Daily Investment Interpretations

June 24, 2010

2010-6-24:  My investment service issued a "sell" signal this afternoon and I sold. It's borderline. Sentiment is unabashedly crestfallen. A technical bounce would be normal in here, but it seems to me that a crash is also a possibility.
    The markets tanked again today: Growth worries weigh on U.S. stock futures. The NASDAQ Composite lost
36.81 points (-1.63%) to close at 2,217.42, the Dow plunged  145.64 points -1.41%) to close at 10,152.80, and the S&P 500 subtracted 18.35 points (-1.68%) to end at 1,073.69, Stocks can't find foothold. Oil ended up to $76.31 a barrel, while Gold ended the day at $1,242. The VIX rose 2.83 to 29.74. 
 
    The herd is nervous tonight. Is a stampede coming tomorrow? (Note that it's a bit too early to short the markets.) There isn't much news available.
    Market futures are mixed tonight, but basically flat.