Art Cashin, floor trader on the NYSE, was on CNBC this morning and gave several stock market related comments on what he is seeing.
Art Cashin Comments -3/13/09
Should we be worried because we've rallied so much?
We do have to have some concern, this is starting to look like a crowded trade - all of a sudden everyone is bullish on the stock market.
Also Volume is holding up only on short covering - you see heavy volume going into the bank sector but light volume everywhere else.
We closed at the top yesterday, closing at the top is usually followed by sideways action or down
I guess this rally needs to prove itself!
For all of Art's Comments, go here
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Showing posts with label low volume. Show all posts
Showing posts with label low volume. Show all posts
Friday, March 13, 2009
Monday, January 12, 2009
Stock Market Report 1/12/09, January 12, 2009
Why is the stock market going down today? The Dow Jones, Nasdaq, and S&P 500 are all very weak during the first half of trading today. Here are a few reasons why the major averages continue their downward slide.
- Earnings Season is Here - Alcoa AA, a key Dow Jones component, releases earnings tonight and Wall Street is sending shares of this company down almost 8% ahead of this report. This alone is adding pressure to the Dow Jones Average.
- Oil Prices Continue to Fall - After hitting $50 last week, Oil is back under $38 today and this is sending commodities stocks lower. Look at Potash ( POT ) for example, down 10.3% today on no news.
- Citigroup ( C ) Breaking Down - Citigroup continues to break down breaking the $6.51 low from late December. Support is at $5.94 from early December and if this level is take out, look out below. If Citigroup starts free falling like it did back in November, the market could get spooked once again. Keep an eye on Citi!
- Low Volume - There is just no volume in the market today, a few big sells can really hit the markets hard when you have a lack of volume and buyers.
- Dow Jones Testing 8500 - It was bound to happen sooner or later, the Dow Jones is back testing 8500, today and tomorrow could be big technical days.
For More Stock Market Updates, visit , http://daytradingstockblog.blogspot.com/ or Subscribe for FREE
- Earnings Season is Here - Alcoa AA, a key Dow Jones component, releases earnings tonight and Wall Street is sending shares of this company down almost 8% ahead of this report. This alone is adding pressure to the Dow Jones Average.
- Oil Prices Continue to Fall - After hitting $50 last week, Oil is back under $38 today and this is sending commodities stocks lower. Look at Potash ( POT ) for example, down 10.3% today on no news.
- Citigroup ( C ) Breaking Down - Citigroup continues to break down breaking the $6.51 low from late December. Support is at $5.94 from early December and if this level is take out, look out below. If Citigroup starts free falling like it did back in November, the market could get spooked once again. Keep an eye on Citi!
- Low Volume - There is just no volume in the market today, a few big sells can really hit the markets hard when you have a lack of volume and buyers.
- Dow Jones Testing 8500 - It was bound to happen sooner or later, the Dow Jones is back testing 8500, today and tomorrow could be big technical days.
For More Stock Market Updates, visit , http://daytradingstockblog.blogspot.com/ or Subscribe for FREE
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