Nastiness under the surface
Nearly all the stocks on my watchlist were down 3% or more today despite the overall market's modest decline. I don't know if that is a bad sign or a good one (do I ever?). My portfolio lost almost 1 percent today. I'm not digging this.
The Zweig RS 5 portfolio was down another 1.71% today.
We'll see if tomorrow brings some of the end-of-the-quarter window dressing that everyone's talking about.
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1 comment:
sc,
My list also went down by more than 3% on average too (our lists are similar, I'm guessing). I think it was due to profit taking in stocks that have been showing leadership.
My guess it that (unless the market is going to tank) these leaders are going through a pullback and will bounce of the 20-day or so EMA (except maybe the oil stocks since everyone is saying oil prices will collapse).
Andy
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