Wed 26 Jul 2006
I’m a little concerned about all the gap-down moves that I’m seeing in the last few days…
- YHOO - down 18% on 7/18
- AMZN - down 21% on 7/26
- GWW - down 12% on 7/17
- NSC - down 9% on 7/26
- GLW - down 14% on 7/26
- ROK - down 10% on 7/26
- NFLX - down 20% on 7/25
These are not small companies either… all of them withe the exception of NFLX belongs to the NDX, SPX, and/or DJIA and has a market cap over $5 billion.
July 29th, 2006 at 12:03 am
Earning season is upon us and it’s clear that the market is VERY skittish and looking for bad news. What’s freaking me out is individual stocks are getting hammered by bad news, but the market as a whole gets bouyed on bad news because “it will encourage the Fed to stop raising rates” or something similar to that. Canaries in the coal mine…