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.
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.
Happy New Year!; Markets Produce A Distribution Day On The Last Trading Day Of 2006.
December 30, 2006 | Leave a Comment
Happy New Year!; Markets Produce A Distribution Day On The Last Trading Day Of 2006.
THIS IS THE VERY LAST FREE “DAILY MARKET ANALYSIS and NEW SWING LONGS/SHORTS” POST ON THIS BLOG.
On the very last trading day of the year, stocks decided to end the year on a slightly nasty note, offering distribution days across the board. There was no news catalyst on this Friday the last trading day of 2006. The only possible reason for the selling that was floating around the street was the fact that traders might not want to be long over the long weekend. My question is: wouldn’t they also not want to be short? Oh well.
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.
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.
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
Stocks Shake Off Early Morning Hit And Rally Off The FOMC; Nasdaq Suffers Third Distribution Day In Four Weeks.
December 12, 2006 | Leave a Comment
Stocks started the day pretty calm and soon gave way to some very rapid selling that dropped the indexes hard to their lows of the day; the Nasdaq fell as much as 1%. However, stocks found strong support on that selling and after the FOMC announcement stocks worked higher finishing well off the lows. Overall, a very impressive fight back from what looked to be like a really bad day in the making.
- 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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