Stocks, Oil, Gold Fall For Second Day

DJIA - 443.48, -4.85% SP500 - 47.89, -5.03% NASDAQ Comp. - 72.94, -4.34% Russell 2000 - 18.80, -3.65% Exchange NYSE NASD Advancing 598 634 Declining 2,893 2,244 Oil $60.77 -$4.53 Gold $732.20 -$10.20 SOX 219.44 -16.81 VIX 63.68 +9.12 Strongest Sectors: XLP -1.07%...XLV -2.43%...XLI -4.69% Weakest Sectors: XLF -6.87%...XLE -6.02%...XLK -5.52% Sector Watch Up Trending: Sideways: Down Trending: XLP, XLF, XLY, XLV, XLI, XLE, XLU, XLB, XLK For the second day in a row all of our watchlist stocks were down. This is not negative since many of readers know how to trade the downside wheter shorting stocks, put options or advanced option strategies. All nine sectors moved lower with Financials, XLF, leading the way and Energy, XLE, was the second weakest sector. Oil and Gold and related stocks moved lower on Thursday. Index Commentary The DJIA closed below its 20 DMA and at the S1 level of the October 28 large white candle. The SPX closed below its 20 DMA and at the S1 level of the October 28 large white candle. The Nasdaq closed below its 20 DMA falling for the second straight day. The RUT formed closed below its 20 DMA…may be in process of forming a head and shoulders bottom. Thursday’s Action Moving Up: None in our watchlist Moving Down: MA, FSLR, BIDU, POT, GS, CNX, X, PCLN, ANR, BTU, MOS, FWLT, CLF, V, AMZN, BUCY, CF, DECK, DRYS, SOHU, AEM, ESRX, NDAQ, AGU, MON, NUE, SCHN, INFY, LDK, FMCN, COH, NIHD, KMT, MER, SINA, MS, MEE, GDX, IPI, GRMN, ZION, KBE, HANS Intermediate Term Market Trend: Down Short Term Market Trend: Down