The Trend of Intraday Reversals Continue
October 29, 2010 | Comments Off
Morning selling gives way to afternoon buying
Better than expected jobless claim figures helped push stocks higher at the open. Volume jumped at the open as investors cheered, but the happy times did not last for much longer. Sellers took to the market pushing stocks into negative territory. This week has seen its share of pullbacks during the morning hours and Thursday was not an exception. Stocks appeared to look ahead to tomorrow’s release of the third quarter GDP or perhaps the market was nervous heading into Microsoft’s (MSFT) earnings report after the market close. But, that didn’t stop the market from finding buyers to step up and push stocks well off their lows.
Stocks End Mixed but with Positive Underlying Strength
October 29, 2010 | Comments Off
Stocks find support at the days lows and move to close off the highs of the day
Technology heavy NASDAQ leads the market off the lows as a major intraday reversal puts a positive spin on the day. As of late mid-day trading has been challenging for the market. Even as the final two hours worth of trading closed in the market didn’t appear to be any buyers left to support the market. Durable goods orders didn’t help the market nor did new home sales released earlier in the day. However, the last two hours buyers began to show up as a few market leaders reversed and moved higher on the day. By the close the NASDAQ, our leading index closed in the green as volume increased over Tuesday. We had another positive day for our market leaders and the current uptrend.
Buyers Erase Early Losses as Volume Ends Mixed
October 27, 2010 | Comments Off
Market Leaders continue strength
Early selling pressure quickly dissipated as buyers stepped up to push stocks well off their lows of the session to close positive. Better than expected Consumer Confidence and Richmond Fed Manufacturing Index figures fueled buyers just after the 10am hour. Volume ran mixed all day long with the NASDAQ volume running higher while the NYSE fell behind Monday’s pace. All the major indexes were able to close in positive territory, but the close lacked the buying surge we would have loved to see. Regardless, the move off the lows and with a few market leaders pushing higher the day was a positive one.
Late Day Selling Throws a Dent in Day’s Gains
October 26, 2010 | Comments Off
Good housing data fails to spark buyers, but stocks end in the green.
An unfortunate reversal at the end of the day leaves a sour taste in the mouths of traders. A better than expected existing home sales figures did give a temporary boost to prices, but it quickly faded as the market began its mid-day weakness. Volume ran higher on the NYSE all day long, but it wasn’t until the afternoon until the NASDAQ’s volume began to outpace Friday’s levels. The last thirty minutes of the trading session saw sellers dominate trading. Many leading stocks held up nicely, but a few did follow the general market. We did not see any major reversals from leading stocks as many remain very healthy. Not a great day, but our uptrend remains.
Stocks Get Late Day Rebound to Close in Positive Territory
October 22, 2010 | Comments Off
Traders get whipsawed as stocks digest earnings reports
A roller coaster day for the market as stocks finish in the green, but coming back after sellers took to the market. The NASDAQ hit a wall just after eleven am today falling to its lows by two o’clock. Today’s roll over was not pretty during the intraday, but the late day surge did help ease the pain. The market over the past few trading sessions has been quite unstable especially after AAPL and IBM earnings. We did however avoid a day of distribution, but the resistance we’ve been up against appears to have a strong hold on the market.
Stocks Rebound from Tuesday’s Losses
October 21, 2010 | Comments Off
Late day selling ends stocks off the highs as volume slows
Late day selling put a cap on the day’s excitement as stocks rebound from Tuesday’s heavy distribution day. All eyes would point to the Federal Reserve’s release of its beige book at 2pm EST. Prior to the release the market was able to build upon its gains as it moved higher. Volume simply couldn’t keep up with Tuesday’s pace ending lower across the board. The end of the day selling certainly did not inspire confidence, but a few after-hours earnings reports helped soothe any pain. A nice recovery, but we’ll need to see the market flash more accumulation.
Heavy Volume Selling Sweeps Through the Market
October 20, 2010 | Comments Off
The market suffers a major distribution day
Technology earnings and banks sent stocks lower throwing up a day of distribution for the entire market. It has been a long time coming for a day like today where distribution of the heavy kind overwhelms the market. A few weeks ago we saw cloud computing stocks take a tumble, but the market held up. Today the market wasn’t as lucky as major indexes sold off in heavy volume as traders fled for the sidelines as fast as they could. There were a few bright spots, but the market was begging for a pullback and we finally got one. Our uptrend remains in place, we may be a bit bruised, but the market remains in its uptrend.
The Market Ends Higher in Anticipation of Earnings
October 18, 2010 | Comments Off
After-hours trading shows earnings disappointment, but the market still is in a healthy uptrend
Earnings were the main story today aside from further talk about Quantitative Easing and the Foreclosure crisis. Citigroup (C) lead off the string of earnings as the market cheered its earning release sending the stock as well as other financial stocks higher. The real story was to be told after the market close with International Business Machines (IBM) and Apple Computer (AAPL). Stocks were pretty quiet throughout the trading day with cloud computing stocks lower and financial stocks higher. Although, the last two hours of trading stocks rose in anticipation of earnings and closed just off the highs of the session.
Top Current Holdings With Total Returns And Date Of Purchase
October 16, 2010 | Comments Off
Long 56 stocks 98-100% invested on full margin. All longs listed were posted on the website before being purchased for subscribers of the silver, gold, and platinum packages under the ‘new longs’ section.
stock symbol – total return – date of purchase
JKS 138% 7/13
LCUT 126% 11/2/09
LGL 101% 9/8
RES 60% 7/13
JOBS 56% 8/16
MIPS 51% 8/20
ISLN 36% 8/31
ASYS 34% 9/1
CHTP 29% 9/3
SOL 27% 9/14
IVN 26% 9/14
NSU 24% 8/20
XXIA 22% 8/31
SPRD 22% 8/27
CGNX 18% 9/24
UFPT 18% 9/15
Bank and Education Stocks Weigh on Stocks
October 15, 2010 | Comments Off
The market side steps a distribution day consolidating recent gains.
New banking fears helped push stocks lower, but a late afternoon buying spree lifted stocks off the lows of the session. Today’s consolidation was not out of the ordinary considering the move in equity prices, but the late day buying did help ease any worry. Education stocks once again were hit hard after APOL had some tough news for the market to digest. Banks and education stocks were the leading cause of the equity decline today even as volume came in lower across the board. The market was able to avoid distribution with volume sliding lower on the day. A great day of consolidation for the market showing this uptrend is quite healthy.
