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This Is Where Bulls And Bears Fight It Out!

Fri, 19 Jun 2009 04:59:47 GMT

After the big drop on Monday, the market has been very volatile. The overall sentiment has been negative. Today, the market started out strong and was able to keep most of the gains. Financials and health care stocks were among the stronger sectors. For the health care sector, MRK added +3.55%; WLP jumped +5.38%; and, ESRX added +3.91%. Financials finally pulled up a little after falling for 3 straight days: HIG +6.96%, GS +2.4%, BAC +4.88%, PNC +4.05%. The Dow was up +58.42 points; SPX added +7.66 points; Nasdaq slid 0.34 points: [More...]

Market Goes Higher Following Yesterday’s Jump

Thu, 07 Aug 2008 05:38:00 GMT

The market started out weak, but, finished strong. Yesterday, in my evening post, I said, “Tomorrow, we may see the market wobble a bit after today’s big gains. If the market can hold these levels with modest gains, it would be a good accomplishment tomorrow.” The market did exactly that, with Nasdaq outperforming my expectations, adding almost +30 points!RIMM was especially strong today and moved swiftly. It traded almost to $129 and finished at $127.3, up +4.36%. BIDU, which didn’t really move with the market yesterday, gained +2.58%. I think BIDU could be gearing up for a even bigger move.[More...]

Fed Leaves Rates Unchanged; Market Jumps

Wed, 06 Aug 2008 02:40:00 GMT

This weekend, in my Market Forecast, I said,“The market is fighting to make this recovery stick. Nasdaq tested its daily upper BB last week and its 10-day MA has gone above the 30-day MA. The 20-day MA has turned up. SPX, on the other hand, is seeing the 10-day MA above the 20-day MA, but, was held under the 30-day MA. What the market needs now is a solid jump, a big GREEN day, to catch the daily upper BB to allow the market to continue higher. For the new week, we have the Fed meeting on Tuesday. I think the Fed will likely leave the rates unchanged. The financial markets are a bit too nervous right now for the Fed to make any changes. If the Fed leaves the rates unchanged, I think the market will likely[More...]

Weekly Wrap + Market Forecast: SPX, Nasdaq, XLF, USO, GLD, FXI, BTK

Mon, 04 Aug 2008 05:51:00 GMT

The market was volatile last week and ended flat. The Dow ended the week down 44.37 points; SPX added +2.55 points; Nasdaq gained just +0.43 points. Since the market was swinging from side to side very fast and was range-bound, we did not make too many trades. However, once again, we ended with 100% GR$$N on our closed trades:7/31/08CNX ($75.5)CNXTO, Aug 75 puts, at $4.5, +7.1%PNC ($72.8)PNCHU, Aug 67.5 calls, at $6, +25% (partially out)BIDU ($347.3)BPJHJ, Aug 350 calls, at $14, +40% (partially out)We were a little too careful on our CNX put trade, which would have given us a double on Friday! Those[More...]

Biotechs Jump On IMCL

Thu, 31 Jul 2008 07:07:00 GMT

Today, the market was pretty much all about the biotechs! This morning, BMY announced its intention to buy IMCL for $60/share. The news inspired a jump in the whole biotech sector. BMY shares traded down 1.81% and IMCL shares jumped +37.66%! CELG added +1[More...]

Commodity Sectors Join The Rally

Thu, 31 Jul 2008 05:56:00 GMT

The market was strong today with commodity-related sectors joining the rally. USO (oil) jumped +4.17%, while UNG (natural gas) went up +2.02% Crude traded up more than $4 as a surprise drop in the U.S. oil supply was reported. XLE (energy) led the rally today, flying up almost +6%! Here are some of the leaders in the energy sectors: HES +13.5%; CLR +9.05%; CHK +7.99%; HK +7.82%. Oil services were very strong also, with OIH adding +5.82%. Yesterday, NOV reported great earnings and received an[More...]

Market U-turns Back Onto Recovery

Wed, 30 Jul 2008 05:09:00 GMT

The market did a total U-turn today from yesterday’s close and gain back more than it lost yesterday! This weekend, in my Market Forecast, I said,“For the new week, the market should continue to look for confidence in the financials. We need to see the financials continue with their recovery process. Oils and the energy sector still look weak and could fall further, which would be good for the overall market. VIX closed below 23 last week. Below 22 would be very good for the market.”I also mentioned about sharp drops such as what we saw last Thursday and on Monday being opportunities for the market to let out steam quickly and resume the recover process. After a brief lull, oil prices continued with its downward spiral, partially due to the strengthening in[More...]

Market Fights Back As Oil Continues

Wed, 23 Jul 2008 06:41:00 GMT

The market started out weak today, pressured by earnings from AAPL, TXN, and AXP. But, after the gap-down open, the market climbed all day and accelerated upwards into the close. AAPL traded down nearly $20 in the morning, and ended down only $4.27 at $16[More...]

Commodities Bounce!

Tue, 22 Jul 2008 05:22:00 GMT

The market was pretty flat all day. Financials and techs took a breather, while commodity-related sectors bounced. Metals, energy, oil, and agriculture were all strong today. MOS led the fertilizer group, rising almost $12, or +9.38%; POT added +6.52%, and AGU gained +6.56%. In the energy sectors: HES went up +6.26; CLR rebounded +5.04%; SLB kept its winning streak after its earnings report, adding +5.5%; FLR advanced +5.16%. Coals were also hot: MEE +11.64%; BTU +8%; CNX +8.36%, PCX +10.98%.The technology stocks held on well before AAPL’s earnings report. But, after the market,[More...]

Another Big Bank Reports Earnings, Stocks Rally

Mon, 21 Jul 2008 17:57:00 GMT

After Citi (C) reported better than feared results, and its stock gapped higher, many wondered whether BofA (BAC) could possibly duplicate that feat. Investors breathed a sigh of relief this morning, when BAC reported results above expectations, and the stock rallied sharply +11%. This boosted the financials as a group, and the market in general.[More...]