need for more fuel from earnings news starting again next week to give bulls what they need. Or, perhaps bad things can happen over the weekend, oh I don't know: how about a war on the Korean peninsula?  Was that ship sunk by the North or just having its own accident? The latest news is sketchy and any North Korea role is being played-down.

For those interested in leveraged ETFs we completed an interesting broadcast with Andy O'Rourke, Sr. VP Marketing for Direxion Funds.  You may view the video without registration or subscription at this link on our commentary page.   I believe it's informative.

News on Friday was mixed with GDP data revised lower and Consumer Sentiment about as expected. This didn't give bulls much to jump on except ongoing rallies in retail and financial sectors. The dollar fell with news of the 100 th different Greek bailout allowing commodities, like gold, to reverse course and move somewhat higher. Bonds were able to regain some lost ground after suffering mightily from previous poorly received auctions.

Volume was a little heavier than recent averages and from the 5 minute chart below you can clearly see a failed rally followed by distribution. Breadth was flat per WSJ below.

 

Continue to Major U.S. Markets

1 of 6

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,672.60 -141.38 -0.79%
S&P 500 2,051.82 -11.33 -0.55%
NASDAQ 4,757.8790 +7.4820 0.16%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs