Technical measurement of world

Technical measures like breadth, volume, and sentiment suggest the market is topping out
Posted by Anthony Mirhaydari on Wednesday, November 11, 2009 4:10 PM
While the Dow Jones Industrial Average (INDU) continues to flirt with new highs, there are problems beneath the surface.

Since stocks bottomed late last month, volume on the New York Stock Exchange has been in a sustained decline -- dropping more than 36% in a sign of lackluster buying intensity. Compare this to rises out of oversold conditions in July, August, and September on big increases in volume as investors fought to get into stocks. For example, NYSE volume jumped more than 156% during the rally out of the July low.

Also, the CBOE Volatility Index (VIX.X), which is based on premiums charged on S&P 500 options, has reached its most oversold levels since late January based on its seven-day rate of change. Remember that the VIX tends to have an inverse relationship with stocks since it represents the level of fear among investors. So when the VIX reaches oversold levels, it indicates that investors are a feeling a bit too cocksure and are vulnerable to a correction.
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Apple takes bite out of Nokia profit
Apple has overtaken Nokia as the most profitable handset maker, says a research report.
Posted by TheStreet.com Staff on Wednesday, November 11, 2009 3:30 PM
By James Rogers, TheStreet.com

Apple has overtaken Nokia as the world's most profitable handset maker, according to research released Wednesday.

The Finnish handset giant slipped into second place during the third quarter, according to the Strategy Analytics report, as Nokia felt the impact of a tough economy and a stagnant U.S. presence.

"Nokia's profit margin for its handset division has been shrinking during the 2009 global economic downturn," said Neil Mawston, director of Strategy Analytics' Wireless research division, in a statement.

Strategy Analytics estimates that iPhone-maker Apple's operating profit was $1.6 billion during the third quarter, compared to Nokia's $1.1 billion.

Bing: More on Nokia
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