Buyers Emerge In Final Hour As Dubai Woes Ease
The stock market ended higher on Monday as the dollar fell. Buyers emerged in the final hour after news spread that Dubai World Is in constructive talks with its lenders.
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Stocks Fall As Investors Digest A Slew Of Economic Data
Stocks closed lower as investors digested a slew of economic data. Volume, a critical component of institutional demand, was mixed compared to Monday’s levels; higher on the Nasdaq and lower on the NYSE. The higher volume on the Nasdaq marked a distribution day for that exchange but the lower volume on the NYSE helped those indexes avoided that fate. Decliners led advancers by over a 21-to-17 ratio on the NYSE and by over a 16-to-11 ratio on the Nasdaq exchange. There were 12 high-ranked companies from the CANSLIM.net Leaders List making a new 52-week high and appearing on the CANSLIM.net BreakOuts Page, higher from the 41 issues that appeared on the prior session. In terms of new leadership, it was encouraging to see new 52-week highs outnumber new 52-week lows on the NYSE and Nasdaq exchange.
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Sour Economic Data Hurts Stocks
This is Thursday November 19, 2009’s after market commentary. In-depth analysis on the market and leading stocks.
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Stocks Up; Dollar Up= Bulls Are Strong!
The bulls flexed their muscles today and sent the major averages higher even as the US dollar rallied! Volume, a critical component of institutional demand, was lower than Monday’s levels which indicated a lack of buying from the institutional crowd. However, the fact that the major averages were down for most of the session and closed near their intra day highs helps offset that concern.