Via mymoneylife.blogspot.com/:
The market closed basically at its lows for the day. The market had been up for the last 12 Fridays, as traders tried to position for any weekend M&A activity that would boost the market come Monday morning. But leave it to the market, as soon as a trend gets overplayed it becomes DOA.
Amongst the sea of red on my screens at the close, there were a few standout stocks. One was Google (GOOG), which made a new closing high today. That's some strong action in the face of overall market weakness.
Another stock that stood out was BE Aerospace (BEAV), which judging by the volume was obviously skewed by the Russell rebalancing. Nonetheless, the stock closed at a new high.
long BEAV, GOOG
$41.07 (06/23/07)
