Okay, who put their fat finger on the market today?
Our 12:30 PM market update on the majors advances and declines.
The graph is worth noting as the DJI is down around 200 points; the NYSE DECN (lime green line) is nearly off of our graph at the top – the first time we’ve seen it this high. The TICK shows extreme volatility. The S&P 500 has dropped from last Friday’s high of 1894.95, to nearly breaking through Tuesday’s bottom at 1837.62, stopping at 1840.72 then making a slight uptick.
Disregard Yahoo Finance’s Thrifty Fifty – this is a market of ” volatile anomalies”.
For example: Asian ADR’s seem to have come into favor as offshore safe havens. Is this a Double Irish play? SHI (Shanghi Petrochemical) for example is up +18.24%. ACH (Aluminum Corp China) is up +9.86 at 10.25.
Domestic RAD (Rite Aid) is up at +11.48% today, yet Trefis gives RAD a -55.36% downturn on it’s current price, trading around $7.10.
TITN (Titan Machinery) is up +13.48%, getting a boost from their earnings report before market was $0.35 versus an expected $.18. Can it hold?
It’s a good day to be a Bear. You gotta love the color “RED” going into the Market Maker’s Crank Up.