Exxon Mobil Trigger The Sell Off
Despite great earnings and strong PPI numbers, the market was wondering up and down in a tight trading range on Tuesday until a major block trade on Exxon Mobil worth over a billion dollars hit the market and that started the sell off. No one knows why the trade was so huge, so the investors see no reason to hold the stocks and sell off. Energy stocks and the home builders were the biggest losers.
After the bell, Intel missed, but Yahoo beat. The great earnings from Yahoo barely move the stock in the after hour. Along with disappointment from Intel, I see difficult market for tomorrow.
Waiting on deck are eBay, Bank of America, Altria, and Juniper network. We’ll see if these stocks can help move the market in positive direction.
It's not when you buy. It's when you sell!
