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.
Markets Feel The Post-Christmas Joy And Rally; Volume Was Much Lower Than Friday.
December 26, 2006 | 3 Comments
It was up, up, and away for stocks on Tuesday, as the market opened higher and did not look back all day, steadily making advances until the closing bell. The only news out there was holiday retail sales and that bit of bad news did nothing to stop stocks; it just stopped retail and you really can’t call that much by looking at the RLX.
MERRY CHRISTMAS EVERYONE! ! ! ! ! ! ! !
December 22, 2006 | Leave a Comment
On the last trading day before Christmas, stocks continued their recent trend of flat to positive opens that eventually lead to a consistent downtrend until the close. For the fifth day in a row on the Nasdaq and for the fourth out of five days on the SP 500, stocks fell on lower volume. The pullback, today, was blamed on the durable good numbers minus transports falling 1.1%. Talk about cherry-picking your data. Sheesh.
Low Volume Pullback Is All I Want For Christmas.
December 21, 2006 | Leave a Comment
It was another day of a strong opening turning into an ugly close. For the fourth day out of the last five days, markets opened strong or at least positive to reverse and trend lower for the rest of the day. The data point that was blamed was the Philly Fed manufacturing index. It came in below estimates and was the lowest reading since April 2003.
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
Quadruple Witching Turns Out To Be Quadruple Boring.
December 15, 2006 | Leave a Comment
Stocks closed the week up for the third straight session, with the help of a kind inflation data. The CPI came in unchanged from a month ago and that helped lift stocks higher. But after stocks hit their highs of the day around 11am EST, they basically drifted lower for the rest of the session closing with small gains.
The SP-500 Makes Another Six-Year High; Bears Still Don’t Get It.
December 14, 2006 | Leave a Comment
Stocks gained ground off of crude oil rising 2%, drifting with an upward bias on the DJ and downward bias to a green close. The gains in the face of bad news was a clear sign of just how strong this market STILL is.
Early Morning Fireworks Soon Give Way To A Dull Driftless Day Of Trading.
December 13, 2006 | Leave a Comment
A gap open in the morning, thanks to some Airline merger news and strong retail sales, soon gave way to some quick selling that took the indexes slightly to the red. After those early morning lows stocks danced around the flat-line area until the final hour when they caught a small bid and managed to close green.
