Last Hour Selloff Dampens Effect Of The Strong Intraday Rally; Semiconductor Stocks And The SOX Index Go Flying
July 17, 2007 | Leave a Comment
Overall, it was another excellent day for stocks, as all indexes came off their intraday lows to power higher until a last hour whipping. However, the Nasdaq barely gave back any of its gains and the SOX index put in an incredible day. The SOX index getting a huge lift today has to, at least you would think, start to make the bears think that this rally is for real. Because, everyone knows that everyone only LOVES a bull market if tech is running. And last time I checked, tech is moving baby.
At the end of the day the SOX gained 2.95% hitting its highest level since March 2006. Some of the stocks that helped the index power higher were LRCX, VSEA, KLAC, BRKS, AMAT, and ASML. Overall the Electronics group has been on fire. The Elec-Semi Equipment has moved from 76 to 57 since Friday and the Elec-Military Systems has moved from 81 to 50 the past three months. The Electronic-Component/Connector group is number 37 from 157 three months ago. So obviously the moves in the stocks and industry groups show that the sector everyone loves to see rallying is in fact helping to lead us higher.
However, INTC reported after hours and subsequently sold off 4%. But this started to get the traders talking about a top and a reversal in the semi stocks. This kind of “fear” after a miss by INTC is the reason why stocks keep rallying. If people would have been saying “it is down 4%, what a great buying opportunity.” Then I would say we need to worry. But the fact that the chat rooms were going off with people wanting to short INTC and calling a top to semi stocks is the reason why I doubt the move in these stocks are done. If you look at stocks like HOKU, SIGM, TRT, AMSC, SMTX, MVIS, NVDA, and HURC, you will see that they are no where near climax tops. These are the leading stocks since the July lows in the SOX index.
DJIA Holds Up While The Rest Of The Market Takes A Breather; M&A Activity Just Doesn’t Stop
July 17, 2007 | Leave a Comment
No stock market commentary for today. Commentary will resume tomorrow.
2007.07.17 06:40:21] MauiTrader: normally i dont have commentary ready unitl 9pm my time
[2007.07.17 06:40:28] MauiTrader: by 10pm i am sleepy
[2007.07.17 06:40:34] MauiTrader: so if i dont get it done during that hour
[2007.07.17 06:40:36] MauiTrader: i am screwed
[2007.07.17 06:40:46] MauiTrader: and we were watching tv before that
[2007.07.17 06:40:49] MauiTrader: and then i fell asleep
[2007.07.17 06:43:46] MauiTrader: so here is the talking points from my commentary Read more
Leading Stocks Help Take Indexes To All-Time And Six Year Highs; The Bears Who Continue To Fight This Trend Get What They Deserve
July 14, 2007 | Leave a Comment
For the second week in a row, stocks put in one impressive week of gains, with today’s gains coming in some small part to the University of Michigan consumer confidence index coming in at 92.4 above estimates of 86. However, that simply was not the reason for today’s gains, as another round after afternoon short squeezing hit the indexes sending them near the highs of the session with the Nasdaq closing just short of its HOD. The gains also came in the face of oil rising $1.43 to $73.93. Read more
Leading Stocks Help Take Indexes To All-Time And Six Year Highs; The Bears Who Continue To Fight This Trend Get What They Deserve
July 14, 2007 | Leave a Comment
For the second week in a row, stocks put in one impressive week of gains, with today’s gains coming in some small part to the University of Michigan consumer confidence index coming in at 92.4 above estimates of 86. However, that simply was not the reason for today’s gains, as another round after afternoon short squeezing hit the indexes sending them near the highs of the session with the Nasdaq closing just short of its HOD. The gains also came in the face of oil rising $1.43 to $73.93.
At the close, the DJIA, SP 500, and SP 600 all hit new all-time highs rallying .3% and the NYSE and Nasdaq gained .2%. The NYSE hit another all-time high and the Nasdaq hit a new 6 1/2 year high. The best part about today’s gains, of course, comes in the fact that leading stocks led the way, once again. The IBD 100 gained .7%, doing much better than the broad market. Read more
A Powerful Rally On Heavier Volume Sends Indexes To All-Time and Six-Year Highs; The Bears Are Morons And This Proves It
July 13, 2007 | Leave a Comment
It was an excellent day for the bulls today as it, once again, pays to be on the right side of the market. The Nasdaq soared to 6 1/2 year highs and the NYSE hit new all-time highs. For those who have been long stocks since the lows in March, this week has been a great week. Today’s gains in the indexes only proves that the trend is your friend and that the smart play in bull markets are to buy the best stocks and to stay long those stocks as long as the indexes are going up.
