Friday, July 14, 2006

Trying To Stabilize

The market is trying to find some support, but the continued exchange of attacks between Israel and Lebanon is not helping the matter. The semis are trying to stabilize, and the SMH is actually up.

Some other stocks that have reversed higher include: SIRF, TXN, BRCM, and WFR.

But most stocks are down again today, while bearish sentiment is growing. The 10-year is down a little more to 5.06%, and oil is still trading near $78.

It seems like the violence in the mid-east is escalating, so traders will likely stay nervous ahead of the weekend. But with sentiment this negative, any progress on negotiations will likely cause a big relief rally.

Other stocks moving on high-volume today include:
  • CACB
  • BIDU
  • TRMA
  • CHE
  • DHI
  • VPRT
  • AIB
  • MTW
  • RTI
  • BFAM
  • AMR

long SIRF, WFR


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