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Thursday, June 16, 2011

The Hot Stock Picks for Today

Hello my traders, investors and readers friends. Yesterday, the market lost the good mood Yesterday the market lost a goodmood seen the previus day, but maintained its character. The DJ-30 closed at 11897 points (-1.48%), the S&P-500 in 1265 point (-1.74%) and the Nasdaq Comp. closed at 2631 points (-1.76%). Unlike Tuesday, the volume of shares traded increased. This strengthened the Bear character in the market. The 30 components of the DJ Industrial had a negative result. In the case of the S&P-500, only 13 stocks had positive returns. In my particular list, only 30 stocks out a total of 316, register a positive result. In conclusion, the market continues to show down signs.
The moment of Truth. Some of the major indexes closed Wednesday al levels "very close " to their resistance. Now, see if the market can turn around and restart a way up... or it will continue its way down. The S&P-500 fell to just 15 points minimum in Marc. What is the chance of breaking this level?... unfortunately is high. The market behavior and the main technical indicators do not show a behavior that traditionally when the market hits the floor.

We have not yet seen a capitulation. To do this, there should be panic in the market and one or more days of fall with high volumes of shares traded.
The following chart I am trying to illustrate this situation from the S&P-500 as a good indicator of what happens in the market. Please click on the chart to enlarge.




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