The Tip-Off I Refered To On Wednesday Had Its Follow-Through On Friday
February 10, 2007 | Leave a Comment
It is kind of odd that a comments from the St. Louis Fed head William Poole, Cleveland Fed head Sandra Pianalto, and Dallas Fed head Richard Fisher could kick start a selloff like it did today, but that is in fact what happened. Stocks started off strong but his comments that he would vote for a hike if inflation stays above 2% was not what wall street was looking for. The momentum of the market took a turn on Wednesday and those comments, along with MU announcing price declines, sent stocks falling across the board with leading stocks in leading sectors getting hit hard.
Stocks Fall Hard But Find Support Around Mid-Day; Lower Volume Prevents Another Distribution Day.
January 22, 2007 | Leave a Comment
Stocks started the day off rough and only got worse as the LEI was delayed. The delay helped the selloff pick up steam and stocks quickly dropped to their low’s on the day. However, like usual, buyers stepped in to help support a declining market. However, by the close, their buying could not prop the indexes back into positive ground. Read more
Oil’s Collapse Helps Lift All Indexes On Higher Volume; Nassy Near Six-Year Highs.
January 12, 2007 | Leave a Comment
Stocks gapped up in the morning, held those levels, and rallied for the rest of the day on the back of another back-breaking decline in oil. This huge 4% drop in oil helped the entire market rally, on Thursday. Oil has now fell 15% in 2007.
At the close, with techs and small caps leading, the SP 600 gained 1.2%, the Nasdaq rallied 1% breaking out above the December highs, and the SP 500 and DJIA gained .6%. The DJIA also hit another all-time high.
Stock Market Indexes Take Off After An Early Choppy Session, Closing Near The Highs Of The Session
January 11, 2007 | Leave a Comment
A day of minor volatility gave way to a nice rally after 1pm EST sending all the indexes in a nice solid uptrend into the close. The possible reason for the rally was a left-over feel good effect off the AAPL news in combination with another drop in crude oil. Today’s 3% drop now brings the yearly damage to 12% for crude.
At the close, the Nasdaq led the way with a .6% gain, the DJIA and the SP 500 followed with a .2% gain, and the SP 600 lagged with a .01% gain. The big winners were the IBD 85-85 and IBD 100 indexes which gained .7% and .9% respectively and the Nasdaq 100 which gained 1.1%. This was the sixth day in a row the Nasdaq and the Nasdaq 100 staged very strong intraday reversals. One look at the daily charts and all those tails shows that any selloff is being bought.
Stocks Rally As Techs Lead The Way; Traders Who Sold Or Went Short Yesterday Feel The Pain.
January 4, 2007 | Leave a Comment
What started out as a crazy morning, once again, for stocks, quickly turned into a day of steady advances. The treat of the day and the possible cause to this was another fall in crude oil prices. The fall today, after yesterday, brings the two day total to 8.9%. Besides that, however, there was no other catalyst.
At the close, the Nasdaq led by a healthy margin rallying 1.25%, the SP 600 gained .15%, the SP 500 gained .12%, and lagging was the DJIA with a .05% gain. Leading stocks were up .4%, doing better than all but the Nassy.
Small Caps Lead Market Lower; Warning Flags Rising Everywhere.
December 18, 2006 | Leave a Comment
It was another merger filled Monday but this time the mergers didn’t help. Stocks started the morning very strong and then reversed with the Nasdaq and SP 600 leading to the downside. At the closing bell, when all was said and done, it was a pretty ugly day. Read more
Quadruple Witching Turns Out To Be Quadruple Boring.
December 15, 2006 | Leave a Comment
Stocks closed the week up for the third straight session, with the help of a kind inflation data. The CPI came in unchanged from a month ago and that helped lift stocks higher. But after stocks hit their highs of the day around 11am EST, they basically drifted lower for the rest of the session closing with small gains.
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