Investors showed little willingness to step back into the stock market after it advanced more than 3% last week. In addition to the light trade, action was also rather quiet and stocks spent most of the session stuck in a narrow range. Hewlett-Packard did disappoint with its downward revision of first quarter earnings. Research In Motion was a primary leader after it was upgraded. The Nasdaq Composite has managed to maintain a modest gain as large-cap tech issues like Cisco Systems provide support. The QQQQ implied volatility remained low.
Tuesday, March 9, 2010
Approaching resistance
Investors showed little willingness to step back into the stock market after it advanced more than 3% last week. In addition to the light trade, action was also rather quiet and stocks spent most of the session stuck in a narrow range. Hewlett-Packard did disappoint with its downward revision of first quarter earnings. Research In Motion was a primary leader after it was upgraded. The Nasdaq Composite has managed to maintain a modest gain as large-cap tech issues like Cisco Systems provide support. The QQQQ implied volatility remained low.
