All Major Indexes Hit 52-Week Highs On Higher Volume, After Early Morning Panic Selling; SP 500 Hits All-Time Record Close
May 31, 2007 | Leave a Comment
Before the market opened on Wednesday, there was a major selloff in China (6.5%) due to a rise in the trader’s tax. This selloff immediately gave way to panic. And I can assure you of that as I monitor a lot of chat rooms. Even in my own room one reader was asking if this was indeed the top. But as usual when panic selling happens early on, in a bull market, stocks found a bottom immediately and rallied higher all day long with all the indexes hitting 52-week highs, all-time highs (except the Nasdaq), and closing at the HOD. How can you be bearish or even want to short when a market acts like that? I am simply floored by the balls and pure stupidity on the part of bears who are shorting this market. It is stunning. Read more
Chinese stocks sent lower as government raises a trading tax
May 30, 2007 | Leave a Comment
Hello to all! During the mid-week, we will be posting market thoughts as well as excerpts from our chat room. Looking forward to those readers who sign up for the MauiTrader’s BigWave Trading service. If you read the weekend column you’ll notice his excellent returns and picks. If you have any questions about the service, please post comments or email me @ marketspeculator@gmail.com
The holiday shortened week saw investors bid stocks higher Friday May 25th only to see those gains continue yesterday. Price and volume, finally moved higher together yesterday as we continued to see a divergence when stocks pushed higher last week.
Stocks Start The Week Where They Left Off On Friday; China Turns Up The Pressure On Traders By Raising The Trading Tax
May 30, 2007 | Leave a Comment
Stocks picked up right where they left on Friday, with the indexes rallying across the board. The SP 600 led the way with a .9% gain, the Nasdaq followed with a .6% gain, the NYSE and SP 500 rose .2%, and the DJIA gained .1%. The IBD 100 gained .8%. Read more
Happy Memorial Day!!! Thank You and GOD Bless Our Troops Alive And Fallen!!!
May 28, 2007 | 1 Comment
Stocks ended the week on a light-volume positive note, after a pretty wild and semi-rough week that saw the Nasdaq come under two more days of distribution. However, the constant takeovers, M&A’s, and LBO, continues to keep a floor on this market and give short sellers the pain they deserve when they short a rising market (a play only amateurs and ego-driven traders make).
Despite the NAR existing-home sales reporting a drop of 2.6% in April to a four-year low, below estimates, stocks still managed a pre-holiday really. At the close, the Nasdaq, Nasdaq 100, and SP 600 led the way with .8% gains, the NYSE followed with a .7% rise, the SP 500 finished with a .6% gain, and the DJIA ended the day with a .5% gain. Leading stocks, via the IBD 85-85, did even better, gaining 1.5%. For the week, the SP 600 finished .7% higher, as the only index that made gains on the week. The rest of the indexes finished lower, with the Nassy 100 losing .8%, the SP 600 losing .7%, the SP 500 losing .5%, the DJIA losing .4%, the NYSE lost .2%, and the Nasdaq finished lower by .05%. So it wasn’t a great week, but by the losses it wasn’t a horrible week either. It just was what it was, which looks like a little bit of consolidation of all those recent gains. There really is nothing to takeaway from this week’s action.
The only one real obvious week spot Friday and for the week was in the Utilities sector. The top stocks that I was long in that sector (NU EE ETR AYE ITC) took some big hits, causing me to sell some down or out completely, and the DJUA fell 3.9%. The cause of this was due to the rising rates in the bond market. Many of these stocks look toppy, like PNW. The rising rates also put a kibosh on the possibility of a Fed Fund rate cut as the odds fell to less than 50% that rates would be cut this year.
Happy Memorial Day!!! Thank You and GOD Bless Our Troops Alive And Fallen!!!
May 28, 2007 | Leave a Comment
Stocks ended the week on a light-volume positive note, after a pretty wild and semi-rough week that saw the Nasdaq come under two more days of distribution. However, the constant takeovers, M&A’s, and LBO, continues to keep a floor on this market and give short sellers the pain they deserve when they short a rising market (a play only amateurs and ego-driven traders make). Read more
No Stock Market Commentary For Friday
May 25, 2007 | Leave a Comment
I don’t know what is up with me but I guess this market, surfing, and two hour workout at the gym the past four days have really wiped me out. Along with a spinal tap last week, I am sure these are the reasons why I can not muster up the mental strength to analyze this market. Read more
No Stock Market Commentary For Wednesday’s Market
May 24, 2007 | Leave a Comment
I am beyond burned out. I have updated my longs analysis and after a long day today I am just too tired to post commentary. I apologize. This market has me burned out. I don’t know how many times and different ways I can say “this market is in an uptrend, follow the trend, until it ends.”
It is just the same thing over and over. Until something changes, this commentary is not going to change. I just find it pointless to update commentary when NOTHING has changed. Read more
M&A Deals Keep The Market Moving As The NYSE and DJIA Hit All-Time Highs On Heavier Volume
May 23, 2007 | Leave a Comment
FRIDAY’S POST
It was another M&A filled rally on wall street as the news of mergers and buyouts keep on coming. The SP 600, Nassy, and the NYSE all gained .8%, the SP 500 was up .7%, and the DJIA rallied .6% hitting an all-time high with the NYSE. All indexes closed near their HOD. The best gain came from the IBD 100. The IBD 100 gained 1.2% today, well outpacing the broad market. It is always bullish when leading stocks lead. Read more
Small Caps And Nasdaq Lead For The Third Day In A Row; Why Are People Still Trying To Call A Top?
May 23, 2007 | Leave a Comment
Today was a good day, overall, for stocks, as the Nasdaq and SP 600 led the DJIA and NYSE. The SP 600 finished higher by .7%, the SP 400 was higher by .2%, and the Nasdaq was up .4%. This was clearly better than the SP 500 and DJIA which finished down .1%. Leading stocks did not lead this time but for the third session in a row they did outperform the DJIA and SP 500. The IBD 100 closed flat.
The big deal of the day came via the private equity group led by Kirk Kerkorian Tracinda Corp. They want to partially takeover some of MGM’s assets. This helped lift the mood of investors as the LBO game continues with a new deal everyday. This is a good time to be a bull. Read more
Nasdaq And Leading Stocks Take The Baton From The DJIA And The NYSE
May 22, 2007 | Leave a Comment
I went into pretty detailed analysis on my longs tonight and I had a long workout and surf session. So I am too tired to write commentary on this market.
All the other commentators are telling you how to be ready for a fall and that they can’t believe this market. Well, I don’t care what I need to believe in. All I care about is making money. The trend is up and the trend is very powerful. Keep going long those leading stocks breaking out of good bases or bouncing off key moving averages. Until the trend actually changes, there is no reason to talk yourself out of this bull market.
Choo, choo. All aboard the momentum train. When will it stop? Nobody knows. Just ride the train until it derails. Make sure you look at the new longs charts and read the analysis. Don’t just look at the chart or the stock symbol. Know why I am going long these stocks and why I want more of one than another.
