The market gapped lower today to open. On Monday, in my evening article, I wrote: "So, there’s no hurry jumping back on the long side just yet. I’d rather enjoy a couple of days playing the downside." We entered into some August puts on FSLR: August 17, 2009 08:51 | HappyTrading FSLR ($134.50) Bought to [...]
Monthly Archives: August 2009
Oil Surges, Commodity Stocks Rise: SPX, Nasdaq, FSLR, AIG, FCX, DVN, APA, DO, NOV
August 19, 2009 – 4:58 pm
Learning When NOT To Trade
August 18, 2009 – 4:42 pm
This morning both TGT and HD gave buyers some incentives to come back into the market. Both companies reported better-than-expect earnings. TGT shares jumped +7.55% while HD added +3.14%. The market was strong right from the open and finished near the day’s high. Financials were strong after upgrades on GS and AXP. GS rose +2.05% and [...]
Market Takes A Quick Tumble: SPX, Nasdaq, BIDU, GOOG, AAPL, RIMM, X, FCX, RTP
August 17, 2009 – 3:37 pm
Today, the US stock market followed the Asian markets down on a global pullback. Last night, in my Market Forecast, I pointed out that both SPX and Nasdaq are showing weakness and are ready for a quick drop. It happened today! The market dropped sharply right from the open. The Dow fell 200 points within and first [...]
Market Forecast + Sector Watch: SPX, Nasdaq, UUP, USO, XME, MOO
August 16, 2009 – 7:10 pm
Last weekend, in my Market Forecast, I wrote: "For the new week, we’ll continue to watch the delicate balance between the dollar and the commodity sectors. Technically speaking, the market can now break higher on a new leg up. This could draw in another chunk of the money sitting on the sideline. We could see the market [...]
Commodity Sectors Push SP 500 To New Height: SPX, Nasdaq, FCX, X, CNX, BTU, MEE, CLF, LVS, WYNN, WMS
August 13, 2009 – 6:35 pm
After yesterday’s strong showing, the market pushed higher today. In my article last night, I said, "I think we’ll need to see the commodity sectors push higher in order for the broader market to break above the recent resistance levels." Today the commodity sectors responded. Miners were very strong. FCX closed above $66 with a [...]
Markets Keep Gains As Fed Gives Brighter View: SPX, Nasdaq, GS, COF, PRU,TOL, KBH, PHM, WYNN, LVS
August 12, 2009 – 8:18 pm
Today, the market was strong from the beginning. Financials rose again after 2 days of profit-taking: GS +2.85%, COF +3.14%, PRU +4.49%. This morning, Toll Brothers (TOL) reported a rise in signed contracts in new homes in 4 years, sending TOL stocks up more than +14%. Other home builders also rallied: BZH +9.32%, KBH +2.87%, PHM +4.38%. [...]
Shippers Disappoint Market, Market Disappoints Shippers
August 12, 2009 – 7:06 pm
When a company without a dividend declares one, the stock is supposed to be worth more. Especially a shipper. For a shipper with a suspended dividend, restarting its dividend again is almost the Holy Grail of good shipper earnings reports. But not if you are Paragon, apparently. The report read: "Paragon Shipping beats by $0.08; [...]
Market Mojo
August 11, 2009 – 1:05 pm
Wanted to share with you all a recent article I wrote (below), very brief. Also, to let you know some of the solid winners we’ve been posting of late on happy trading: August 10, 2009 07:32 | Bagger Vance AKAM ($19.76) Sold to Close UMUIR Sep 18 calls, at $2.15 +105% July 30, 2009 06:31 [...]
Financials Pull Back As Market Stalls: SPX, Nasdaq, GS, FNM, FRE, AIG, PCLN
August 10, 2009 – 7:54 pm
The market took another break today, as the financials pulled back. GS was very weak, dropping another $3.29 and went below $160 intraday. Just 2 days ago, GS traded above $170. Nevertheless, beaten-down insurers continued to rebound. FRE jumped +128%. FNM gained +51.5%. AIG add another +5.75%. Commodity sectors were mostly on the weak side. [...]
Market Forecast + Sector Watch: SPX, Nasdaq, UUP, USO, XME, XLE
August 9, 2009 – 8:01 pm
Last weekend, in my Market Forecast, I said, "For the new week, I think there is still a lot of sidelined money looking to come in the market. There is a possibility that we see a quick pullback, just to make some room for the technicals. The dollar took a big drop on Friday, which [...]
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