Money Continues To Move Into The NASDAQ
If you read my blog yesterday you would be aware that I was seeing money move into the NASDAQ. Well we saw more of that again today. The above chart is similar to yesterday's chart in that the DOW took out yesterday's lows but the NASDAQ clearly wasn't anywhere near yesterday's lows. Buyers are buying tech folks.
One of my observations earlier this month was that the groups that have been lagging the market are all being bought up one at a time. Today the biggest laggard of them all lead the rally in the NASDAQ. The Semiconductors (SOX) had their best day in quite sometime. Semis such as ADI, NSM, LLTC and BRCM were some of the strong stocks today. This rally today in the semis didn't surprise me one bit and if you've been reading my observations these past few weeks, you shouldn't be surprised either.
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5 comments:
Kevin, you mentioned some of the stock in Semi index that went up today. What do you think of Intel and AMD.
I would leave both stocks alone.. INTC has no momentum and AMD is dropping like a rock...I think there is better stuff to buy.
Kevin, what do you think of CSCO?
Hi Elaine,
I really don't have a strong opinion about CSCO. It looks better than INTC and AMD but I don't see any reason to be trading that stock right now.
Thanks Kevin. I own some Jan 08 calls on CSCO. I guess I have plenty of time for them to appreciate. I am enjoying your blog. I think that I came across it from a posting in a yahoo stock message board, not to long ago.
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