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Well, that lasted about as long as could be expected. 95% of the nasdaq
100 were down today. 95 out of 100! My guess is 35% taking profits, 35%
limiting losses and 30% reshorting. Why? No reason at all. An early
morning rumor which was not true and an employment report which was not a
minus for the market and well.. and nothing. Just the glass is half empty
and leaking. It's a trader's dream.
Oil and natural gas issues did very well today. I will continue to add on
any weakness. EPG was up 2 9/16, RIG off 1/16 and RRC up 5/8. (I have
14,000 RRC).
Hope everyone had a good day... as they used to say on Hill Street Blues..
"Be careful out there"
Bob
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