Jerry Samet
07-25-2012, 07:16 PM
The market had a sloppy day today as the major averages(other than the Dow) bounced around the unchanged line all day. They closed mostly slightly lower and in the lower half of the trading ranges(COMPQ and SPY). The Nasd high was contained by the 50dma. Volume was mixed, higher on the Nasd and lower on the NYSE. This produced a distribution day on the Nasd. Leading stocks generally performed a bit better than the overall market as the leaders index was up .24% on higher volume. The market held up pretty well after the AAPL miss, but we are caught in a whip saw market and the side lines are probably the safest place to be. Jerry