The markets traded in a lackluster fashion today. Financial stocks struggled but technology did quite well in part due to Dells (DELL) earnings announcement after Thursday's close.
Digital Ally (DGLY) was up 11.75%. Digital Ally received a fourth order from an international law enforcement agency. The order for approximately 1,000 DVM-500 In-Car Digital Video Rearview Mirror Systems is expected to ship in the second quarter of 2008. The co also reiterated its previous guidance that its revenue for the year ending Dec 31, 2008 is expected to increase more than 100% to approximately $40 mln.
Notable gainers included Rensola (SOL) gained 6.95%, Mercadolibre (MELI) was +4.85%, and Gafisa (GFA) ended +4.37%. On the downside, Regions Financial (RF) was - 4.0%. Most of our other large company bank holdings were also down.
Oil fell back in price this week along with gold and commodities. If the market can continue to consolidate in this area or drift down over the coming weeks, we might be able to see the markets move the higher.
Friday, May 30, 2008
Thursday, May 29, 2008
Markets gain on increasing volume
The markets moved higher for the third straight day. The Dow Jones Industrial Average managed to close just on its 50-day moving average. The Nasdaq closed on its 200-day moving price average which is a good sign.
The Nasdaq and S&P Midcap 400 indicies have shown good strength recently. Oil stocks have struggled the past few days . Metals, Gold and Silver stocks were hit especially hard today while Discount Retail, Medicals, Consumer and Machinery Stocks showed good strength.
For additional information, please visit my main website http://www.daretcapital.com and go to the Daret Capital Management Blog.
The Nasdaq and S&P Midcap 400 indicies have shown good strength recently. Oil stocks have struggled the past few days . Metals, Gold and Silver stocks were hit especially hard today while Discount Retail, Medicals, Consumer and Machinery Stocks showed good strength.
For additional information, please visit my main website http://www.daretcapital.com and go to the Daret Capital Management Blog.
Friday, May 16, 2008
Markets struggling near the 200-day moving averages
The Dow and S&P 500 are running into resistance at the 200-day moving average. The Nasdaq recently broke above it and the S&P Mid-cap 400 is well above it.
This is a test posting right now since I'm still trying to get up to speed with this blog.
Thank you,
Arthur Daret
This is a test posting right now since I'm still trying to get up to speed with this blog.
Thank you,
Arthur Daret
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