Upward Trend Continues
After a long weekend, the market is back and resumed its upward movement on a fairly decent trading volume. The index established a higher high today which is again a bullish signal for the market. All these gains thanks to positive overseas leads last friday, as the DOW touched 11,000 before closing 3 points shy of the important psychological barrier.
The index's gain was led by TEL, energy company EDC, and property giant ALI. JGS once again gained 3% reinforcing a sideways trend. MEG likewise established a higher high today making the next pullback a buying opportunity for this stock. A big winner still is PNB gaining 4.6% with investors finally seeing value.
The S&P VIX is approaching historical lows and contrarians may see this as a time to sell or short the markets. For local markets, this may also be the signal to lock in some gains and save the money for the next pullback (which will come, in due time).
The index's gain was led by TEL, energy company EDC, and property giant ALI. JGS once again gained 3% reinforcing a sideways trend. MEG likewise established a higher high today making the next pullback a buying opportunity for this stock. A big winner still is PNB gaining 4.6% with investors finally seeing value.
The S&P VIX is approaching historical lows and contrarians may see this as a time to sell or short the markets. For local markets, this may also be the signal to lock in some gains and save the money for the next pullback (which will come, in due time).
posted by credit card at
6:47 PM
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