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SPDR S&P 500 ETF Trust Message Board

  • steven.hutchinson Apr 5, 2014 2:36 PM Flag

    btw, the key about friday's sell down

    was how betas and financials began to roll over as the week progressed,

    during a new qtr no less.

    and how markets internals were crumbling and by thursday, big warnings lights were going off.

    but re: friday,

    the betas instantly sold down hard out of the gate, they literally crashed.

    and the financials were right behind them.

    and yet, the indices were holding for first hour,

    they gapped up, closed the gap and bounced back up twice to set a double top at 189.5

    and yet, all around you betas and financials were on full sell mode and internals were dreck.

    so anyone had a full hour to get puts at a kill zone res, that also set a hard double top.

    it wasn't like this came out of the blue, and everyone had a full hour to get positioned before the indices gave in to what the leading sectors were already busily doing, cratering lower.

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    • You have a firm grasp on the obvious Stevie boy............

    • I'm seeing the 50dma of the Nasdaq rollover which is hasn't done since the end of 2012. Looking at charts of the Nas, S&P and Dow, you can see a de-correlation between the NAS and the two other indices. This is unprecedented going back to 2010. All the talking heads speak of a rotation from momentum/tech, but I don't see any evidence of money rotating "into" anything other than cash - maybe there's some bond and gold buying. Anyhow, I'm sensing this is the beginning of a large move down for the whole market and there is real fear in the NAS which started spreading to the other areas on Friday afternoon. Does anyone really think the Nasdaq would correct all by itself?

      • 2 Replies to rudedude_2k
      • The Nasdaq has more issues that were above reasonable valuations. In the early stages of a bull market people do not get concerned about that. Now the market is much more expensive, but not overvalued. It makes sense for the momentum favorites to cool off, and for more attention to be paid to valuations. There is still few alternatives, who wants to buy bonds that pay so little relative to inflation.

      • Watch moving averages.... that's fooled a lot of us again and again. Just look at trend. Charts are proceeding up, even with doctored news and reports; no place to save for interest, and many brokerages are giving money for new accounts to get more retail investors started. Demand outpacing supply, even with IPO's and share dilusion.

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