Last weekend, in my Market Watch, I wrote: "For the new week, the earnings reports are going to be the driving force. The market has run up for 5 consecutive days and may need to rest and trade sideways to start the week. INTC and ALTR will report after the market on Tuesday. On Wednesday, [...]
Monthly Archives: October 2009
Weekly Wrap 10/16/09: GOOG, BAC
October 18, 2009 – 1:28 pm
When earnings and options expiration collide, things get volatile. Such was the case for last week. Nevertheless, the market made new highs, and the Dow went above 10,000, as it fed the media frenzy! So far, lots of earnings came in better-than-expected, but, there were also some disappointments. We traded lightly this week as things were [...]
Energy Stocks Keep The Market Up! SPX, Nasdaq, SLB, DO, NOV, HAL, GOOG, IBM, GS, BAC
October 15, 2009 – 5:16 pm
This morning, Goldman Sachs (GS) reported stronger-than-expected earnings. But, since the financials jumped so much yesterday, investors locked in profits and traded the sector lower. GS slipped 1.9% for the day. However, energy stocks were very strong, as oil reached a new year-high at almost $78/barrel. Oil services were especially strong: SLB +4.16%, DO +3.35%, [...]
Markets Blow Past Yearly Highs (BRCM, V, INTC, CSCO, WFC)
October 14, 2009 – 4:19 pm
Great day for us as we continue to lock down great winners! Here is what we banked today: 07:26 | Bagger Vance BRCM ($30.70) Sold to Close RBFJC Oct 29 calls, at $1.65 +74% 07:10 | Bagger Vance V ($74.60) Sold to Close VEHJQ Oct 73 calls, at $2.40 +66% 07:06 | Bagger Vance INTC [...]
Intel (INTC) Earnings Boosts Market In After-Hours: SPX, Nasdaq, KBH, TOL, SHW, MCD, INTC, CSX, JPM
October 13, 2009 – 8:04 pm
In my Market Forecast this weekend, I mentioned that the market “may need to rest and trade sideways to start the week.” Indeed, the market treaded water on Monday and Tuesday. In our Trading Room yesterday, I said: October 12, 2009 11:20 AM VIX rising, but, should find some resistace around 23.5 [then] we’ll see what [...]
Exploiting a Daytrader Behavior Pattern
October 13, 2009 – 7:59 pm
Daytraders like to relax on the weekend. Holding positions they cannot close makes them uncomfortable. Their short term view of trading interprets a weekend as just a long period of time during which trading is impossible, and positions remain vulnerable. So, they typically unload their positions, both short and long, before the weekend. Knowing this [...]
Market Forecast + Sector Watch: SPX, Nasdaq, USO, UUP, GLD, XLF, INX2
October 11, 2009 – 9:32 pm
Last weekend, in my Market Forecast, I said, "For the new week, the market will start out with a slightly weaker stance. However, if the market can hold its support levels (SPX 1025; Nasdaq 2050), the market can bounce right back up. The market will need to stay strong right from the beginning. Earnings season [...]
Weekly Wrap 10/9/2009 BIDU, GOOG, FSLR, AEM, CNX, ESI
October 11, 2009 – 7:43 pm
The market had a strong week last week. Most major sectors recorded solid gains, even the lagging agriculture stocks (MOO) made some progress. Our trading continued to produce winners; 100% GR$$N yet again (trades with +50% gain or more are highlighted): October 09, 2009 12:26 | HappyTrading BIDU ($427.70) Sold to Close BPJJF Oct 430 [...]
Commodity Sectors Rise As Market Extends Rally! SPX, Nasdaq, RIG, DO, SLB, NOV, CNX, BTU, MEE, CLF, ESI, APOL, LIZ
October 8, 2009 – 7:38 pm
The surprising profit from AA’s earnings report last night certainly gave a boost to the commodity sectors today. In addition, jobless claims fell to the lowest level since January. Oil services sector was especially strong today: RIG +5.04%, DO +2.72%, SLB +2.67%, NOV +4.12%. Coals stocks also pushed higher: CNX +4.23%, BTU +2.72%, MEE +2.68%, [...]
Financials And Techs Stay Strong! SPX, Nasdaq, GOOG, BIDU, AAPL, MA, V, GS, BAC, WFC, COF, AA
October 7, 2009 – 4:37 pm
Last night, in my article, I said that "we might see some volatility in the morning as the market fights around this pivot point." Indeed, the market opened lower, but, quickly bounced back. Then, it spent most of the morning and early afternoon fluctuating around the flatline. However, it managed to closed just in the [...]
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