Wednesday, June 2, 2010
Quiet Trade
I don't expect anything dramatic today, we should stay close to the flat line. The move in energy stocks will be digested along with the general weakness in Europe. This market should test the 1060s today but I don't think we'll be going down dramatically. Traders will start lining up for the nonfarm payrolls on Friday which will limit the downside.
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1 comment:
These late day sell-offs were common last year when we went lower. The public wants out of their mutual funds.
The mutual fund manager has to sell the stock regardless of price. This is what they have been doing near the market close.
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