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Monthly Archives: September 2009

Trade Set-Ups: PSPM, BEST

The most recent version of the falling resistance line Purespectrum, Inc. (PSPM) – which dates back to May -was technically broken on Monday with a massive outside day reversal to the upside. Volume behind that potential Purespectrum pivot wasn’t great, but it was stronger than the prior day. The stock’s followed through since then. Purespectrum [...]

Market Transients Reveal Underlying Stock Strength or Weakness: GE, AEM

This mornings deep market transient, in which the SPX fell 1% then climbed back to even, gave us an opportunity to see the internal workings of the market as it separates the losing stocks from the winning stocks. To do this, we can gauge the bullish or bearish bias in a lot of stocks based [...]

Market Stays In Flat Ahead Of Jobs Data: SPX, Nasdaq, ESI, APOL, EDU, NKE, AEM, GOLD, ABX

The market was very choppy today.  It opened higher, but, soon dipped back to hover around the flatline.  A drop in consumer confidence prompted the market to be a little more cautious.  Education stocks were strong today.  ESI was up +2.42% and traded almost to $112 before closing at $110.05.  APOL added +2.17% and EDU [...]

M&A Deals Boost Stocks: SPX, Nasdaq, XRX, ACS, ABT, GS, HIG, AXP, PRU, BLK, CME, ICE

This morning, the market opened higher, encouraged by M&A deals.  Xerox (XRX) announced a $6.5 billion deal to buy ACS.  XRX shares dropped 14.48% while ACS jumped +14.%.  Abbott Laboratories (ABT) said it would pay $6.6 billion for the pharmaceutical business of Belgian chemicals maker Solvay.  ABT shares traded higher by +2.64%. The financials responded [...]

Market Forecast + Sector Watch: SPX, Nasdaq, GLD, XME, USO, FXY

Last weekend, in my Market Forecast, I wrote: "For the new week, we might see some sideways trading to start the week.  Miners may need to let off some more steam, although some other sectors are just starting to show breakout signs.  SPX has support at 1060 and Nasdaq needs to stay above 2120.  Again, [...]

Monthly Wrap: Another $$Super Month!!

We’ve had another $$Super Month!!  Here are the trades closed for the month (you can see more details from our Trade Records Page Updated (CLICK HERE)).  Besides a few trades, our picks were once again mostly GR$$N.  Trades with over +50% gains are highlighted: 10:32 | HappyTrading FSLR ($150.30) Sold to Close QHBJI Oct 145 [...]

More Profit-Taking To Let Off Steam! SPX, Nasdaq, AEM, GOLD, BTU, MEE, CNX, RIMM, AAPL

Even though the jobs data was favorable this morning, the commodity sectors remained weak.  It was a signal that profit-taking was going to continue.  Crude oil and gold prices fell further.  Miners dropped lower:  AEM -5.22%, GOLD -3.41%, BTU -2.58%, MEE -4.77%, CNX -3.22%. This morning, I commented in our Trading Room: September 24, 2009 7:51 [...]

Choppy Trading On “Fed Day”: SPX, Nasdaq, BLK, GS, WFC, JPM, BAC, RIMM

As expected, the Fed left the interest rates unchanged.  The market stayed strong most of the day, with a push to its day high immediately after the fed announcements.  But, the rally soon faded and the market sold off into the close. This morning, BLK received an upgrade to "Buy" with a $230 price target.  [...]

Biotechs Keeps Nasdaq In The Green: SPX, Nasdaq, CELG, AMGN, INCY, OSIP, AMAG, AIG, FNM, FRE, ESI, APOL, COCO, EDU

Last night, in my weekly Market Forecast, I mentioned that we’ll need to see some more "venting" in some of the commodity sectors.  Indeed today, we saw weakness in these sectors.  I also thought that coals and steels may not be done going up, although they also needed to let off more steam.  After the morning [...]

Market Forecast + Sector Watch: SPX, Nasdaq, XLF, USO, UUP, XME, MOO

Last weekend, in my Market Forecast, I wrote: "For the new week, Monday may be a bit shaky, as the market needs to let off some more steam.  But, as long as the market does not fall too far below the daily upper BB, it should stay strong.  SPX 1030 and Nasdaq 2050 will be [...]