Is This The Start Of A Real Selloff?; Major Stock Indexes Selloff Hard Closing Near Their LOD On Higher Volume
April 30, 2007 | Leave a Comment
Stocks started the day off very flat off the back of a bunch of economic data. Consumer spending rose .3% in the month of March which was the slowest since October and below forecast of a .5% increase. Personal income, however, beat estimates for a .5% gain, coming in at .7%. The core personal consumption index came in unchanged from the previous month dropping the YOY change from 2.4% to 2.1%. This is still above the comfort zone of the Fed, but it is much better than it could have been.
No New Swing Shorts For Tuesday
April 30, 2007 | Leave a Comment
Today was a distribution day but the market is still in an overall uptrend on all time frames except the very short-term.
One New Speculative CANSLIM Swing Long, Two New Speculative Swing Longs, One CANSLIM Long I Am Adding To My Existing Position, And Three Speculative Stocks I Am Adding To My Existing Positions
April 30, 2007 | Leave a Comment
new speculative CANSLIM swing long: ICFI
ICFI is bouncing off support and the pivot point of the early April breakout, on very strong volume. Lots of pretty green BOP in this chart. Cut your loss with a close below the 20.30 level, if the stock does not follow-through immediately. Read more
Stock Indexes Close Mixed And With Little Change, On Lower Volume; DJIA Up 19 Out Of Past 21 Sessions
April 28, 2007 | Leave a Comment
Despite amazing earnings reports from BIDU, MSFT, VSEA, MFW, DV, TEX, MTD, NOV, VLCM, NTGR, and DRIV, stock indexes decided to focus on the early morning GDP report and opened flat to slightly lower. GDP growth came in at 1.3% in the most recent quarter, down from economist 1.8% expectations and a four-year low. The poor GDP reading and the fact that YOY inflation is running at 2.2% definitely had a slightly negative impact. This poor reading helped the Euro hit a record high against the US dollar. The poor numbers were enough to keep the market choppy most of the day but the DJIA still hit another all-time high.
One New CANSLIM Swing Long, One New Speculative CANSLIM Swing Long, Three New Speculative Longs, And Six Speculative Longs I Am Adding To My Existing Positions
April 27, 2007 | Leave a Comment
new CANSLIM swing long: DRIV
DRIV is breaking out of an ascending base pattern on strong volume. Cut your loss with a close below the 50 dma, if the stock does not follow-through on the breakout immediately. Read more
No New Swing Shorts For Monday As The Market Is In An Insane Uptrend; Fighting This Bullish Beast Is Foolish
April 27, 2007 | Leave a Comment
DO NOT FIGHT THE TREND!
If this was a bear market, these two stocks would make great shorts: AKAM ORI
Incredible Earnings Fail To Inspire Stocks As A Choppy Day Ends With Stocks Mixed; DJIA Hits Another All-Time High
April 27, 2007 | Leave a Comment
It was a quiet day on the economic front, with only the initial jobless claims report, which saw claims fall by 20,000 to 321,000. However, when it came to earnings there was plenty of fire and most of it was bullish fire. Read more
One New Very Speculative Swing Long, One CANSLIM Long I Am Adding To My Existing Position, And Three Speculative Longs I Am Adding To My Existing Positions
April 26, 2007 | Leave a Comment
new very speculative swing long: ACUS
ACUS is breaking out above the downtrend line connecting the highs of April and bouncing off strong recent support, on strong volume. The uptrend off the April lows was on extremely strong accumulation and the pullback that followed was on very low volume. Both excellent developments. BOP has been green since early April making this a pretty chart. The fundamentals, however, are not so nice. The EPS is bleeding red and there is no end in site and sales are now slowing. Fund ownership is going in the wrong direction from 11 to 9 This is obviously not the kind of stock to be playing for a safe long-term big winner. This is strictly a mometum play in the biotech arena which has been one of the places hot money is going. Newbie emotional traders should avoid this long completely. Cut your loss with a close below the 3.62 level, if the stock does not move higher immediately. Read more
No New Swing Shorts For Friday
April 26, 2007 | Leave a Comment
No new swing shorts for Friday as the market is in a clear uptrend. The greatest traders of all-time NEVER fought the general trend of the market. I agree with them completely.
Stock Indexes Hit All-Time Highs And Six Year Highs On Very Strong Volume; This Market Feels Like 1999 All Over Again, On A Much Smaller Scale, Obviously
April 26, 2007 | Leave a Comment
Stocks continued their recent run of powerful gains with another day of impressive price action. There were a number of economic numbers and earnings on the table today for investors to digest. The durable goods number for March came in with a 3.4% and February’s numbers were raised to 2.4% rise from a 1.7% rise. This along with some great earnings from AMZN helped gap stocks higher at the open. Read more
- Two New Short Positions For Friday’s Stock Market Session
- No New Long Positions For Friday’s Stock Market Session
- Two New Short Positions For Thursday’s Stock Market Session
- One New Speculative CANSLIM Long Position And One Stock I Am Adding To My Existing Speculative Long Position For Thursday’s Stock Market Session
- No New Short Positions For Wednesday’s Stock Market Session
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