AI
Friday, December 12, 2003 2:59:21 PM
MARKETGEMS 3:00 EST Market commentary
This morning's 09:45 AM EST release of the disappointing, or weaker than expected December University of Michigan sentiment (89.6 vs. consensus of 96.0) did see selling on that release, but the major indices snapped back to unchanged and then posted gains at the 11:00 mark (builders were for the most part strong through noon), all except the NASDAQ-100 and the SMH (shorts were pretty strong from the morning opening gate from our SHORT LIST) from the cover on the semis (around 11:00 as usual our SECOND KEY REVERSAL period after 10:00 first one) and techs were trading from lengthy lackluster consolidation to highly choppy, with no clear direction.
marketgems staff
New earnings plays moving well
This morning's 09:45 AM EST release of the disappointing, or weaker than expected December University of Michigan sentiment (89.6 vs. consensus of 96.0) did see selling on that release, but the major indices snapped back to unchanged and then posted gains at the 11:00 mark (builders were for the most part strong through noon), all except the NASDAQ-100 and the SMH (shorts were pretty strong from the morning opening gate from our SHORT LIST) from the cover on the semis (around 11:00 as usual our SECOND KEY REVERSAL period after 10:00 first one) and techs were trading from lengthy lackluster consolidation to highly choppy, with no clear direction.
marketgems staff
New earnings plays moving well
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