Stocks were weak to begin the day as pending home sales were weaker than expected. The weakness didn’t last very long as traders and investors were positioning themselves ahead of the Federal Reserve policy statement. By noon, stocks were at session highs, but it wasn’t until the market heard the news rates would be held down until the end of 2014. Regardless of what you think of the statement the market went higher and with volume to boot. While the market closed off the highs of the session the day overall was very bullish. During the after-hours session NFLX reported better-than-expected earnings as the stock jumped more than 15%. NFLX had a terrible time at the end of 2011, but... Read more »
AAPL Blows Away Earnings in After-Hour SessionAnother great day for the stock market as again buyers step up and support the market. The market did get help from the Richmond Federal Reserve Manufacturing index as it came in better than expected. However, the market turned its attention to AAPL’s quarterly earnings report. Volume came in lower perhaps due to the Federal Reserve meeting concluding on Wednesday, but it’s anyone’s guess. More importantly, it was AAPL’s blow out quarter taking center stage. This uptrend will continue tomorrow and for the moment it continues to be strong. There are a lot of people who are fighting this current trend and it is easily understood. Sure, we can have pullbacks, but to be calling for... Read more »
Volume falls ahead of the Federal Reserve’s two day meetingThe day began with a solid move off the lows and it was looking like the market was going to surrender to the bulls. After the 10 o’clock hour sellers hit the market sending stocks lower, but in a bullish fashion stocks were able to find support. Today’s move would have been better if the morning move did not occur. Perhaps it is a small blemish; we’ll take the pull back as the market consolidates its most recent run up. Our uptrend remains intact and it is without any major distribution or stalling a big positive for this uptrend to continue. There is some talk about the market being overbought and sure, it is. Given the move since the New Year began it is quite obvious we have a... Read more »
Big Wave Trading Portfolio UpdateBig Wave Trading is currently 100% long in our margin and IRA accounts. The Big Wave Trading market model went into a full buy signal on 1/5/2012 following a partial buy signal on 1/3/2012. Since the full buy signal, multiple stocks have set up and broken out of sound consolidation patterns. The one problem with this rally, however, is that we are not seeing any explosive gains right off the bat. Normally at the start of new uptrends, Big Wave Trading will have a handful of stocks up 20% in just a few days to a couple of weeks. This is not happening this time. This is in part due to the slow speed of this rally as we are only moving slightly higher each day, outside of 1/18/2012. Nobody knows... Read more »
Performance of Big Wave TradingA big thank you to bjesse a member of BWT for putting this together! It goes to show you the value BWT brings to the table! Take advantage of the value by signing up here. Performance Analysis 1-21-12 Performance of Big Wave Trading Read More →
Once again stocks were able to extend their gains from Monday’s trading session and push higher for the 7th consecutive day. Accumulation has stepped into the market, but on Thursday the vigor wasn’t up to par with Wednesday’s level. For much of the day stocks spent time around the unchanged levels. It appeared the NASDAQ was going to eek out small gains and the S&P 500 was going to finish lower in slower trade. However, the market had other ideas sending the market to new highs... Read more »
By Market Speculator Once again Crude Oil took a major blow Monday as well as other commodity prices. The IMF revised its growth causing panic in the World Recovery thesis. Technology stocks also took a tumble Monday as investors were fleeing technology names. Stocks were simply sold today as sellers wanted to cut loose at all costs. Closing at the lows of the day is a signal that sellers are in full control. Leadership has been showing weakness for the past two weaks and is finally beginning... Read more »
There is simply no better software that I use to scan the market than Telechart. This program allows me to consistently beat the market by using the proper price and volume tools that this program gives you for such a low price. It has not been named best software under $500 a year for almost 15 years in a row for no reason. This software comes with the proprietary indicators of TimeSegmentVolume, Balance Of Power, and Moneystream that you can not get in any other software package. Though I do not... Read more »