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Day Trader Radio

Markets Ambushed by S&P downgrade of Greece and Portugal

daytraderockstar post

posted by daytraderockstar

Apr 27, 2010 12:05 pm

Markets are in the red this morning as much better than expected April confidence data is being offset by fears about the contagion spreading outward from Greece. A S&P 2 notch downgrade of Portugal only fanned those fears, which was followed by another downgrade of Greece to junk status. Taking the market by surprise, Currently Dow trading down 144 points and the S&P down 20. I am freeing up alot of cash today and only holding quality until the markets stabilize.

 

Possible opprotunities WAG 34.80, HMO still holding strength, INTC a pullback to 23.35 would be a great support level