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Monthly Archives: October 2009

Monthly Wrap, Oct 09

Wow, what a crazy day, crazy week, and a crazy month!!  VIX is back above 30!  The turn around to the downside today was so quick, we had to close most plays on the long side and traded quickly on the downside.  We were enjoying another fantasic month until this week.  Gave back some gains [...]

Market Cheers GDP Report: SPX, Nasdaq, FCX, RTP, BTU, ABX, PRU, PNC, HIG, WFC, CLF, PCLN, LVS, WYNN

This morning, the GDP report was better than expect, coming in at +3.5% (vs. the consensus of +3.2%) for the quarter from July through September.  The market was encouraged by the news and rallied back up, after the recent 4-day selloff.  The Dow was particularly strong, charging up almost +200 points!!  Commodity sectors had sold off hard earlier [...]

Market Tumbles On Weak Commodities! SPX, Nasdaq, DO, APA, NOV, WLT, CNX, MEE, BTU, AKAM, FSLR

When the market falls, it falls fast!  The dollar continued to glide higher, as investors sell off stocks in the commodity sectors.  Oil fell to $77/barrel and gold dropped below $1030/ounce.  Miners were extremely weak, led by coal names.  Yesterday, MEE reported earnings that beat the estimates, but, revenue was on the soft side.  In [...]

The Market Sinks As The Dollar Bounces: SPX, Nasdaq, MA, HIG, PRU, PNC, SOHU, BIDU

The market popped higher this morning.  But, after 2 hours of trading, it took a sharp dive and continued lower until the close.  It was a similar move as what happened on Friday.  In both case, the dollar bounced.  Commodity sectors were mostly red.  The gold and silver plays were especially weak.  Financials also fell [...]

Market Forecast + Sector Watch: SPX, Nasdaq, GLD, XLE, XLF, XME

Last weekend, in my Market Forecast, I said, "For the new week, we could see some major advancements in the market by the week’s end.  The important thing is for the market to keep above SPX 1080 and Nasdaq 2150, while letting off some steam.  Techs will see a lot of important earnings:  AAPL (Monday), [...]

Strong Comeback after Wednesday Drubbing

We picked off a nice winner with PNC calls early this am, and look to do the same on some names early on Friday! Nice KACHING here for a few hours time. October 22, 2009 10:49 | Bagger Vance PNC ($51.12) Sold to Close PNCKJ Nov 50 calls, at $2.90 +61% 06:45 | Bagger Vance [...]

Market Sinks To Test Support: SPX, Nasdaq, MS, WFC, AAPL, FCX, FFIV, EBAY

Yesterday, in my evening article, I said, "For the past 4 trading sessions, the market has been treading water, which means some consolidation is happening.  Both SPX and Nasdaq are sliding away from the daily upper BB.  This shows a lack of immediate momentum to push the market higher.  Unless the market can jump back up to [...]

Four Shippers Emerging From the Mire

After a thrilling two-week rally in the stock market during early September, shippers began to fall.  They had been enjoying a nice rally on the general premise of economic recovery, market stabilization, and rising materials prices.  But suddenly on September 17th, the shipper sector broke, and leading names fell – plummeted, actually, at a much [...]

Earnings Fail To Excite Market! SPX, Nasdaq, AAPL, TXN, BLK, BTU, YHOO SNDK, CREE, ISRG

Although both AAPL and TXN reported solid earnings yesterday, they were not enough to draw more buyers in, just yet.  The market took a breather as the dollar managed a bounce, which resulted in weakness in the commodity sectors.  AAPL closed below the $200 level, up just +4.69% from yesterday’s close.  TXN barely kept in [...]

Market Rallies Higher On Commodity Sectors! SPX, Nasdaq, POT, MOS, CF, AGU, FCX, RTP, BTU, ACI, CNX, AAPL, TXN

The market was strong today with commodity sectors leading the rally.  Yesterday, in my Sector Watch, we looked at the agriculture sector, as MOO made a solid move higher last week.  Today, POT was rumored to be a buyout target for BHP, and, the sector pushed higher!  POT opened above $100 this morning and never [...]