Oracle drags tech shares; euro off after ECB – Sold VXX December 21, 2011
Posted by Marlowe Cassetti in VXX.trackback
The euro fell on Wednesday as doubts set in over whether fresh lending by the European Central Bank would be used to buy struggling euro-zone debt, while Oracle’s weak earnings weighed on technology stocks and kept Wall Street mostly flat.
Global shares edged higher, adding to the previous day’s strong gains, though volumes were thin as the year-end holidays approach.
Italian and Spanish government bond yields rose, snapping an eight-session down trend, while prices of German Bunds edged up.
The Dow Jones industrial average .DJI edged up 4.16 points, or 0.03 percent, to 12,107.74 and the S&P 500 Index .INX gained 2.42 points, or 0.19 percent, to 1,243.72.
But the technology-heavy Nasdaq Composite .IXIC dropped 25.76 points, or 0.99 percent, to 2,577.97. (commentary & photo courtesy of Reuters)
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Quite predictably, the volatility fund VXX hit its stops today and was stopped out. There were no RSI signals after the market close.
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