The Recent Rally Was Nothing More Than A Short Covering Bounce!
Friday, the market took a nasty spill and the S&P 500 futures finished 27 points lower. Good performance from the tech sector was overshadowed by major bank stocks. Deteriorating economic statistics also weighed on the market. Intel posted its best number is 43 years last week. It also provided robust guidance for the rest of the year. AMD also posted solid numbers and the stock tried to rally on the news. CSX said that rail shipments across all segments were strong. Transportation stocks are often used as a gauge of economic activity and normally, the market would have rallied on the …
July 19, 2010
• Posted in: Options
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