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ETF Preview: Transportation Funds Get Boost From BNI Deal - Banking Funds Drop On European News

Tue, 03 Nov 2009 12:52:36 GMT

Major market ETFs, including the SPY, DIA, UYG and others, are lower in reaction to sharp downside futures trading. European banking declines are weighing on financial markets. An Australian interest-rate hike is seen as a sign of more tightening to come around the globe, the timing of which will be crucial in keeping the recovery on track.[More...]

Consolidation Phase Favors Bulls

Sat, 13 Jun 2009 16:40:10 GMT

Taking a look at index and sector ETF charts, most consolidated during the past week. Until price breaks out of consolidation, neither bulls nor bears hold the advantage. At the same time, the dominant trend is still higher, and support levels are generally closer to current price than are resistance levels. - SPY consolidated under the 95.00 level this week. Price has support around the 90.00 area in the form of the 50 and 200 day moving averages, which are about to cross in a bullish fashion. Last week's high was 96.11. A break above that level should squeeze the shorts. [More...]

Dave Fry's Comments for May 20

Wed, 20 May 2009 23:34:29 GMT

MARKET COMMENT May 20, 2009 Wall Street has deals to get done and they were excited about BAC’s secondary this morning. The way these things work is simple: if you’re an institution, you better play ball and buy or you’re cut out of future deals you might really like. So we opened higher amid this enthusiasm and the bad news from HPQ last night was brushed-off. That’s the way it’s been with news—front burner it, back burner it and repeat.[More...]

Dave Fry's Market Comments For January 7

Wed, 07 Jan 2009 22:17:00 GMT

MARKET COMMENT January 7, 2009 The McClellan Oscillator was sending a warning to investors this past week as it hit a contemporary high record. This is why we had such timid positions. So we lost substantial amounts in some individual positions but overall gave back only about 1%. As much as you want to jump in with both feet you have to pay attention to these kinds of warnings and keep most of your powder dry.[More...]

Dave Fry's Market Comments For January 5

Mon, 05 Jan 2009 23:35:00 GMT

MARKET COMMENT January 5, 2009 Part 1 Part 2 Color today, sloppy. Volume is still on the light side as investors may be slow to return to work. Breadth was positive even with negative headline numbers. Despite all notifications of ridiculously poor mathematical calculations Yahoo/Finance still can’t seem to get things right as you’ll note below.[More...]

Dave Fry's Market Comments For October 13

Mon, 13 Oct 2008 23:28:00 GMT

MARKET COMMENT October 13, 2008 Yeah, they’re tossing everything they’ve we’ve got at markets. Lloyd Bridges line from the movie Airplane may be what we all need right now eh? With markets deeply oversold we rallied mightily on the backs of coordinated efforts from global monetary authorities. So that’s the bottom then right?[More...]

Dave Fry's Market Comments For October 7

Tue, 07 Oct 2008 22:27:00 GMT

MARKET COMMENT October 7, 2008 The old expression, “In for a penny, in for a pound” is the government’s chosen path. Once involved in direct market interference and manipulation there’s no turning back. Let’s remember Bernanke studied the Depression and published his views on how that condition can be prevented in the future. Don’t expect him not to put his theories to the test in real time with our money.[More...]

Dave Fry's Market Comments for August 21

Thu, 21 Aug 2008 22:33:00 GMT

MARKET COMMENT August 21, 2008 FNM, FRE, LEH & Putin is not a new securities firm but just the elements in a cloud that continues to hang over markets. Let’s face it, we’re just moving back and forth here. One week bulls seize the tape with declining comm[More...]

Everything Reacting to Readjust Commodity Prices

Fri, 15 Aug 2008 02:38:00 GMT

Commodities saw some selling today, which was a catlyst for the broader market to rally. Leading sectors today in my scan were XLF (on below average volume), IFN, RKH, XHB, KIE, IYR, XLY, IYT, EEM, and RTH. Declining sectors included UNG, GLD, DBB, XLE, O[More...]

The Wagner Daily - August 11, 2008

Mon, 11 Aug 2008 12:38:00 GMT

Stocks concluded last week's session on a rather bright note, as the major indices motored to new "swing highs" within their developing uptrends. Roaring back from the previous day's losses, the S&P 500 gained 2.4%, the Nasdaq Composite 2.5%, and the Dow[More...]