Morning Report – December 10, 2013
Small capitalization stocks were down slightly yesterday which indicates that a bit of risk is coming off. The small-cap 600 stock chart shows a small bodied candle with heavier volume. The closing price was below the opening price and when combined with heavier volume indicates profit-taking in some of the small-cap stocks. Regional banks which are very strong on Friday in the small-cap sector so some profit taking yesterday. Also, the biotech group was mixed in the SPDR biotech ETF, XBI, was down .70%. Solar stocks were hit again, and a solar ETF, TAN, has broken support and is now in a short-term downtrend. Volume was heavy yesterday in the solar ETF, so maybe the bottom is near as long holders are shaken out of their positions. It is too early to tell, but keep your eye on it. Casino and semiconductor stocks did well yesterday, while oil related stocks were among the weakest. Read full report
Comments are closed.