Monday, December 19, 2011

BAC under $5, in other news...

The market started to sell-off about 2 hours into the session. After that, price basically went sideways.
When the last hour of the session began, we started diving fast on big volume. It coincided with Bank of America (BAC) breaking the $5-barrier. However, I'm not interested in financial stocks, I would rather buy strength than weakness... A small bounce in the last minutes of trading, but nothing important. All major indices closed near the lows on lower volume (the latter not surprising, the week before Christmas).

5m-chart SPY:

Daily charts DIA, SPY, QQQ and SMH:

Oil keeps trading near 94. The euro and gold were down little. But not silver, it lost 3% while copper was down over 1%.

A few articles to end the day:
Trending Value (or how to crush the market)
Understanding Enonomic Reports
Most stock funds post losses this year; bonds gain

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