Stocks Finish Higher Across The Board But Suffer A Late-Day Selloff; Lower Volume Shows Institutions Are Not Interested
March 9, 2007 | Leave a Comment
My girlfriends parents arrived on Maui, today, so I spent all day with the family. Therefore, I was not around at all after the closing bell.
However, I have reviewed my charts and can honestly say that nothing has changed. The gap up this morning and steady drift all day gave way to a selloff sometime after 2pm EST. That was a pretty nasty selloff and that has now happened for the third day in a row. Combine that with the lower volume and you have another technical negative. This bounce should see some volume if it is going to have any staying power. Read more
Stocks Stage An Impressive Reversal Off The Morning Lows; Stock Indexes Close Red, Across The Board
March 2, 2007 | Leave a Comment
Stocks started off the day with a nasty replay of the action on Tuesday. However, stocks found support shortly after and managed to rally to a respectable close, helping rescue trapped longs. Early weakness caused by a selloff in Asian and European markets (China down 2.8%) and inflation worries quickly sent stocks for a loop. The core personal consumption price expenditure index rose .3%, giving it a year over year increase of 2.3%. That is ahead of the Fed’s target 1-2%. But shortly after that nasty gap down, the ISM manufacturing index came in with a 52.3 reading, above the neutral 50 level. This and a heavy round of short-covering sent the indexes higher and even sent them into the green. But in the final hour, sellers reasserted control, ending the hopeful wishes of a green close by the bulls. Read more
Stocks Reverse Ugly First-Hour Selloff, As Leading & Small Cap Stocks Lead The Way; Bulls Are In Full Control
February 20, 2007 | Leave a Comment
Early losses soon turned into gains, after a long three-day weekend, as investors bid stocks up on the back of plenty of good news. News of a deal between SIRI and XMSR, VMC acquiring FRK, Oil dropping 2.2%, and positive comments from Fed gov. Susan Blies was just what the market wanted to hear, as stocks closed at all-time and multi-year highs. 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
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
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
Stocks End Slightly Lower As Wall Street Looks To Be Starting Christmas Early.
December 20, 2006 | Leave a Comment
Stocks started the morning pretty flat, then accelerated after the opening, but soon turned tail and trended down for the rest of the day. There were no news catalyst for the reversal but the fact is that stocks did reverse.
- No New Short Positions For Monday’s Stock Market Session
- No New Long Positions For Monday’s Stock Market Session
- No New Long Positions For Friday’s Stock Market Session
- One New Short Position For Friday’s Stock Market Session
- No New Short Positions For Thursday’s Stock Market Session
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