This morning, retail sales numbers came in better than expected. Investors were seemingly encouraged by the data and proceeded to push the stocks higher. Gold, once again, made new highs, trading above $1140/ounce. Oil also went higher. Commodity sectors bounced today. Coal stocks were particularly strong: BTU +5.51%, ACI +2.9%, CNX +4.21%, MEE +6.08%. In the morning, [...]
Monthly Archives: November 2009
Market Rises To New Heights! SPX, Nasdaq, GLD, SLV, GOLD, ABX, NEM, CNX, BTU, ACI, MEE, ZOOM, SINA
November 16, 2009 – 6:11 pm
Market Forecast + Sector Watch: SPX, Nasdaq, GLD, GDX, XLF, XLE
November 15, 2009 – 9:43 pm
Last weekend, in my Market Forecast, I said, "For the new week, the market will start the week in a neutral position. If SPX and Nasdaq can rise above their respective daily MAs, the market can rally higher. The immediate resistance levels above the daily MAs are SPX 1080 and Nasdaq 2150. Although VIX closed below [...]
A Week Of Triple Digit Gains! GOOG, GLD, CTRP
November 13, 2009 – 1:16 pm
It was another solid week for the market. SPX came back to close above 1090 and Nasdaq saw some good strength today. We had a really nice week with lots of triple digit gains. Here are the closed trades for the week (all of our gains are above +50% this week, so, I’m only highlighting [...]
Energy Stocks Stall The Market: SPX, Nasdaq, APA, DO, RIG, NOV, WLT, GOOG, CTRP, DIS
November 12, 2009 – 9:22 pm
Last night, in my evening article, I said, "We’ll need to see some strength back in energy stocks to push the market above SPX 1100." Well, the energy inventory numbers today showed a drop in energy use. Energy stocks turned weak soon after the numbers were released: APA -2.66%, DO -1.58%, RIG -2.74%, NOV -3.14%, [...]
Market Tests SPX 1100 Again! SPX, Nasdaq, HPQ, COMS, JDSU, BRCD, BRCM, JNPR, IBM, CSCO, CTRP, GLD, GOOG
November 11, 2009 – 8:48 pm
On Monday, in my evening article, I said, "The market had a really strong day today and we could see some profit-taking tomorrow. SPX 1100 could be tested, but, I think we might need a couple of more days before breaking above that level." Isn’t it funny how a couple of sentences can sum up the market [...]
Shipping Rally Boosts EGLE, GNK, DSX, & Others
November 11, 2009 – 7:44 pm
We had a big day for shipping firms today in the stock market, with SEA (Claymore-Delta Global Shipping ETF) moving up over 3%, and some shipping companies posting gigantic advances: EGLE up 16%, OCNF up 15%, GNK up 15%. So what is the real reason for the sudden optimism in this beaten-down, depressed and desolate [...]
The Dow Hits New 2009 High! SPX, Nasdaq, AXP, MA, V, COF, WYNN, LVS, WMS, MGM, PCLN, HMIN
November 9, 2009 – 4:42 pm
Investors cheered the reassurance from the G-20 to keep economic stimulus measures in place. The market opened strongly today and continued to go higher until the close. Most sectors participated in the rally. Gold recorded new record highs, trading above $1100/ounce. Oil also went up, trading above $79/barrel. We locked in some more profits today, including [...]
Market Forecast + Sector Watch: SPX, Nasdaq, XME, XLF, SOXX, GLD
November 8, 2009 – 8:49 pm
Last weekend, in my Market Forecast, I said, "For the new week, it looks like the market is trying to send the Fed a message before the FOMC meeting on Wednesday. What the market is trying to show is the potential "double-dip" if the Fed pulls out liquidity measures too soon. On Friday, the market will get the latest unemployment rate [...]
Tremendous Week! GOOG, GLD
November 6, 2009 – 1:20 pm
We’ve had another tremendous week this week. We were very careful to start the week. But, when gold appeared to be breaking out, we jumped on the gold-rushing train, as a member exclaimed today: billbigD November 6, 2009 12:45 PM GLD- Happy very nice on those two GLD trades before the India announcement. Congrats We [...]
Market Rallies On Positive Economic Data! SPX, Nasdaq, TSL, YGE, STP, FMCN, CHU, CYD, HMIN, SBUX, NILE
November 5, 2009 – 8:55 pm
This morning, the jobless claims numbers were much less than expected. Adding to CSCO’s positive outlook from last night, the market was in a rallying mood from the open. In our Trading Room, I commented: November 5, 2009 6:58 AM good morning! market nice economic data this morning; market should have a solid day to [...]
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