Traders Take An Extra Day Off; Stocks Dance Around And Close Basically Flat, On Slightly Higher Volume.
April 10, 2007 | Leave a Comment
Stock investors returned from a long three-day Easter weekend to a very inactive market. Even though trading was pretty wild, choppy and volatile today, the market still traded in a very narrow range and basically did not move from Thursday’s close. Read more
Stocks Close Slightly Higher, Ending A Week Of Low Volume Gains; Beautiful Charts Still Do Not Exist
March 10, 2007 | 2 Comments
Stocks gapped higher off a mixed jobs report. Total jobs for the month came in at the lowest level in two years but the unemployment data dipped to 4.5% from 4.6% and last months numbers were revised up continuing a recent pattern, possibly giving market players a bit of buying power. The gap higher then led to an immediate selloff, followed by a weak rally, that led to even more lows. However, at the end stocks actually caught a late bid, helping them close off the lows. A pattern that did not exist the rest of the week. The prevailing pattern, before Friday’s close was to rally until the final hour then either selloff or flatline. This is bearish action and combining that with the low volume rally puts and end to a dead-cat bounce week. Read more
Bottom Guessers Continue To Lose Money As Stocks Continue To Selloff; Charts Are Getting Very UGLY UGLY UGLY (Not A Normal Pullback)
March 5, 2007 | Leave a Comment
Stock market indexes took traders on a wild and crazy wild, on Monday, as stocks gapped lower due to fears out of Asia, the subprime mortgage market, and other various reasons. By the middle of the day stocks managed to make it to the green but were then slammed in the final hour on heavy selling sending the averages right back to where they started. Read more
Stocks Stage An Impressive Reversal Off The Morning Lows; Stock Indexes Close Red, Across The Board
March 2, 2007 | Leave a Comment
Stocks started off the day with a nasty replay of the action on Tuesday. However, stocks found support shortly after and managed to rally to a respectable close, helping rescue trapped longs. Early weakness caused by a selloff in Asian and European markets (China down 2.8%) and inflation worries quickly sent stocks for a loop. The core personal consumption price expenditure index rose .3%, giving it a year over year increase of 2.3%. That is ahead of the Fed’s target 1-2%. But shortly after that nasty gap down, the ISM manufacturing index came in with a 52.3 reading, above the neutral 50 level. This and a heavy round of short-covering sent the indexes higher and even sent them into the green. But in the final hour, sellers reasserted control, ending the hopeful wishes of a green close by the bulls. Read more
Ugly Morning Finds Support As Stocks Rally Into The Close.
December 19, 2006 | Leave a Comment
The market started the day with a nasty gap down on two possible news stories. A big jump (largest since 1974) in Producer Prices for November and a scare over a possible new Asian-market meltdown put a lot of pressure on the indexes. However, bulls remain extremely strong in the face of selling and rallied the indexes off the lows all the way into the final hour.
Early Morning Fireworks Soon Give Way To A Dull Driftless Day Of Trading.
December 13, 2006 | Leave a Comment
A gap open in the morning, thanks to some Airline merger news and strong retail sales, soon gave way to some quick selling that took the indexes slightly to the red. After those early morning lows stocks danced around the flat-line area until the final hour when they caught a small bid and managed to close green.
