Dow Jones 10,006 -126.82 -1.24%
NASDAQ 2,213.55 -15.49 -0.69%
S&P 500 1,073.65 -14.04 -1.29%
This was the kind of day that was mumbly. Mumbly? Well ... the tech leaders like AAPL and GOOG were up nicely on upgrades, as if they needed help. Even financials were up (C, GS). But the S&P 500 and Dow Jones were down all day. Eventually, the Nasdaq guttered and stuttered and finished in the red. Mumbly.
There is no real strength in this market. It is a 99-pound weakling that "ingested" a one-day dose of HGH. The stuff has worn off and now it's about as strong as one of those fat, yet limp caged-up chickens sitting in its own feces (Food Inc.), just a few weeks away from your table and mine.
But I digress. All I did today was sleep. The plan was to not sleep, drink my sugar-free Red Bull and discern over the market from premarket to afterhours. Instead, my body said no, no, no. It was worth the rest, as is sometimes the case. Sure, AAPL was available at about 243 when premarket began and hit 250 intraday. And FAZ moved nicely, partly because of the Bank of Spain's move to seize control of a foundering savings bank. That surprised me, even though I read about it yesterday.
All in all, there is very little inflow, it appears, to this market. Nothing can change that other than another Plunge Protection Team move. No flow, no liquidity ... which means we stay flat or drain down the toilet a bit more. I'll keep watching from the sideline.
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