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Tuesday, December 11, 2007 

Fed reduces rates and markets fall

Chart courtesy of stockcharts

The Dow Jones industrial average has plunged nearly 300 points as investors disappointed by the Federal Reserve's rate cut sold off stocks. The Dow ended the day losing 294 points to 13,432.42. The Standard & Poor's 500 index fell 38.31 points, to 1,477.65, and the Nasdaq composite index fell 66.60 points, to 2,652. In my opinion, apparently this decision was really a disappointment but this is not a reason for a Sell-off like this, I think tomorrow we'll close in the green. For now the bull trend from 1406 lows on SP still remain intact. The next couple of days will tell the story.Let's see...

Chart courtesy of stockcharts

Nasdaq has a support at 2063.

Chart courtesy of stockcharts

Keep an eye on VMware shares tomorrow for a possible breakout over $100.

Chart courtesy of stockcharts

After a day like this, the behaviour of Rambus shares surprised me completely. Stock still showing a lot of strength to move up, and today was a good example.

Disclaimer : Trading stocks involves risk, this information should not be viewed as trading recommendations.The charts provided here are not meant for investment purposes and only serve as technical examples.

That's All. Have a nice evening !!!


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About Me

  • I'm a 48 year old Independent Trader using proprietary technical analysis with more than 20 years experience of investing in the US stock markets. I started this blog in 2006 simply as a way to share my thoughts about capital, risk management, and trading. My blog contains only my personal opinion and is provided for informational purposes only.

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