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RVB's Market Musings

What began here as an avenue to interact and learn has far exceeded those goals.

If you are a prospective employer, please consider this site a place where you can see my passion for investing...

Wednesday, March 29, 2006

Big day for the Nasdaq!

Actually, today was a broad rally in the markets. Typically, stocks do well when the Naz is doing well. The Naz was up 1.45% today, which is on the high end of recent volatility. Volume was 2.4 billion, about 20% higher than average.

Apple Computer +6% on over 80 million shares
Shufflemaster +9% on almost 4 million shares
Ameritrade +9% on over 20 million shares

...again you get the idea. You can go to Uglychart to see a list of new highs. Notice that there there were 427 new highs and only 29 new lows. That is strength in numbers!

The weakness I predicted on March 7 never really came to fruition, as the indices have just consolidated sideways since. This, along with a day like today leads me to believe that there is more strength than I anticipated, at least among tech stocks with the Nasdaq making a new high.

Medium-to-long term, I am concerned that we will see a short recession and bear market. But, for the short-term, things look alright.


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