Toddo On TV: To Drill Or Not To Drill?
Markets, movers and more.
Toddo's glaring at Google (GOOG), as there are two downside technical gaps in the stock. The first, created last Friday, resides between $560 and 555. The second, created by the April earnings report, resides between $450 and $525.
Upwards and onwards. The Minyanville chieftain talks trading "tells," an effective way to gauge near-term direction. Sure, they vary from day to day depending on the news -- Lehman Brothers (LEH), for instance -- but there are subtle whispers if you pay attention. Market internals versus intraday moves is one such clue. This morning, during the rally attempt, the breadth of the New York Stock Exchange failed to improve. That was a classic, near-term downside confirmation.
Other tells include Goldman Sachs (GS) and Google in tandem, financials in general, Big Beta – Research In Motion (RIMM), Apple (AAPL), Amazon (AMZN) -- and macro crosscurrents.
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