There Sure Is A Lot Bullishness Out There After Today’s Huge Lame Bounce; Real Bottoms Come With Volume, Unlike What Cramer Tells You (How Often Is He Wrong?)

March 18, 2008 | Leave a Comment

It was another incredible day in the stock market as this time major market indexes rallied higher anywhere from 3.5% on the DJIA to 4.4% on the IBD 85-85. These gains were incredibly impressive and once again had the DJIA up over 400 points at 420.41. However, after you get past the % gains in the indexes today there really isn’t a whole lot to get too excited about.

Posted by Joshua Hayes | Filed Under Bronze Commentary, Free Commentary

DJIA Leads The Way As BSC Rocks The Stock Market On Mixed Volume; How Can This Be A Bottom Without A HUGE Surge In Volume On the Nasdaq And NYSE? It Can’t Be!

March 17, 2008 | 7 Comments

Please Note: Starting next week this free daily commentary will only be available at BigWaveTrading.net so be sure to check out the new FREE site sponsored by BigWaveTrading.com where Joshua Hayes and Market Speculator will be regularly posting some additional commentary about the markets.

Posted by Joshua Hayes | Filed Under Bronze Commentary, Free Commentary

BSC Blowup Proves A Chronic Emailer Wrong And, Once Again, Proves The Power Of CANSLIM; Stock Market Indexes Selloff On Mixed Volume But Hold Recent Lows

March 14, 2008 | 17 Comments

Please Note: Starting next week this free weekly commentary will only be available at BigWaveTrading.net so be sure to check out the new FREE site sponsored by BigWaveTrading.com where Joshua Hayes and Market Speculator will be regularly posting some additional commentary about the markets.

Today was another day in the stock market that has just gone to prove that cash is in fact king. When you try to play a stock market with a heavy hand or even on margin in an environment like this you either have a serious illness or you just have never taken the time to study history and to have learned that the smartest thing to do is NOTHING. A stock market that is this volatile that has THIS MANY BLOWUP is definitely not a stock market you want to be messing with. Read more

Posted by Joshua Hayes | Filed Under Bronze Commentary, Free Commentary

Incredible Fed-Induced Rally Ends With Stock Indexes Closing At The HOD On Higher Volume; Remember, The Most Powerful Rallies Always Come In Bear Markets

March 11, 2008 | 10 Comments

There is no other way to describe today as rally other than “incredible.” But even though we can say today’s rally was incredible, is anyone surprised, after telling you that the market was extremely oversold and we could get a bounce as the put/call is at 1.41 which is extremely high? You really can’t say you are, since I have hinted that this was coming.

Posted by Joshua Hayes | Filed Under Bronze Commentary, Free Commentary

Stocks Selloff On Higher Volume, Helping Send Some Indexes To New 52-Week Closing Lows

March 7, 2008 | 11 Comments

Stocks sold off yet again but this time it did so on higher volume which is helping make my point that selling can start off slowly and pickup as it sells off. If you look at the downtrend since last February, you can see that this is the case now as it has been in the past with other market selloffs.

Posted by Joshua Hayes | Filed Under Bronze Commentary, Free Commentary

It’s About Time!; Stocks Breakdown From The Triangle Consolidation (NYSE Reverses Its Breakout), On Much Heavier Volume

February 29, 2008 | 16 Comments

Well, I guess, all I can say is, so much for that rally. There were a lot of people that were very confident that the lows in this market were seen on 1/22 and 1/23. Those people that believe that is the case still, are living in serious denial about the true problems this market has. Unless you are only focused on the oil, gold, steel, metal, food, ag, machinery, or chemical stocks, there is no way anyone can be serious when they say they are bullish on this market. Everywhere I look I see some big damage that was caused by today’s selloff and the reality of the situation is very clear to me. This market is not a market to buy.

Posted by Joshua Hayes | Filed Under Bronze Commentary, Free Commentary

Late-Day Bullish Reversal Off The Lows Keeps Stocks From Hitting New February Lows; Volume Remains Below Average, For A Full Second Week In-A-Row

February 22, 2008 | 39 Comments

What looked like was going to be the session before a possible breakdown turned into a bullish reversal by the close, after word of a bailout of the bond insurer ABK. Now, I am not here to discuss the ethic of CNBC of this news and to be honest I could really care less as I think watching CNBC is a waste of time (I just tried to watch it again, recently, and that lasted 30 days). So if you were watching your charts intraday, the spike looked the same as it did on CNBC. It really doesn’t matter what the news announcement was and anyone that thinks that this changes anything must not remember the last time CNBC did this last month. LOL. Different players, same game, with CNBC. You are best to just turn it off.

Posted by Joshua Hayes | Filed Under Bronze Commentary, Free Commentary

Stocks Sell Off And Then Come Back Before The Closing Bell Ending Mixed On An Overall Very Dull Friday; Enjoy Your Long Weekend

February 16, 2008 | 9 Comments

Stocks started the day pretty much where they ended on Thursday but shortly after the open Ben Bernanke (the most CLUELESS fed head ever) talked more about the economic weakness, citing the troubled housing and job markets, ailing bond insurers and a broader credit crunch. This helped stocks erase all of the gains produced by the follow-through day (FTD) in just one and a half sessions. This is not how great rallies start.

Posted by Joshua Hayes | Filed Under Bronze Commentary, Free Commentary

After A Rough Week For Stocks, Bottom Callers Remind Us How Stupid We Must Be; Stocks End Mixed On Lower Volume

February 9, 2008 | 8 Comments

What appeared to be a strong start on Friday turned out to be a big disappointment for the perpetual-bottom callers as stocks closed mixed with volume falling across the board ahead of the weekend. The dull action had to be a bit of a disappointment for all of the people who have been emailing me the past month telling me how stupid all of us trend followers are. Add to that list the crew of Cramer and Marcin and you have a ton of people that have a lot riding on this being the lows.

Posted by Joshua Hayes | Filed Under Bronze Commentary, Free Commentary

Feel Free To Have Fun With Some Longs But Don’t Make Any Long-Term Commitments

February 2, 2008 | 8 Comments

One of the most bullish weeks in years came to a close on Friday with most indexes making good gains despite the losses MSFT produced which you would think would ensure that the markets would have closed lower. However, the rest of the market rose steadily, helping to offset the losses in MSFT due to an announcement that they would like to have YHOO. This helped YHOO explode higher by 48% more than making up for the 6% smack MSFT was dealt. The worst part about the MSFT selling was that it was on extremely heavy volume that was even larger than the late October gap higher breakout.

Posted by Joshua Hayes | Filed Under Bronze Commentary, Free Commentary