The Nasdaq 100, Full Of Big-Cap Tech Stocks, Leads A Mixed Market; Volume Is No Where To Be Found, After Weeks Of Huge Trade

August 22, 2007 | Leave a Comment

There really is not a lot to say about yesterday’s market. I read once again that the Fed has injected funds into this market. Sheesh, I just think this is such a bad idea. I would rather see them knock down the Fed Funds rate than do something as silly as this. They may be able to prevent a crash, but if the market is going to fall the market is going to fall. There is nothing the Fed can do to stop what the forces of millions of investors control. The Fed, I hate to tell you, is not that powerful.

Posted by Joshua Hayes | Filed Under Free Commentary

One New Short Position For Wednesday

August 21, 2007 | Leave a Comment

new short position: BNI

BNI is putting in a reversal right at the 200 day moving average, on strong volume. After puttin in a series of tops in April, May, and July, BNI has finally slipped below the 200 day moving average and has been unable to get back above the 50 day moving average or hold the 200 day moving average. The moneystream line has been showing extreme weakness and the RS line is confirming the lower highs. The weekly chart clearly shows that there is some heavy distribution hitting this stock the past five weeks as volume has been well above average and is some of the heaviest since 1995. So there is some real selling going on here. The dividend is only 1.6%, making this a good short with a tiny dividend to pay. Cut your first and the majority of your loss with a close above the 200 day moving average and the rest of your loss with a close above the 50 day moving average, if BNI is not ready to top and move lower immediately.

Posted by Joshua Hayes | Filed Under Free Archives Shorts

One New Speculative CANSLIM Long Position And One Speculative Long I Am Adding To My Existing Position

August 21, 2007 | Leave a Comment

Neither one of these are good longs to load up on. VII is way too extended from the 50 day moving to make a safe long for novice investors. A pullback would make it a bit better, but still the average daily volume is very low making it very risky. And those familiar with this blog already know why I don’t like DGSE for you guys. Just look at the past month.

Posted by Joshua Hayes | Filed Under Free Archives Longs

Nice Intraday Reversal Takes Stocks Well Off The Lows, On Much Lower Volume; Wall-Street Goes On Vacation

August 20, 2007 | Leave a Comment

Today was easily one of the most dull days my scans have ever seen. There was not a single scan of mine that had more than 32 stocks in it. That pretty much told the tale of the market today, as today’s intraday reversal came on volume 30%-40% lower on both exchanges. Therefore, I continue to believe we are in the middle of a dead cat bounce.

Posted by Joshua Hayes | Filed Under Free Commentary

No New Short Positions For Tuesday

August 20, 2007 | Leave a Comment

Not only were there no shorts in my scans but even if there was it would be hard to take them considering how poorly the short setups are working right now. Obviously, the market, is telling us it not only is not the right time to be long, it is not the right time to be short. Just look at the action in RIMM and CROX and you can see when the leaders are hitting all-time highs and nearing them. When that is happening it sure is not the right time to go all-in on the short side.

Posted by Joshua Hayes | Filed Under Free Archives Shorts

No New Long Positions And One Stock I Am Adding To My Existing Speculative CANSLIM Position

August 20, 2007 | Leave a Comment

Everybody is familiar with the only stock to come up on my scan worthy of a purchase. A few 100 shares couldn’t hurt, as this stock continues to trend higher nicely on strong volume and max green BOP. But do not load up on this one as the market is still in a trendless mess of volatility.

Posted by Joshua Hayes | Filed Under Free Archives Longs

What A Wild Week It Has Been; Stocks End The Week On A Bright Note, Sending Chills Down The Spines Of The Johny-Come-Lately Shorts

August 18, 2007 | Leave a Comment

This was by far one of my most favorites week, since 2004, by far. The amount of emotion with fear, greed, and confusion was by far the most I have seen probably since the downturn in 2005. So, obviously, I must have been pulling my hair out. Right? Wrong.

Posted by Joshua Hayes | Filed Under Free Commentary

Two New Short Positions For Monday

August 18, 2007 | Leave a Comment

Neither one of these deserve more than the usual very small investment. For me it is only $500 max. Trust me, that is very small. The time to short stocks in-bulk is no where near yet. Did you see how RIMM has acted the past two days? Trust me, it isn’t time yet.

Posted by Joshua Hayes | Filed Under Free Archives Shorts

One New Very Speculative Long Position And One Speculative Stock I Am Adding To My Existing Position

August 18, 2007 | Leave a Comment

I do not mind if you trade PRAI. but I definitely do not recommend any inexperienced or emotional investor/trader take a position in OPK. That stock is not worth the risk.

Posted by Joshua Hayes | Filed Under Free Archives Longs

Powerful Reversal Catches Those That Panicked Off-Guard; Cover Part Of Your Shorts That Put In Big Reversals Today

August 17, 2007 | Leave a Comment

Today’s reversal is very significant. While it may not be “the bottom,” it definitely looks like one on the short term. However, even if this thing follows through, unless we see a lot of stocks breaking out of beautiful chart patterns with great fundamentals, it will not matter. The rally will not hold. But for now a bounce has to be expected. Intraday it got very very euphoric for the bears and a lot of bulls had enough to finally capitulate and sold into the panic selling.

Posted by Joshua Hayes | Filed Under Free Commentary

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