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Market Commentary
Stocks Rally on Better Than Expected Economic Reports
NASDAQ confirms a new uptrend on big above average volume
Today’s action was precisely the action we have been waiting for as stocks exploded higher on big volume as leaders take charge. Futures were pointing to a higher open prior to economic reports being released. A slightly disappointing ADP employment report did dampen the mood a [...]
August Ends in the Red Closing Taking out Most of July’s Gains
Stocks finish off the lows of the session as the market assesses a bickering central bank
Better than expected home price data from Case-Shiller, Chicago PMI, and consumer confidence figures help drive the market higher for much of the day. Volume had an advantage as Monday’s trading session bore witness to the lightest trading volume of [...]
Stocks Cough Up Friday’s Gains as Trade Slows Significantly
Super Light Trading, but Stocks End at Lows – Cash is still King
Following up on Friday’s gains the market gave a good chunk of the gains back. The selling really began after the release of the Dallas Federal Reserve manufacturing index fell more than expected. Although an improvement from last month’s reading the number disappointed [...]
Top Current Holdings And Total Returns
Currently in portfolio: longs: 17 (20-25% of accounts) shorts: 10 (less than 5% of accounts) cash: 75%
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Stocks Reverse as Fears about GDP Embolden Sellers
A better than expected jobless claims figure did help ignite excitement in the early morning session. But this excitement did not last for very long as buyers simply went to the wayside as GDP revision hangs over the market. Volume ran lower throughout the day and ended about 10% lower across the board. Selling did [...]
Share on FacebookMore Weak Economic Data but Stocks Stage Reversal
The day began at 8:30 am with weak reading out of durable goods orders sending futures lower. Economic data would get even worse with new home sales plummeting much lower than the flat reading that was expected. At the open, volume and price were both lower across the board but with the new home sales [...]
Share on FacebookStocks Fall as Housing and Economic Worries Worsen
Another weak session with sellers dropping the hammer on stocks at the end of the trading session. Existing home sales accelerated the selling after its release at 10am EST. The report showed a drop of more than 27% month over month sales figures highlighting weakness in the housing market. Without the government propping up the [...]
Share on FacebookStock Market Ends at its Lows of the Day in Light Trading
Melt-up Monday did not disappoint traders in morning trading as stocks pushed to highs around 10am. Unfortunately, weakness crept into the market as buyers seemingly went on strike for the remainder of the day. Summer time trading was in full effect as volume was extremely light coming in 24% lower on the NYSE and 13% [...]
Share on FacebookEconomic Data Sparks Selling as Volume Swells
Traders were focusing on economic reports and it kicked off with jobless claims. The market was dealt a blow with economists were expecting to see claims figures down 475,000, but claims rose to 500,000. Futures reacted negatively, but the market was waiting on the Philly Fed index and leading indicators. Stocks began to make a [...]
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Stocks Tack on Gains as Trade Slows
By BigWave_Trader on September 2, 2010
Another day of gains as price follows up on yesterday’s big gains, but trade slows from Wednesday’s elevated level. A series of better than expected economic reports helped boost stocks in early trade. Volume began the day lower and finished in the same fashion, institutions on the whole were simply staying on the sidelines today. [...]
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