Stocks Finish Green Across The Board, As The Fed Begins Its Two-Day FOMC Meeting; Crude Oil Jumps 5.5%.
January 30, 2007 | Leave a Comment
As is usual on a day where the Fed meets to decide interest rates, stock pretty much did nothing. However, the overall trend of the market is up and stocks followed the path of least resistance, closing green across the board. Even a gigantic jump in oil could not stop the market from throwing up positive gains.
At the closing bell, the SP 600 rose .7%, the SP 500 rallied .6%, the Nasdaq gained .3%, and the DJIA closed higher by .25%. Read more
Stocks End The Day Mixed But Flat From Friday, After A Wild And Volatile Session.
January 29, 2007 | Leave a Comment
Stocks ended mixed, after a wild day of trading, as traders positioned themselves ahead of the Fed meeting. To me, it just showed that the bulls and bears are both being very stubborn here and are evenly matched.
At the close, the SP 600 was up .4%, the Nassy finished up .2%, the DJIA ticked higher by .03%, and the SP 500 diverged closing with a .1% loss. The IBD 100 finished up .4%, keeping pace with the SP 600.
Volume was lower on the Nasdaq and higher on the NYSE. The higher volume on the NYSE does not make today a distribution day because the index was not down .2%.
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Stocks End Mixed On Lower Volume, As A Big Merger Rumor Helps Lift Stocks Off Their Lows.
January 27, 2007 | Leave a Comment
Stocks started the day off very strong but soon started selling off, after strong durable goods orders, strong new-home sales, and bond yields ticking higher sent signals to traders that the Fed would not be cutting rates any time soon. Thankfully, a rumor of Bank of America and Countrywide Financial merging and more positive earnings helped lift stocks well off their lows. Read more
Today Was The Exact Opposite Of Yesterday, As The Market Stages One Ugly Reversal; Mixed Volume Leaves Things A Bit Ambiguous.
January 26, 2007 | Leave a Comment
After such a nice day yesterday, where the Nasdaq bounces right off its 50 dma, the last thing you want to see is an immediate reversal; well that is what we got. Stocks almost gave back all of yesterdays gains in the Nasdaq and gave all of the gains back in the SP 500 and DJIA on a report on existing-home sales. This along with a weak response to the 5-year note auction helped slam stocks. 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
Small Caps Lead But Nasdaq Almost Completes A Nasty Round Trip.
January 23, 2007 | Leave a Comment
Stocks were looking very strong today until an afternoon selloff wiped away almost all of the gains. The sell-off started after news that President Bush stated that he would try to double the Strategic Petroleum Reserve as a hedge to supply disruptions. I interpret this to mean that a conflict with Iran will mean a disruption in supply. However, by the close all indexes escaped with positive closes. 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
Afternoon Rally Gives Stocks Support, Off Of Yesterday’s Selloff; Nasdaq Holds Its 50 DMA, SP 600 Regains Key Line.
January 20, 2007 | Leave a Comment
Stocks were able to find some support, yesterday, after a nasty selloff on Thursday did some damage to stocks. IBM started the day off wrong when its stock gapped down over 3.5% and put pressure on the indexes. However, a late afternoon rally, for no apparent reason, helped lift the SP 500 and Nasdaq to a positive close. Read more
Big-Cap Tech Selloff Hits Nasdaq With Another Large Distribution Day; Pharmaceuticals And Drugs Hold-Up DJIA.
January 19, 2007 | Leave a Comment
Stocks on the Nasdaq simply got nailed today, as a weak outlook by AAPL followed by two downgrades hit the stock with a 6% loss. This along with a weak profit outlook from LRCX with a downgrade simply was too much for the small-cap and tech indexes to handle.
At the close, the Nasdaq fell 1.5%, the SP 600 lost 1.1% and closed below its 50 dma, the SP 500 fell .3%, and the DJIA held like the champ it has been with a minimal .07% loss. Read more
Nasdaq Suffers A Distribution Day, As Stocks Fall Across The Board; Big Caps Hold Ground.
January 18, 2007 | Leave a Comment
Stocks suffered a rough day, on Wednesday, as INTC’s pricing battle against AMD weighed heavily on the Nasdaq, with INTC selling off. A weak Fed beige book report and a stronger than expected PPI, more than likely, did not help either.
At the close, the Nasdaq led the way on the downside, falling .75%, the SP 600 and the SP 500 fell .1%, and the DJIA fell .05%. Today, unlike yesterday, the IBD 100 and leading stocks led to the downside, falling .8%. The IBD 85-85 fell .6%. Read more
