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Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

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Diamonds and Dogs

8/24/15

Skyworks Solutions (SWKS) is one of the few diamonds today. The chip maker that counts Apple as a major customer rose 1.8% after Apple disclosed mid-quarter guidance indicating that business remains strong and is actually accelerating in China. Most companies can't say that. Apple's stock was also a diamond mid-day until it dropped into the red once again by the close. Tough day for the bulls.

 

Back to back to back. For the third day in a row, the dog was …Everything.  We followed up  a 500 point down day on Friday with a second 500 point decline with the first ever 1000 point decline on the open. The morning session set up a good capitulation point for the bulls, but with the buyers fleeing once again into the close, we may see more  weakness in the coming days. Energy and material stocks continue to lead the decline with no sign of letting up with most of the major players making new 52 week lows today. A tough time to be in the oil space.  

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.