Another Wild Intraday Session Ends With Stocks Higher On Lower Volume; Some Very Nice Charts Are Starting To Be Created

March 5, 2008 | 6 Comments

It was another insane day for market participants as the market started off on an impressive note. But, just like the past umpteen amount of days, stocks then sold right off erasing all of the gains, and then spent the final two hours really doing nothing. But that is our market recently and the one thing that we can at least say about that is that the directionless market hasn’t changed thus not throwing us for any nasty surprises.

Posted by Joshua Hayes | Filed Under Bronze Commentary

Powerful Late-Day Bullish Reversal Sends Stocks Well Off The Lows On Much Higher Volume; Still Not Out Of The Woods Yet

March 4, 2008 | 2 Comments

I have received some, but not a lot, of emails from some people asking for more short ideas and less longs. Well, the problem with that is that most of these emailers are too new at the market to be playing the short side anyways. And also once the newbies notice something, it is too late.

Posted by Joshua Hayes | Filed Under Bronze Commentary

V Is For Volatile; Stocks Spend Intraday Session Creating Wild V-Shape Patterns, Closing Mixed On Lower Volume

March 3, 2008 | 8 Comments

One theme continued today, that has been going on for a while now, and that is that today is yet another overall boring market session. Intraday the 5 and 60 minute charts might look like a fun roller coaster but on a long term daily chart or a short term weekly it becomes clear that for the past five weeks we really haven’t gone anywhere which is why we still have a historically low VIX around 26. However, intraday it is a wild ride and unless that sort of action is your bag, there is nothing for an active investor to do but wait patiently for those perfect setups. If Jesse Livermore, the greatest trader ever, can go years waiting for the perfect trade, I can too.

Posted by Joshua Hayes | Filed Under Bronze 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

It Is All About Oil And This Very Weak Economy; Stocks Fall On More Subprime Bad News

February 28, 2008 | 4 Comments

Stocks started off weak as an afternoon reversal yesterday continued to weigh on stocks today. But shortly after the open stocks found some footing and rallied ahead until news hit the wires of Bernanke warning investors that small banks with big investments in real estate may collapse in the housing slump. That helped reverse stocks lower, and after that one more feeble attempt at a rally failed, stocks then ticked lower to end the day down around 1% across the board. It wasn’t an ugly day but it wasn’t a great pullback either.

Posted by Joshua Hayes | Filed Under Bronze Commentary

Early Morning Rally Turns Into Ugly Reversal By Mid-Day But A Final Hour Bid Helps Stocks Close In The Green; Where Is The Volume?

February 27, 2008 | 6 Comments

Well, today sure was a bit odd. Stocks started off the day weak but ended up blasting off higher until about 11am EST and after that it made a little more headway but then rolled over giving up almost all of the gains before rallying one last time until the last 30 minutes when it calmed down a bit. So it was a little wild but not that wild. Overall, what it really was was just another confusing market session in a short-term uptrend and intermediate-term downtrend market.

Posted by Joshua Hayes | Filed Under Bronze Commentary

Very Nice Rally Powers A Lot Of My Longs To Great Gains; For All The Bullishness Today, Did Anyone Notice Volume Is Still Below Average?

February 26, 2008 | 16 Comments

Everyone sure was happy today, after seeing the market rally off the back of an IBM share buyback announcement. What is surprising about this is that today’s rally seemed to cause all of the “bottom-callers” to come out of the woodwork. I received a few “I told you so” emails in my inboxes that made me have a hearty laugh. There is something that these very cocky and exuberant bulls have not noticed. There is still absolutely NO volume on the rally. Today was yet another day of strong gains on lower volume, just proving that this is a bear-market rally that is punishing the johny-come-lately shorts that started shorting the market after the gap lower in January. Woops.

Posted by Joshua Hayes | Filed Under Bronze Commentary

SP 600/NYSE Lead Stocks Higher As Stock Indexes Post Decent Gains On Mixed Volume; The Big Trend Is Still Down

February 25, 2008 | 10 Comments

One thing that I love more than anything else is when I open up the ‘Big Picture’ by IBD and see the exact same thing that was on my mind being spoken of immediately.

Posted by Joshua Hayes | Filed Under Bronze 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 Selloff A Day After Strong Gains, Once Again, But Volume Comes In Lower; Bottom Callers Are Starting To Wonder About Their Bottom

February 21, 2008 | 9 Comments

Today proves one thing: CASH IS KING. There is no other better way to start this commentary off tonight than by reiterating what I have been saying for the last few weeks. This market simply has no direction and since around January 15-16 the market has basically gone nowhere, just trading in one giant range. This tightening range is showing up as symmetrical triangles on the daily charts of the Nasdaq, SP 500, and other indexes. The problem with this is that the range is tightening on lighter volume. Lighter volume consolidation patterns usually lead to a breakout in the same direction that the base came from. That trend is down.

Posted by Joshua Hayes | Filed Under Bronze Commentary

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