Markets closed down today:
▼ Dow: -0.33 percent
▼ Nasdaq: -0.07 percent
▼ S&P: -0.28 percent
▼ Gold: (NYSE:GLD) down to $1,680.46 an ounce
▼ Silver: (NYSE:SLV) down -1.10 percent to settle at $32.44
▼ Oil: -0.15 percent
Today’s markets were down because (via T3Live.com):
Stocks closed in the red on Tuesday thanks to a last-hour sell-off. However, the damage was minimal, hardly denting yesterday's sharp gains. The Dow and S&P closed down 0.3 percent while the Nasdaq slumped only 0.1 percent. A small pull-back or rest after a big rally is no cause for concern, and the rally remains firmly intact.
The indices were quiet most of the day as strong stocks keep pushing forward. There was a very tight range in the SPY ($141.43-141.83) until the last hour.
It was a constructive day overall, and a stock picker's playground.
Not much to report from an individual stock perspective. In an afternoon note on the Buzz & Banter, I mentioned that Sina and Ren-Ren were waking up a bit, and they took off before the last hour pull-back.
I did sell my Apple, LinkedIn, and Sohu earlier in the day as they met some of my short term objectives. AAPL pulled in off the highs a bit in the last hour, but the relative strength continues as the selling was muted.
...I’m taking down some risk as we keep working through this week before quarter-end, but I don’t see any reason to run for the hills.
Stocks are still rotating and working well.
[Today's recap is brought to you by T3Live.com.]