Thursday, August 12, 2010

Disk Drive Index - New Lows For The Year


One group of stocks that have been really struggling over the past 2 months are the disk drivers. In the lower panel is the Disk Driver Index (DDX) and as you can see this index made new lows for the year today. 

NTAP has been one of the stonger stocks in this index but is now beginning to fall apart. This stock gapped sharply lower today and continued to sell off into the afternoon closing down nearly 9% for the day.

4 comments:

Anonymous said...

Kevin,
This is off topic but did you go back to trading UNG? I like the bottoming action and got some in money calls again. The options have no premium and have little spread. Easiest to trade from all options I traded so far.
BTW, when would be a good entry point to reenter shorts on SPY? Are you looking for a rebound?
Jack

Anonymous said...

The reason I asked you that question about a rebound is that the $TNX seems to be bottoming now as per its RSI. I'm talking short term of course and considering shorting TLT today.

Kevin said...

Hi Jack,

I'm not trading UNG, I just don't see any good setups in that market at the moment.

I have on a few shorts in the S&P but nothing big due to the fact that I chased the market down. I'd like to see a bounce so that I can get a little bit bigger but I don't think we are goind to get that.

Kevin said...

I actually think TLT will move higher especially if the stock market continues to move lower which I feel it will.

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