Friday, June 03, 2011

Stocks Moving Lower in Last Hour

imageYes, it was only Tuesday that there was renewed optimism in the stock market as the averages soared and closed percentage points from their recent highs.

But that was Tuesday.

Since then, a slew of underwhelming economic data has come out.  The stock market is now headed to its fifth consecutive week of declines.

As you know, I raised cash on Tuesday.  I’m thinking a bounce is likely, maybe back to the 50dma.  But we are mired in a 15 week trading range, and I’d even say that March low looks like an interesting benchmark, eh?


It’s Friday.  I’ll audioboo/podcast later.  Sitting in cash, some low beta stuff, and watching my oil stocks lose their gains.  LOL.  OIL!!!

Time to lift weights.  Slowing down this past week or so.  I modified my routine a bit, so hopefully that will get me back into a rhythm.

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