Things sure turned south quickly after the Fed announcement today. I don’t want to say it’s “game over” for the market, especially the Nasdaq, just yet because the market often takes a day or so to fully digest what the Fed says. But it’s not looking good at the moment. The Nasdaq closed below its [...]
Posted by 21 March 2005
Still No Lift
The Nasdaq outperformed the broader market for a change, yet it still closed down for the day. I think that you could see the tracks of technically based traders once again as the Nasdaq tagged its 200-day moving average and turned on a dime. The buyers have done a good job of defending the Nasdaq’s [...]
Posted by 21 March 2005
Chart Request: Motorola (MOT)
Posted by 21 March 2005
2,000 Holds
Buyers may have finally found a level they like as the Nasdaq bounced off of the 2,000 level on Friday. It’s amazing how these round numbers work sometimes — the low on Friday was 1,999.98. I can just picture all the ‘buy buttons’ that were hit once 2,000 was touched. Anyway, the buying wasn’t spectacular [...]
Posted by 21 March 2005
Big Bank Take Little Bank
We’ve got more M&A activity in the internet sector today. Yahoo is snapping up (the private) Flickr while Interactive Corp. (IACI) is buying Ask Jeeves (ASKJ). (I’m glad I covered that short!) I’ll be on the lookout for some of the smaller net plays (like GRU, CNET, LOOK, FWHT, MAMA…) to be bid up today [...]
