Technical: S&P decline to 1448 likely, but IOC could defy the trend

[Palm]

Looks like we are into the correction mode as expected in the overall markets. With crude now dropping below $90 we are headed into healthy correction. Markets had too much fluff to stay that high. Apple has now corrected just over 5%; more to come probably.

[ValueSleuth]

Looks like we are into the correction mode as expected in the overall markets. With crude now dropping below $90 we are headed into healthy correction. Markets had too much fluff to stay that high. Apple has now corrected just over 5%; more to come probably.

Such a correction was way overdue.

The window dressers are turning tail at the end of the quarter and trying to lock in profits.

There may be a continuing race to the exits.

VS

[ellerslick]

Looks like we are into the correction mode as expected in the overall markets. With crude now dropping below $90 we are headed into healthy correction. Markets had too much fluff to stay that high. Apple has now corrected just over 5%; more to come probably.

Such a correction was way overdue.

The window dressers are turning tail at the end of the quarter and trying to lock in profits.

There may be a continuing race to the exits.

VS

The DOW is down 158 points from the recent top, I would not call that a correction. I will use IOC's top at 96 (not 99) and todays price of 75.17 for a decline of 21.87%. Now that is a correction in less than a week.

[Palm]

I think you really need to use daily closing prices to look at trends/corrections.

[Petrovale]

Off risk attitude in the market doesn't help IOC.
The options plays are key in pointing out future direction.
I believe this is the essence of a "news based" equity play.
Very frustrating, waiting for PNG gov, but that's how it is.
Best thing to do, is to trim and add, along the way, as always.