holy cow! looks like we're not too far from testing the '09 crisis lows now ge is the 13th worst performing stock since the crisis lows
that's pretty amazing considering it was already the longest daily losing streak in about 35 years. now i'm curious to see when crude did an 11 day losing skid.
US crude falls for an 11th straight day, posting its longest losing streak on record https://www.cnbc.com/2018/11/12/oil-markets-saudi-arabia-and-opec-in-focus.html The 11th down day is now official
As horrible as the stock has been, it is still a $79 billion market cap. That impresses me with how big it must have been before.
The Dow has already retaken its 200 ma. And Transports look like they are using a spring at the bottom (just got done watching this There's no reason for transports to weaken with strong consumers, and FedEx is talking about raising prices). It is the Nasdaq that has been lagging lately, but it can still turn it around and retake its 200 ma too. Cybersecurity stocks may be the new leaders.
curious to hear what @Frankenstein is thinking here too ... are we going down to test last months lows? or dare i say the feb. low? oh and speaking of...i was meaning to bring this up earlier, but would be cool to get some votes on this thread here - https://www.stockaholics.net/threads/s-p-poll-aths-or-2-550-first-vote.7412/
What Election Rally? It’s days like this where the major US equity exchanges should take a page out of the fixed income market playbook and just stay closed on bank holidays. It’s bad enough that stock traders all have to work while their fixed income counterparts enjoy the three-day weekend, but to come into the office for this? Thanks a lot! Looking at the chart of the S&P 500 following today’s decline, it is now back below its downward sloping 200-DMA and has erased more than all of its post-election rally from last Wednesday. Big rallies followed by even bigger more drawn out declines is not something you would normally associate with bull market behavior. While the moves of the market over the last couple of days are not particularly encouraging, it is interesting to see that of the S&P 500’s 60+ industries, just as many are hitting 52-week highs today as are hitting 52-week lows. On the upside, Food & Staples Retail and Power & Renewable Electricity both hit 52-week highs earlier today. Food & Staples Retail is made up of names like Walmart (WMT), Costco (COST), and CVS, while some of the larger components in the latter group include NRG and AES. While Food & Staples Retail is a relatively large group accounting for about 2% of the S&P 500, Power & Renewable Energy is puny. On the downside, the two groups hitting 52-week lows today are Energy Equipment & Services, which is made up of names like Schlumberger (SLB), Baker Hughes (BHGE), and Halliburton (HAL), and Industrial Conglomerates. When you think of Industrial Conglomerates, General Electric (GE) is usually the first name that comes to mind, but given its declines over the last two years, it is now actually a smaller percentage of the index than 3M and Honeywell (HON).
Good Tuesday morning to all. Here is the pre-market thread for those of you wanting to get a quick read before today's open- <-- click there to read! Good trading to all on this Tuesday.
