Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

A Strong Dose of Volatility

Action junkies and risk-loving traders definitely got their fix today as the major indices took a plunge. The DJIA and the S&P eventually found support above their 20 day MA's which they successfully bounced off of. It seemed as if the selling pressure finally subsided minutes before the market close as the indices closed a slightly higher than their lows. The NASDAQ fared the best as it closed comfortably above its 10 day MA. The recent strength in the NASDAQ seems to be indicating that the institutions are parking their money in technology and medical-related stocks. While the DJIA has lost institutional money (banks have withdrawn assets from DJIA component stocks), the NASDAQ seems to still contain a healthy dose of institutional sponsorship.

Although most of my stocks took a light beating, there were several stocks that were able to hold their own. APPY, KHD, SQNM and VSEC were among some of todays stronger stocks. Even CKSW and TTG (new picks) were able to close in positive territory. SQNM was one of the top performers for today. The stock surged over 14% on strong volume.


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