Another Boring Day Ends With Stocks Pulling Back On Lower Volume; God Help Us All If Tomorrow Is As Slow
March 28, 2008 | 2 Comments
I had a lot of errands that I had to run tonight and the funny thing is that the most important one still is unfinished. And you know what, sometimes that is just the way it goes. I could have been upset that I did not get it done but instead I decided I would cash in my chips and wait for another day.
That right there is exactly how I see the stock market right now. This is a market that looked like it was going to deliver us something good and instead it ended up having a closed sign on it and now we can not get what we want. Many traders want to enter this store and take the merchandise out of it and play with it but the market is closed to CANSLIM investors and there is still nothing I really want in the store anyways.
If that did not make any sense, because I am too tired maybe this will. Tomorrow I am going to go driving around this island for surf. The chances are that nothing is going to be out there. But I am still going to bring a shortboard and longboard and PRAY that something exist out there. If I drive around and there is nothing out there, do you think I am going to paddle out into a lake of flatness? Or let’s say it doesn’t even hit my knees, do I then take my shortboard out? OF COURSE NOT. When there is nothing, there is nothing. Trying to surf waves that are NOT there is stupid and kooky. You want to look like a freaking schmuck? Paddle out into Waikiki waves with your shortboard. Let me know how the “vibe” is.
Stocks move higher without steam
March 25, 2008 | Leave a Comment
The collective yawn you hear is coming from today’s stock market. At 3:55pmEST volume looks to be lower by 10-15% across the board when compared to yesterday’s volume. This is definitely not the type of bullish action you would like to see in a confirmed market rally.
Mid-caps are leading the way along with the NYSE composite index. Boring markets are hard to guage, price action is bullish but with such a dry up in volume. It is hard to get any excitement out of today’s gains.
DJIA Leads The Way As BSC Rocks The Stock Market On Mixed Volume; How Can This Be A Bottom Without A HUGE Surge In Volume On the Nasdaq And NYSE? It Can’t Be!
March 17, 2008 | 2 Comments
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Stocks gapped lower after a horrible announcement by JPM that they bought BSC for $2 a share. Now, while I don’t want to gloat on this, I just want to say that for the 100th time in my life I have warned a bunch of traders to not buy a certain stock and yet they still do it. There was one reader from Santa Barbara from RealMoney.com that attacked me 8 days ago for telling him BSC was a POS. Well here we are from $75 to $4 and yet still no apology. No, thank you. No, I am sorry. Just a big pile of nothing. From Eugj to BHCO to Gerard to WillPS to SCO to Geoffrey from Santa Barbara: all of these characters have called me out and told me that I did not know what they were doing and EVERY SINGLE TIME THEY WERE PROVEN WRONG AND EVERY SINGLE TIME I DIDN’T RECEIVE A SINGLE I AM SORRY OR THANK YOU. Is this what our world has come to? 
Oh well, there is no doubt I have become a sensitive character in my old age and things like this bugs me now. I just don’t know how yet to act when it comes to responding to jackoffs that make themselves out to be major idiots. I guess I will learn to ignore it in the future. The exact same way I ignore going long any stock below the 50 day moving average or go short stocks above the 50 DMA.
Keeping Your Head Above Water
March 10, 2008 | Leave a Comment
The markets continue to suffer continued pressure to the downside. There is very little of quality stocks to go long so how does a trader/investor survive until the next bull market run?
It is quite simple, Cash is King. However, most personalities do not allow traders/investors to sit idle and miss out on the action. This is quite similar to those who can not resist the urge to play slot machines when one can hear the “ching, ching, ching….ding ding ding.” The stock market has the same effect, the action makes those who can not sit idle think they are missing something. In actuality, they will miss very little.
How does one not miss action but, preserve necessary capital to play the next bull market? The very first thing is to set aside 50-75% of your capital into a 1-mo CD or some cash equivalent away from where you can spend it on anything! This restriction will allow you to keep majority of your stake. While your money earns cash rates it isn’t being lost in the market.
Stocks Rally For Second Straight Day, On Lower To Flat Volume; Funds Still Have No Interest In This Market
March 20, 2007 | Leave a Comment
It was another day of light gains, for the stock market. However, today, had a bit more of a steady bullish bias to it, unlike yesterday, as big-cap indexes closed near their HOD. The good news for stocks came on the back of a better-than-expected housing starts number for February. That number was up 9% for the month, which is much better than the 14% drop in January. The bad news, in that mix, came from building permits as they fell again by 2.5%. The other positives effecting stocks was M & A activity. The news that CYTC is making a full bid for ADZA and that PALM might receive a bid for its business might have had a positive impact on stocks. Read more
Stocks Find Intraday Support, Again, With All Indexes Closing Higher On The Day; Leading Stocks Continue Outperformance
February 7, 2007 | Leave a Comment
It was yet another driftless day for stocks, overall, as comments from Fed heads Bernanke, Yellen, Moskow, and the Treasury Secretary had no major effect on the stock market. There was no catalyst for stocks to move in one way or the other. It was basically about earnings action in individual stocks and nothing else, today.
At the close, the SP 400 and 600 led the way, hitting all-time highs, with .5% gains, the NYSE followed, hitting all-time highs, with a .34% gain, the SP 500 was next with a .07% gain, and the DJIA and the Nasdaq finished with a .04% gain. Leading stocks kept up with the SP 400 and 600, with the IBD 100 gaining .4% on the day. It is very positive to see the leaders continue to keep pace with the leading indexes of the day.
Volume was slightly higher on the NYSE and well higher on the Nasdaq. The higher volume, combined with the very nice intraday price reversal, gives today’s action a sense of accumulation off this dip to the 50 dma. It can only be bullish to see buyers stepping in here to support stocks at this key moving average.
Dovish Fed Helps Give Stocks A Big Boost, As Stocks Rise Across The Board.
February 1, 2007 | Leave a Comment
Investors were definitely happy to see the Fed leave rates unchanged–even though I am not sure what else they were expecting–and rewarded the stock market with gains across the board. The Fed stated that core pricing pressure subsided, which relieved inflation concerns, and stated that economic growth was firmer and the housing market has stabilized. These comments without a doubt contributed to the gains. Read more
