Friday, July 15, 2011

Not too Impressive

Not that impressive of action considering some of the earnings beats and M&A action happening out there today. We've broken slightly below the 20 and 50 day moving averages, and there have been a lot of late day sell the news reactions this week.

It remains strange how quickly the mood has been changing in this market - a month ago we were in panic mode... then it was followed by 2 weeks of unadulterated euphoria... then random choppy action dominated by the phrasing of a Bernank comment.

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