CROX Helps Stock Indexes Gap Lower As They Continue To Selloff To The LOD at the EOD On Higher Volume
November 1, 2007 | Leave a Comment
Stocks gapped lower thanks to a negative sentiment off the CROX swoon and the expectations that the Fed had no reason to cut rates anymore. This seemed to weigh on the market and many stocks took very large hits. The worst was that the market according to my charting software sold off on higher volume marking a distribution day for the Nasdaq and the NYSE, SP 500.
Possible Stagflation?; Stocks Lose Ground On Higher Volume, Giving The Market Its Second Distribution Day
April 12, 2007 | Leave a Comment
Stocks started the day weak on the back of data from the NAR announcing that they expected existing home sales to fall in 2007-the first drop in 38 yrs-and also see lower existing and new home sales in the short term. That combined with higher gas prices weighed on stocks early. But once again the dip buyers showed up and started to bid stocks higher. That was until the Fed March meeting minutes came out at 2pm. That promptly sent stocks to new lows on the day before they received a minor bid into the close. Read more
Stocks Rally Again And Close Near Their HOD, On Stronger Volume; Volume Well Below The 50 Day Volume Average
April 11, 2007 | Leave a Comment
Stocks performed the same way as they have been recently, with the markets gapping up, selling off, and then finding dip-buyers to help bring them off their lows and sending them near their highs by the close. All of this happened despite a very healthy amount of bad news from the housing and mortgage industry. Almost half of my links that I received today involved stories about the housing and lending markets. However, stocks digested the data and did what they have been doing recently rallying the rest of the day. Read more
Traders Take An Extra Day Off; Stocks Dance Around And Close Basically Flat, On Slightly Higher Volume.
April 10, 2007 | Leave a Comment
Stock investors returned from a long three-day Easter weekend to a very inactive market. Even though trading was pretty wild, choppy and volatile today, the market still traded in a very narrow range and basically did not move from Thursday’s close. Read more
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
Stocks Finally Provide The Confirmation To The March 21st Follow-Through; Nasdaq Leads Market Higher, On Higher Volume
April 3, 2007 | Leave a Comment
Possible good news out of Iran over the release of the 15 hostages, oil prices falling 2% to $64.64 as the result of the possible release, positive foreign market gains in Europe and Asia, and positive news from the housing market was just what the market needed, as stocks gapped higher, held the gains, and rallied into the close to close near their HOD. Read more
Stressed Out And Tired; Stocks End The Week With A Boring Session, Leaving The Indexes Mixed And Flat
April 1, 2007 | Leave a Comment
Another wild-yet-boring intraday session came to an end, with stocks going nowhere. The lack of action today is a bit of a surprise, considering all the news items we had to digest. First, we got off to a positive start and continued higher early on, on the back of a bunch of macro news. The core personal consumption index rose .3% in Feb (biggest jump since August) and personal income and spending rose .6%, contributing to the fact that core inflation is now at 2.4% which is outside the Fed comfort zone of 1%-2%. This data should make it clear that the Fed will not be cutting interest rates anytime soon.
Stressed Out And Tired; Stocks End The Week With A Boring Session, Leaving The Indexes Mixed And Flat
April 1, 2007 | Leave a Comment
Another wild-yet-boring intraday session came to an end, with stocks going nowhere. The lack of action today is a bit of a surprise, considering all the news items we had to digest. First, we got off to a positive start and continued higher early on, on the back of a bunch of macro news. The core personal consumption index rose .3% in Feb (biggest jump since August) and personal income and spending rose .6%, contributing to the fact that core inflation is now at 2.4% which is outside the Fed comfort zone of 1%-2%. This data should make it clear that the Fed will not be cutting interest rates anytime soon. Read more
Bullish Intraday Reversal, Helps Stocks Avoid Another Possible Ugly Day; Stock Indexes Close Higher On Lower Volume
March 29, 2007 | Leave a Comment
A bullish Q4 GDP final revision higher to 2.5% from 2.2%, along with jobless claims falling for the fourth week in a row, helped start stocks off on a very bullish foot before the opening bell. But soon after the opening bell, stocks trended lower all day until a strong late afternoon rally sent stocks up into the closing bell with the SP 500 even closing near its HOD. This reversal in the face of rising oil to six-month highs of over $66 a barrel and gasoline future to eight month highs at $2.1355, due to the tension between Iran and the free-world, has to be considered very impressive. Read more
Stock Indexes Close Lower On Higher Volume, Producing The First Distribution Day Since The Follow-Through On Wednesday; Is This Rally Done Already?
March 29, 2007 | Leave a Comment
Stocks turned tail Wednesday and for the second day in a row dip-buyers did not show up as stocks moved lower, with an intraday roller-coaster ride mid-day after a speech by Ben to a Congressional panel, closing near the lows of the day. Things got off to a bad start, after the February durable good came out below expectations of a 3.5% gain with an actual 2.5% gain. That might have been bad but the ex-transportation numbers hitting YOY growth lows not seen since 2003 and capital goods coming in 1.2% lower and at lows not seen since 2004 were probably what really gave traders a scare. On top of that, add oil hitting six-month highs of $68 after-hours and settling in at $64.08 after weekly inventories were announced falling by 900k, comments by Ben that inflation is still a worry, and the tensions between Britain and Iran over the naval incident and you have plenty of reasons for stocks to go lower; and lower they went. Read more
- One Stock I Am Adding To My Existing CANSLIM Long Positions For Friday’s Stock Market Session
- One New Short Position For Friday’s Stock Market Session
- One New Speculative Long Position I Am Adding To My Current Position For Thursday’s Stock Maret Session
- No New Short Positions For Thursday’s Stock Market Session
- One New Short Position For Wednesday’s Stock Market Session
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