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
Small Caps Lead But Nasdaq Almost Completes A Nasty Round Trip.
January 23, 2007 | Leave a Comment
Stocks were looking very strong today until an afternoon selloff wiped away almost all of the gains. The sell-off started after news that President Bush stated that he would try to double the Strategic Petroleum Reserve as a hedge to supply disruptions. I interpret this to mean that a conflict with Iran will mean a disruption in supply. However, by the close all indexes escaped with positive closes. Read more
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
Nasdaq Suffers A Distribution Day, As Stocks Fall Across The Board; Big Caps Hold Ground.
January 18, 2007 | Leave a Comment
Stocks suffered a rough day, on Wednesday, as INTC’s pricing battle against AMD weighed heavily on the Nasdaq, with INTC selling off. A weak Fed beige book report and a stronger than expected PPI, more than likely, did not help either.
At the close, the Nasdaq led the way on the downside, falling .75%, the SP 600 and the SP 500 fell .1%, and the DJIA fell .05%. Today, unlike yesterday, the IBD 100 and leading stocks led to the downside, falling .8%. The IBD 85-85 fell .6%. 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 End Mixed On Heavy Volume; Churning?
January 9, 2007 | Leave a Comment
On a day where a strong IBD/TIPP poll shows that investors are gaining confidence and AAPL releases the new iPhone and Apple TV, stocks decided to churn one in today. The only exciting action came in the SP 600 which turned a 1.1% loss into a gain by the end of the day.
Ugly Morning Finds Support As Stocks Rally Into The Close.
December 19, 2006 | Leave a Comment
The market started the day with a nasty gap down on two possible news stories. A big jump (largest since 1974) in Producer Prices for November and a scare over a possible new Asian-market meltdown put a lot of pressure on the indexes. However, bulls remain extremely strong in the face of selling and rallied the indexes off the lows all the way into the final hour.
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- No New Short Positions For Wednesday’s Stock Market Session
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