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October 2009
You are browsing the archive for October 2009.
Fear and Panic Take Hold of Wall Street as Stocks
Same story again on the Street Wednesday as stocks were sold off in panic fashion as fear over housing and the overall recovery continue to take hold. If you haven’t been on the sidelines watching with cash like many of us you have enjoyed seeing your stocks take a big hit. We are in a [...]
Share on FacebookWeakness Spreads as Buyers Stand Aside
Earnings season has been a rough time for stocks and Tuesday’s session was another reminder expectations remain too high. The market got a big hit from an unexpected fall in Consumer Confidence with a reading below 50. It was the first time since July the reading dropped below the 50 level. Piling on was a [...]
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Dollar Rallies as Stocks Fall on Mixed Volume
Stocks enjoyed an early morning jolt only to see those gains evaporate in a hurry. Rumors swirled about a possible downgrade of one major bank sent traders to the exits and stocks never recovered. Volume zoomed higher on the NYSE but remaind tame on the NASDAQ. There was very little support for stocks at the [...]
Share on FacebookKeeping You Updated On A Busy Month For Me
The market is in an uptrend and longs are still working but there are some flaws showing up in the forms of distribution days, short scans increasing in size, and some failures by some past leaders. Make sure to take profits if you have not and be very careful with new longs here. Besides that, [...]
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GDP Surprises Giving a Boost to Stocks as Volume Slides
By BigWave_Trader on October 30, 2009
Gross Domestic Product surprised to the upside on Thursday bringing into question those who are doubting the current recovery. On Wednesday, Goldman Sachs lowered their GDP forecast from 3.0% to 2.7% giving traders a fright. Volume was on the lower side of things after Wednesday’s capitulation type trade. However, volume did rise above its average [...]
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