Stock Market
All comments and Stock Market Analysis are made by Guy Brumley. Guy has been trading the Stock Market daily since 1992.
Trading, evaluating stock prices and predictions
Stock Market Commentary 12-04-2009
The DOW lost 86 points in the last hour of trading. It looks like someone knows Friday’s employment numbers.
Gold gave back, while the dollar gained. Volume was average. - Negative
One thought, Hedge funds are sitting on 30% gains for the year, and they have cashed in their chips until next year, thus the lower volume and the quieter market. - Maybe negative
Many of the market leaders are flat over the last thirty days. - Negative
We are at the 50% retracement on a weekly basis on many of the averages. – Caution
Decliners outpaced advancers 2 to 1. - Negative
The 25-year chart of the XAU shows gold hitting resistance at current levels. Although I think the move in gold has much higher to go, we could see a technical sell-off here.
It would be just enough to slow down the mania that is occurring in gold.
Many of the new high list stocks were higher in the morning, and sold off to lower levels in the afternoon. - Caution
Friday should be interesting.
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