There simply is not much else you can say to the bears now that has not been said over and over. The arguments that those in the Doug Kass camp have made seriously sound more and more like rantings of seriously disturbed mental incompetents. The arguments that they make continue to “sound” smart, but they simply have no substance. Those “morons” that simply followed the trend of the market and went long stocks are being rewarded soundly this week. Read more
Selloff In Big-Cap Stocks Escapes The Leading Stocks
July 11, 2007 | Leave a Comment
Even though it was a pretty bad day out there, with the SP 600 leading the way lower by 1.8%, my portfolio and leading stocks held up well.
I only had two large holdings act up (MTOX and AMSF) and both of them are still holding well above key support. And on top of that I had only two blowups out of the many small stock holding I have (RPB and TRR). And as subscribers on the gold level know, I was already out of half of my TRR position. This action clearly tells me that the pullback was more of a problem with big-caps and financial stocks and not with leading stocks. Read more
Short-Busting Rally Continues; Continue To Follow The Trend
July 10, 2007 | Leave a Comment
In all seriousness, I am not sure what I can add today that was not summed up ever so well by me this weekend. The one obvious thing that I can add is to let you know that it is clear that leading stocks are in complete control in this market environment.
My personal account recorded a 7.8% gain today, well outpacing the general market. This is the widest margin of outperformance in my portfolio over the market in months and possibly over a year. The DJIA was the top index today with a .3% gain and the IBD 85-85 gained .5%, to just show you the difference in gains. This is what happens when you are in top stocks in a raging bull market. Even with a low VIX, when leading stocks are moving, they will outperform the market. Read more
Fourth Of July Holiday-Shortened Week Goes Out With A Bang; Shorts Continue To Feel The Squeezing Pain Of The Bulls
July 8, 2007 | Leave a Comment
A positive employment report, positive revisions to past reports along with the unemployment rate holding steady at 4.5%, and acquisition news that EYE raised the offer from a previous company to buy BOL for $75 a share helped stock indexes rise steadily higher all day long in a nice stair step fashion. By the closing bell, all indexes ended in the green, with big-cap tech leading. All of this came despite another increase in oil to $72.81 a barrel-highest close since September. This market continues to move higher despite the highs in oil, confirming that this is the greatest market story never told. (this refers to the severely biased media that REFUSES to acknowledge how INCREDIBLE this rally from October 2002 is). Read more
Fourth Of July Holiday-Shortened Week Goes Out With A Bang; Shorts Continue To Feel The Squeezing Pain Of The Bulls
July 8, 2007 | Leave a Comment
A positive employment report, positive revisions to past reports along with the unemployment rate holding steady at 4.5%, and acquisition news that EYE raised the offer from a previous company to buy BOL for $75 a share helped stock indexes rise steadily higher all day long in a nice stair step fashion. By the closing bell, all indexes ended in the green, with big-cap tech leading. All of this came despite another increase in oil to $72.81 a barrel-highest close since September. This market continues to move higher despite the highs in oil, confirming that this is the greatest market story never told. (this refers to the severely biased media that REFUSES to acknowledge how INCREDIBLE this rally from October 2002 is).
The NYSE led the way, closing at an all-time high, with a .5% gain and the Nasdaq and Nasdaq 100 gained .4%, hitting 6 1/2 year highs. The DJIA and SP 500 closed slightly higher with a .3% gain and the SP 600 gain was even smaller with a .1% gain. The great news, once again, was that leading stocks trumped the general market indexes, with a 1.2% gain. This is the picture perfect action that you want to see in a bull market. When leading stocks are leading the general indexes, there are much larger gains being made in top growth stocks than value stocks. Read more
Shorts Keep Getting Squeezed; Big Caps, Semiconductors, And Leading Stocks Work Their Magic
July 5, 2007 | Leave a Comment
Stocks countered an overnight selloff in Asia by producing some solid gains off the mid day lows. At the closing bell, the Nasdaq led the way with a .4% gain, closing near the HOD. The IBD 100 led the market with a .7% gain and the SOX (Semi Index) and Nasdaq 100 were up .8%, showing that big-cap tech and leading stocks are where the momentum is at.
Volume was higher than the half-day levels but was lower than the last full day of trading on Monday. So today’s gains were not that impressive, other than we still got more gains. But it never pays to be short a dull holiday shortened week. Despite the gains, breadth was negative on both the NYSE and the Nasdaq. It was 9-to-7 negative on the NYSE and 8-to-7 negative on the Nasdaq. Read more
