M&A Deals Keep The Market Moving As The NYSE and DJIA Hit All-Time Highs On Heavier Volume
May 20, 2007 | Leave a Comment
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.
Nothing Changed The Current Outlook I Have On The Market, After Today’s Trading
May 18, 2007 | Leave a Comment
Despite the small losses today, the biggest negative I see is that breadth was weak all day and closed near 3-to-2 negative on the NYSE and 8-to-5 negative on the Nasdaq. This continues the recent theme of weakness with the internals despite gains in the indexes.
Stocks Rally Across The Board On Lower Volume; This Is Why You Don’t Short Markets Until The Trend Is DOWN
May 16, 2007 | Leave a Comment
I was very happy with the markets performance today, considering the selling that took place yesterday. It did disappoint that volume was lower than yesterday but the fact that the market closed higher on the nasdaq compared to where it opened yesterday, is a positive that I will definitely run with.
There Was No Commentary For Tueaday’s Trading As I Came Down With A Massive Headache Last Night.
May 16, 2007 | Leave a Comment
I hope this doesn’t happen today! Aloha and I hope I am back to normal.
There Will Be No Commentary For Monday’s Trading
May 14, 2007 | Leave a Comment
I had a spinal tap today and will not be able to post commentary. Thank you for understanding. I should be back to normal, tomorrow.
Aloha and see you in the chat room!
Stocks End The Week On A Bullish Note, Despite The Lower Volume; You Can’t Keep The Bulls Down
May 13, 2007 | Leave a Comment
Stocks gapped higher on the back of economic data that was taken as more positive than negative and on some more M&A talk. The Labor Department said the wholesale PPI came in with a .7% increase in April. This was in line with estimates and showed that growth in prices at the producer level were flat except gas. Gas cost rose 8.2%. Read more
Stocks End The Week On A Bullish Note, Despite The Lower Volume; You Can’t Keep The Bulls Down
May 13, 2007 | Leave a Comment
Stocks gapped higher on the back of economic data that was taken as more positive than negative and on some more M&A talk. The Labor Department said the wholesale PPI came in with a .7% increase in April. This was in line with estimates and showed that growth in prices at the producer level were flat except gas. Gas cost rose 8.2%. Read more
Nasdaq Suffers A Distribution Day As Markets Close Lower Across The Board
May 11, 2007 | Leave a Comment
Stocks started the day off weak on the back of some really poor retail same-store sales reports and couldn’t find any footing the rest of the day, as stocks slid lower all day long.
With no major M&A deals today and with earnings winding down, stocks are now reacting to economic data again. Same-store sales for WMT in April fell 3.5% from March. This was the worst monthly drop in 28 years. To top that off ANF AEO and GPS all reported same-store sales declines of 10% or more. This was clearly bad news for stocks. Take that with WFMI being the big earnings loser, losing 10%, and you have a bad day for stocks that saw today’s one day selloff wipe out a weeks worth of gains. Read more
Early Morning Selling Gives Way To More Dip-Buying; Stocks Finish Higher On Higher Volume, After FOMC Meeting
May 10, 2007 | Leave a Comment
Stock started off on the wrong foot, for the second day in-a-row, thanks to some weak guidance out of CSCO. The weak guidance weighed on the Nasdaq especially as CSCO fell 6% before the opening bell. This carried more weight than the 1.6% gain overnight in the Shanghai index.
However, stocks did not stay down long. It could have been all the strong earnings reports from FWLT RIMM SNHY and PCR that got the market excited, but whatever it was the fact that the dip buyers showed up again was all the market needed to rally. The bullish reversal did run into a rough spot around 215pm EST when the Fed announced their decision on interest rates. Read more
The DJIA Comes Ever So Close To Setting An All-Time Record But Falls Short; Stocks Rally Off The Lows On More M&A Deals
May 9, 2007 | Leave a Comment
Stocks started the morning off on the wrong foot after a very negative NAR report on home sales hit the market. Existing-home sales are expected to fall 3% and new-home sales are expected to fall 18% this year, according to NAR. This weighed on stocks early on.
However, dip buyers and sideline money went to work quickly after the first hour selling, as merger and acquisitions and rumors helped stocks continue to rally. RTRSY confirmed talks with TOC for a merger for $17.4 billion and FIG acquired FLA for $3.5 billion. Rumors that MT wants to buy AKS for $4.5 billion also made the rounds today. This helped stocks rally all day long after the gap lower and subsequent early morning selling. However, by the close, stocks could not quite finish green across the board and the possible all-time record of the DJIA for positive closes in 25 out of 28 sessions was missed by a mere 4 points. Read more
