China’s Market Crashes Sending Shockwaves Throughout World Financial Markets; 215% Run In Twenty Months Is Not Sustainable
February 27, 2007 | Leave a Comment
Stocks were crushed, Tuesday, after a meltdown in Asian markets led by the Shanghai index closing lower by 8.8% and a weak durable goods number. The Shanghai index shed almost 9% offering up its worst selloff in over 10 years. This selloff in China, which has been the leading market index the past two years, spilled over to world financial markets and had a devastating effect on ours as well. That combined with durable goods coming in 7.8% lower and missing expectations of 2.2% sent our indexes lower with the worst one day loss in four years. Read more
A Blast From The Past Puts Pressure On Stocks; Normal Selling Hits The Averages
February 27, 2007 | Leave a Comment
Stocks gapped open at the morning, on the back of some great buyouts (the TXU is really not good; but that is a diff. subject). STN and TXU were both buyout targets this Monday. However, that good news was quickly absorbed and just as quickly forgotten about after the former Fed chairman Alan Greenspan weighed in with comments that the US economy “could” slip into recession by the end of the year. That was enough to stop the party. The good news, when the trading day was over, was that stocks, once again, climbed off the lows of the day and finished with respectable closes. A trend that has been well established for almost two weeks now.
At the close, the worst hit index was the Nasdaq, with a .4% decline; however, prices were down around .9% during the low. The SP 600 lost .3% and the DJIA and the SP 500 both lost only .1%. It was the fourth consecutive day of losses for both the DJIA and the SP 500. Leading stocks kept pace with the Nasdaq, with the IBD 100 losing .4%. But the fact that that index did not lead to the downside is a positive. Some stocks took some hits in the index but overall it was pretty tame profit taking.
Indexes All Finish In The Red But Still Finish Well Off The Lows; Leading, Tech, And Small-Cap Stocks Lead This Week
February 24, 2007 | 2 Comments
Stocks finally decided to take a break, across the board, as stocks meandered in the red all day, closing off the lows. However, a slight change of character was the fact that there was no last hour rally. That is probably due to most traders starting the weekend early as an exhaustive holiday shortened week comes to an end. There was no doubt that with no economic news of significance today that digesting this week’s gains was a good thing. Read more
Stock Indexes Rally Off The Lows, Once Again, But Close Mixed
February 23, 2007 | Leave a Comment
It was another wild session, with an intraday bullish bias, after a weak opening. Thanks to bad news out of Iran (did you expect anything else?) and crude oil rising 1.5% on news that inventories were smaller than expected, big caps suffered. However, some positive action in Semiconductor stocks and news that WFMI is buying OATS helped save the Nasdaq. A mixed day to a wild yet uneventful session best sums it up. Read more
Blue Chips Get Hit; Nasdaq Stages Another Bullish Intraday Reversal, Closing At Its HOD
February 22, 2007 | Leave a Comment
Stock indexes gapped lower this morning as CPI data came in higher than expected. The CPI rose .2% as core prices had their biggest jump since June. That along with Fed minutes showing that the Fed is still targeting inflation was enough to send all the indexes lower. However, showing just how strong this market is, stocks crawled off their lows of the day and the Nasdaq even closed at its HOD. Read more
Stocks Reverse Ugly First-Hour Selloff, As Leading & Small Cap Stocks Lead The Way; Bulls Are In Full Control
February 20, 2007 | Leave a Comment
Early losses soon turned into gains, after a long three-day weekend, as investors bid stocks up on the back of plenty of good news. News of a deal between SIRI and XMSR, VMC acquiring FRK, Oil dropping 2.2%, and positive comments from Fed gov. Susan Blies was just what the market wanted to hear, as stocks closed at all-time and multi-year highs. Read more
Stock Indexes Erase Early Morning Losses, Rallying Into The Close, Closing Near Their Highs Of The Day
February 17, 2007 | Leave a Comment
Stocks fought off morning weakness, caused by a revenue warning from MSFT, and rallied the rest of the day to close flat and near the highs of the day. This bit of news from MSFT particularly hit the Nassy the hardest as MSFT represents 6% of this index. The strength in the indexes in the face of the selling in MSFT shares can only be seen as impressive. Many traders expected much worse, considering that the news came on top of a report showing Housing starts falling 14%. Read more
Stocks Indexes Keep Rallying; New Buy Candidates Drying Up As Most Are Extended Beyond Proper Buy Points
February 16, 2007 | Leave a Comment
There was plenty of economic data for the market to feast upon, on Thursday. However, neither that or continued testimony by Ben was able to really move stocks one way or the other. Though industrial output fell by the largest amount in 17 months, stocks didn’t mind and were able to close higher across the board, for the third straight day. Read more
Stocks Indexes Keep Rallying; New Buy Candidates Drying Up As Most Are Extended Beyond Proper Buy Points
February 16, 2007 | Leave a Comment
coming now…
DJIA, DJTA, DJUA, NYSE, And SP-400 Hit All-Time Highs; The Giant Wall-Of-Worry Proves Easy To Climb, For Stocks
February 15, 2007 | Leave a Comment
Today stocks showed, ONCE AGAIN, why shorting a market that is in a long-term uptrend is an unprofitable and low reward/high risk proposition. All it took today was positive comments from Mr. Bernanke about the economy to ignite a very powerful rally that helped five key indexes hit all-time highs and another one hit six and a half year highs. In front of the Senate Banking Committee, Mr. Bernanke stated, “…the view that the current stance of policy is likely to foster sustainable economic growth and a gradual ebbing of core inflation.” Those words right there ignited the rally that we saw today. Read more
