Tuesday's action - Dow down, but some buying

[Paul Motter]

What do the traders here think about today's stock action? Amazon was down almost 80 points but rallied back to positive, but ended on the down side.

But that means there were people buying the dips - but are they holding on or just trading. I guess the key is to look at volume, right? Actually most of the early buying (at the lowest price) had the heaviest volume, 20k to 60k shares a minute for example. The slow selloff was a trickle of 15k shares/minute.

Are the buyers holders or just traders?

 

[Natural Citizen]

Don't do it.

 

[SassyIrishLass]

Depends on what type of trader you are

 

[MarathonMike]

I don't watch individual stock action. I've been watching the S&P 500 as I've posted for the last couple weeks to watch the 2710 level. It was retested and broken. Now the next support level is 2620-2630. That was tested once today and came off it. I've only made one trade in the last 3 weeks RTN and made some money before it dropped again. I'm not buying anything yet, I want to see where the bottom gets puts in on the S&P then I'm buying. Just my $.02 what are you guys doing?

 

[MarathonMike]

I don't watch individual stock action. I've been watching the S&P 500 as I've posted for the last couple weeks to watch the 2710 level. It was retested and broken. Now the next support level is 2620-2630. That was tested once today and came off it. I've only made one trade in the last 3 weeks RTN and made some money before it dropped again. I'm not buying anything yet, I want to see where the bottom gets puts in on the S&P then I'm buying. Just my $.02 what are you guys doing?

S&P watch update we are 6 points from the 2630 low at 2:10pm EST. Looks almost certain to retest or break below the level.