Tuesday, May 13, 2008
Markets Pause While Some Stocks Continue to Move
After a strong support bounce on Monday major indices are pausing on Tuesday morning. The DJIA is down -0.49%, the S&P -0.13%, the Nasdaq Composite -0.14% and the Russell 2000 is up +0.03%.
Many individual stocks are continuing to move up: FSLR, FWLT, CNX, SCHN, AAPL, DRYS, MEE, DECK, BIDU, X, JASO, IBM and V.
Stocks moving lower Tuesday morning include: POT, MTL, MON, MOS, RIMM, GS, LEH, CF, CELG, MA, MS and SOHU.
Tuesday's price action appears to be typical price fluctuation and represents no change in our trend readings.
Dave's Insight: Follow your rules when trading. Buy when you are supposed to buy and sell when you are supposed to sell.
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