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Monday, October 6, 2008
US stock market indexes keeps their digits.
Dow Jones Industrial Average (DJIA) was losing 800 points went below 10000 points today but closed well off its worst level. In fact we could lost today 2 digits in indexes values. S&P 500 (SPX) was close to point to cross below 1000 which is on the support line formed already in 1995. On this line S&P 500 index had bottomed on 2002 during last bear market low. Volatility index VIX reached new high above 58 and closing.
During a day I was scanning some value plays to my portfolio listed in EUR. I will be opening long position in Dow Jones STOXX® 600 Health Care which is more diversified than Dow Jones EURO STOXX® Health Care. The biggest component in DJ STOXX 600 is my favorite Novartis (NVS) with 25%, followed by GlaxoSmithKline (GSK) 20% and Roche 18%. Altogether index includes 33 components. DJ EURO STOXX has more than half kept in Sanofi-Aventis (SNY) and I am not going bet on one stock.
10:00 PM | Filed Under US markets | 0 Comments
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