Wednesday, March 3, 2010

02/03: Markets flat-line

Markets traded tepidly on the second day of March, with the S&P500 closing ahead by 0.2 percent and settling at 1118. The intra-day high and low, respectively, were 1123 and 1117. Yes, the trading range was indeed just shy of 7 points. Here's a 10-day chart (15-minute bars) with a 50-period SMA, courtesy of

In my own trade, I decided to dip my toes into the long waters yesterday. Many leading stocks became attractive upon the late-afternoon market pull-back, and I entered BAC and BA, each at key support levels ($16.40 in the case of the former, a key level off the 60-day; $64.35 in the case of the latter, an important support off the 10-day chart). Gold and the USD notched bullishness. In the case of the precious metal, one should be mindful that present prices, while off of last year's highs in USD terms, are actually at all-time highs in EUR terms. Something to ponder!

With the bell <60 seconds away, good luck tight rope walkers!

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