Daily Market Snapshot 01 19 2012

Daily Market Snapshot

The Bar Chart side of the Snapshot is telling us that better than 25%
of the stocks in the S&P 1500 are overbought.
We need to further reduce our exposure to overbought sectors.

Earnings Season - Google Misses

Google missed the street's target on earnings. The stock is being punished in after hours trading. As I write Google is down about 7.5%.

As you know, I like to follow the buying and selling activity of the big money players in the market, the hedge funds, mutual funds, etc. I use Pascal Willain's Effective Volume Indicator to accomplish this research.

The Large Players don't always get it right. The following chart shows that the big boys were making large Google purchases going into today's close.

I sold our Google share prior to today's earnings report.

Google chart at the close...

Google after hours.  Ouch....