Stocks Fall Hard But Find Support Around Mid-Day; Lower Volume Prevents Another Distribution Day.
January 22, 2007 | Leave a Comment
Stocks started the day off rough and only got worse as the LEI was delayed. The delay helped the selloff pick up steam and stocks quickly dropped to their low’s on the day. However, like usual, buyers stepped in to help support a declining market. However, by the close, their buying could not prop the indexes back into positive ground. Read more
Happy New Year!; Markets Produce A Distribution Day On The Last Trading Day Of 2006.
December 30, 2006 | Leave a Comment
Happy New Year!; Markets Produce A Distribution Day On The Last Trading Day Of 2006.
THIS IS THE VERY LAST FREE “DAILY MARKET ANALYSIS and NEW SWING LONGS/SHORTS” POST ON THIS BLOG.
On the very last trading day of the year, stocks decided to end the year on a slightly nasty note, offering distribution days across the board. There was no news catalyst on this Friday the last trading day of 2006. The only possible reason for the selling that was floating around the street was the fact that traders might not want to be long over the long weekend. My question is: wouldn’t they also not want to be short? Oh well.
Markets Feel The Post-Christmas Joy And Rally; Volume Was Much Lower Than Friday.
December 26, 2006 | 3 Comments
It was up, up, and away for stocks on Tuesday, as the market opened higher and did not look back all day, steadily making advances until the closing bell. The only news out there was holiday retail sales and that bit of bad news did nothing to stop stocks; it just stopped retail and you really can’t call that much by looking at the RLX.
MERRY CHRISTMAS EVERYONE! ! ! ! ! ! ! !
December 22, 2006 | Leave a Comment
On the last trading day before Christmas, stocks continued their recent trend of flat to positive opens that eventually lead to a consistent downtrend until the close. For the fifth day in a row on the Nasdaq and for the fourth out of five days on the SP 500, stocks fell on lower volume. The pullback, today, was blamed on the durable good numbers minus transports falling 1.1%. Talk about cherry-picking your data. Sheesh.
Low Volume Pullback Is All I Want For Christmas.
December 21, 2006 | Leave a Comment
It was another day of a strong opening turning into an ugly close. For the fourth day out of the last five days, markets opened strong or at least positive to reverse and trend lower for the rest of the day. The data point that was blamed was the Philly Fed manufacturing index. It came in below estimates and was the lowest reading since April 2003.
