One New CANSLIM Long Position, One New Speculative Potential CANSLIM Long Position, And One Stock I Am Adding To My Existing Position

November 1, 2007 | Leave a Comment

I am not a big fan of the chart of CPLA but the fundamentals are so strong and the breakout is to a new all-time high that I have to poke some. Still it is not going to be big. BIDZ has some incredible growth in the most recent quarter and the breakout came with green BOP so that is good enough for me with the market being as weak as it was today. My favorite chart is FNDT. The max green BOP with the huge surge in volume and the bullish intraday reversal right off the 50 day moving average makes this chart a very near perfect candidate. Too bad BOP was not max green during the whole month of October. If that would have been the case, I might have loaded up.

Posted by Joshua Hayes | Filed Under Free Archives Longs

Stocks Revert Back To Old Ways; A Day Of Back And Forth Meaningless Trading Ends With Stocks Slightly Higher On Lower Volume

April 5, 2007 | Leave a Comment

Stocks went back to their old ways of not doing much intraday but boring us to death, after a few important economic numbers hit the wires. The ISM service index fell to 52.4 in March from 54.3 in February. Expectations were for 54.7, so obviously this was not good news. The prices paid index rose to 63.3 in March from 53.8 in February, indicating inflation is still very real. Also, according to the Census Bureau’s factory orders, orders fell 1% in February after being down 5.7% in January. These numbers, overall, were very weak and not bullish. However, the market managed to put in more gains despite these poor economic numbers. Read more

Posted by Joshua Hayes | Filed Under Free Commentary

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

Posted by Joshua Hayes | Filed Under Free Commentary

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

Posted by Joshua Hayes | Filed Under Free Commentary

Stocks Stage WILD Reversal, Keeping Traders As Confused As Ever.

January 3, 2007 | Leave a Comment

What a way to start off the New Year! Today, stocks showed us all why it is silly to have convictions. After gapping up very strong this morning on the back of some strong manufacturing data, stocks continued to rally. However, after the FOMC minutes were released, stocks did the exact opposite and reversed into negative territory. Thankfully, for the bulls, stocks found solid support at 3pm and rallied into the close, giving the DJIA and Nasdaq a positive close.

Posted by Joshua Hayes | Filed Under Free Commentary