We have been having an issue with tech stocks lately. We got hit in Dell when they reported earnings. Then we got hit in Apple (although Apple recovered yesterday). Palm and WFR have proven to be bad purchases, Sandisk (SNDK) has not worked as well as we would have liked and Cienna took it on the chin yesterday.
The only bright spot was a day trade we did yesterday in, of all things, Dell, where we were able to capture enough pocket money for a few weeks of putting gas in the car, buying groceries, etc.
Volatility continues to fall, which is a good sign. Volume is also falling and that is not such a good sign. We had a big up day yesterday on light volume. Gold stocks gapped up in the morning and then came back a little, on light volume. Investors Daily's accumulation / distribution ratios are negative on the major indexes right now. We are cautiously optimistic right now, but we are being very careful.
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