Thursday, July 30, 2009

SYMC trade setup 7/30/09

Early morning offered a decent set up for a select few short trades. We saw the major indices catch a bid early a.m. MA, V, LVS, MGM, WYNN and several stocks initially seemed strong. But 20 minutes into the trading day we saw the SPX make new highs with the leading stocks on the open not confirming. The Nasdaq was also not confirming highs. Meanwhile several names (AKAM & SYMC) remained weak.

SYMC ended up dripping lower all day and picking up some acceleration lower as SPX sold off in last half hour.

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