Friday, February 18, 2005

Market Commentary for Saturday, February 19, 2005

After the sharp decline on Thursday, people are simply waiting for a solid indication that the Nasdaq sell-off has subsided. And since it was both a Friday and ahead of a three-day weekend, people were not anxious to stick their necks out. The very modest 2.72-point Nasdaq decline on Friday was essentially noise. The good news was that there was no continuation of the sell-off.

There was a lot of chatter about the "surge" in the Producer Price Index (PPI), but sensible people know that there is a lot of volatility and that a jump in tobacco prices is not cause for alarm.

People were still recovering from the Greenspan double-header on Wednesday and Thursday.

Nasdaq trading volume was light (1.61 billion shares), and breadth was moderately negative, with 1.27 losers for each gainer. This was another "treading water" session.

Click here for the full market commentary.

0 Comments:

Post a Comment

Subscribe to Post Comments [Atom]

<< Home