Wednesday, September 28, 2011

Big Reversal, $AMZN Kindle Fire

imageToday was a very negative day.  While it is natural for the market to pause after a few up days, and when it is at or near moving averages or resistance, to have a big reversal after a move up is a bit of a downer.

The market was up early. The $QQQ was up over the 200dma nicely, but then WHOOSH.

Oh, because of Europe.  But we already knew that — no matter what happened! 

The end of quarter play often ends just a bit ahead of the end of the quarter, just to hit those who jumped into the pool at the end.  Hopefully, since the whoosh down came a bit early, there may be some room to move up. We’ll see.  Depends on Europe, I guess!

The big news today?  The Amazon Kindle Fire!  Looks like a great product at a great price point.  It will do what most folks want it to do, at a much lower price.


Picture is a Woman of Bloomberg TV, Betty Liu.

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