Stocks Find Intraday Support, Again, With All Indexes Closing Higher On The Day; Leading Stocks Continue Outperformance
February 7, 2007 | Leave a Comment
It was yet another driftless day for stocks, overall, as comments from Fed heads Bernanke, Yellen, Moskow, and the Treasury Secretary had no major effect on the stock market. There was no catalyst for stocks to move in one way or the other. It was basically about earnings action in individual stocks and nothing else, today.
Freezing Weather And Super Bowl Hangover Keeps Major Stock Indexes Mixed, Flat, And Dull; Leading Stocks Outperform
February 6, 2007 | Leave a Comment
It was a dull day of direction-less movement for the major stock indexes, as several mergers failed to move stocks one way or the other. STT acquiring IFIN, TRI going private, SPG bidding for MLS, and Carl Icahn’s AREP bid for LEA were the highlights of the day. Read more
Stocks End The Week With Strong Gains, After A Very Quiet And Choppy Session
February 3, 2007 | Leave a Comment
Stocks were able to hold on to the post-Fed gains, as uncertainty over interest rates off the job data helped keep stocks tight. Jobs coming in below estimates, unemployment ticking up, weak gains in wages, and a lower revision to the Michigan confidence numbers were all good reasons to knock stocks down. But strong factory orders and a clearly powerful uptrend was good enough to shake off the jitters that can be seen today in your intraday charts. Read more
Leading Stocks And Small Caps Lead As Stocks Rise Again; SP 600, NYSE, And DJIA All Hit All-Time Highs
February 1, 2007 | Leave a Comment
Stocks continued to do what they have been doing all week and that is gain ground in the face of the ever growing loud bears. Even with GOOG and DELL trying to knock the market down, the market just keeps on rolling. Yes, I am also hearing a lot of bullish talk but trust me I monitor a lot of message boards and chat rooms–there are plenty of top callers out there. As long as they exist this market just keeps rallying in their face. All-time highs in three indexes doesn’t even seem to shut them up. But what else should I expect? Read more
Dovish Fed Helps Give Stocks A Big Boost, As Stocks Rise Across The Board.
February 1, 2007 | Leave a Comment
Investors were definitely happy to see the Fed leave rates unchanged–even though I am not sure what else they were expecting–and rewarded the stock market with gains across the board. The Fed stated that core pricing pressure subsided, which relieved inflation concerns, and stated that economic growth was firmer and the housing market has stabilized. These comments without a doubt contributed to the gains. Read more
Stocks Finish Green Across The Board, As The Fed Begins Its Two-Day FOMC Meeting; Crude Oil Jumps 5.5%.
January 30, 2007 | Leave a Comment
As is usual on a day where the Fed meets to decide interest rates, stock pretty much did nothing. However, the overall trend of the market is up and stocks followed the path of least resistance, closing green across the board. Even a gigantic jump in oil could not stop the market from throwing up positive gains.
At the closing bell, the SP 600 rose .7%, the SP 500 rallied .6%, the Nasdaq gained .3%, and the DJIA closed higher by .25%. Read more
Stocks End The Day Mixed But Flat From Friday, After A Wild And Volatile Session.
January 29, 2007 | Leave a Comment
Stocks ended mixed, after a wild day of trading, as traders positioned themselves ahead of the Fed meeting. To me, it just showed that the bulls and bears are both being very stubborn here and are evenly matched.
At the close, the SP 600 was up .4%, the Nassy finished up .2%, the DJIA ticked higher by .03%, and the SP 500 diverged closing with a .1% loss. The IBD 100 finished up .4%, keeping pace with the SP 600.
Volume was lower on the Nasdaq and higher on the NYSE. The higher volume on the NYSE does not make today a distribution day because the index was not down .2%.
Read more
Stocks End Mixed On Lower Volume, As A Big Merger Rumor Helps Lift Stocks Off Their Lows.
January 27, 2007 | Leave a Comment
Stocks started the day off very strong but soon started selling off, after strong durable goods orders, strong new-home sales, and bond yields ticking higher sent signals to traders that the Fed would not be cutting rates any time soon. Thankfully, a rumor of Bank of America and Countrywide Financial merging and more positive earnings helped lift stocks well off their lows. Read more
Today Was The Exact Opposite Of Yesterday, As The Market Stages One Ugly Reversal; Mixed Volume Leaves Things A Bit Ambiguous.
January 26, 2007 | Leave a Comment
After such a nice day yesterday, where the Nasdaq bounces right off its 50 dma, the last thing you want to see is an immediate reversal; well that is what we got. Stocks almost gave back all of yesterdays gains in the Nasdaq and gave all of the gains back in the SP 500 and DJIA on a report on existing-home sales. This along with a weak response to the 5-year note auction helped slam stocks. Read more
Stocks Show Why It Is Silly To Short The Market Before A Clear Downtrend Is In Place.
January 24, 2007 | Leave a Comment
A lot of good earnings helped the market shake off some recent selling as stocks rose across the board with leaders leading the way.
At the close, the Nasdaq led the way with a 1.4% gain as the index reclaimed its 50 dma, the SP 600 followed with a 1% gain, the SP 500 was up .85%, and the DJIA put in a very solid .7% gain. Leading stocks were the clear winners, with the IBD 100 up 1.6%. Big cap tech was the best on the day, however, as the Nasdaq 100 rallied 1.65%. Read more
- No New Long Positions For Friday’s Stock Market Session
- Two New Short Positions For Friday’s Stock Market Session
- No New Long Positions For Thursday’s Stock Market Session
- Two New Short Positions For Thursday’s Stock Market Session
- No New Long Positions For Wednesday’s Stock Market Session
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