Mike
05-11-2012, 10:07 AM
Today is day 4 possible rally count off of the lows of 5/8/12. That day was a down day but finished high in the range so constitutes a "pink" rally day. As long as the intraday lows of 5/8 are not broken the rally count continues. A follow-through day that would change the market from market in correction to confirmed rally needs to occur on day-4 or later. A move up of 1.25% or more on volume greater than the day before would signify a follow-through day.
SXCI is showing heavy volume trading today probably caused by a new primary offering. Some stocks holding up:
FIRE, SWI, ISRG, TNGO, LNKD, SXCI, TSCO, LULU, TDG, GNC, Z, DG, DNKN, TDC.
Facebook will IPO in a week. Its earnings have been decelerating for five quarters. The last reported quarter (March) shows negative growth. Sales have also been decelerating for five quarters. There is a lot of hype but the earnings situation suggest caution.
SXCI is showing heavy volume trading today probably caused by a new primary offering. Some stocks holding up:
FIRE, SWI, ISRG, TNGO, LNKD, SXCI, TSCO, LULU, TDG, GNC, Z, DG, DNKN, TDC.
Facebook will IPO in a week. Its earnings have been decelerating for five quarters. The last reported quarter (March) shows negative growth. Sales have also been decelerating for five quarters. There is a lot of hype but the earnings situation suggest caution.