The market opened lower today, but, the weakness lasted no more than 15 minutes. Buyers came in and picked up stocks on the dip. Oil gapped lower at the open and most commodity sectors opened in the red. However, crude ended the day in the green, above $80/barrel! Biotechs continued to plow higher as BTK [...]
Monthly Archives: March 2010
Market Ends Higher On Reversal: SPX, Nasdaq, GOOG, BIDU, VPHM, INCY, AMAG, FRX, DNDN, TEVA, LVS, WYNN, WMS, MGM
March 22, 2010 – 8:38 pm
Weekly Wrap + Market Forecast + Sector Watch: SPX, Nasdaq, UUP, GLD, USO, PBW, OIH, XLE, STP, FSLR, YGE, TSL, SPWRA
March 21, 2010 – 7:55 pm
Last weekend, in my Market Forecast, I said: "For the new week, although market indices still look strong, this rally is extended. Many tech and financial leaders could use a breather. On Tuesday, we have the FOMC meeting. The market may act undecidedly ahead of the meeting. If the market slips ahead of Fed’s rate decisions but [...]
Mixed Week As The World Awaits Word On Healthcare
March 19, 2010 – 5:46 pm
I wonder what is more of a distraction for traders: March Madness or all this talk of healthcare reform. I think there is a little of both and more. I tend to watch the market for clues and today was really no more than some profit taking. Remember, you have a million excuses to sell. [...]
Expiration Week Notes
March 18, 2010 – 4:08 pm
Expiration Week May Bring Pause This week brings us the first big expiration of the year, a quadruple witch comes Friday Mar 19. We’ve discussed the relative importance of this quarterly ritual. The modest volatility of the market tells us not to expect much in the way of big movement, at least early [...]
Market Marches On! SPX, Nasdaq, WLT, MEE, ANR, PCX, HIG, BLK, PNC, STI, STT, APA, APC, OXY, HES
March 17, 2010 – 4:42 pm
The market continued to push higher today, ramping up to new 2010 highs! Financials were strong today. FAS (financial bull 3x ETF) hit an intraday high of $96.84. In early February, FAS touched an intraday low of $60. That’s a +61% rise from the February low in just a little over one month!! BLK got [...]
Fed Feeds The Market To New High! SPX, Nasdaq, CLF, WLT, ACI, PCX, MEE, GOLD, NEM, AEM, SLB, DO, RIG
March 16, 2010 – 5:23 pm
In my Market Forecast (click here) this weekend, I said, "Many tech and financial leaders could use a breather. On Tuesday, we have the FOMC meeting. The market may act undecidedly ahead of the meeting. If the market slips ahead of Fed’s rate decisions but manages to keep close to SPX 1150, we could get another bump [...]
Market Forecast + Sector Watch: SPX, Nasdaq, XLF, UUP, GLD, XME, MOO, CLF, WLT, X, MEE, POT, CF, TRA, MOS, AGU
March 14, 2010 – 7:57 pm
Last weekend, in my Market Forecast, I wrote: "For the new week, both SPX and Nasdaq are showing a new bullish formation in their respective daily MAs. Nasdaq is basically at the resistance set back in January, 2325. SPX’s next resistance is at 1150. Above these resistance level, the market could break out to a [...]
3/12/10 Weekly Wrap POT, GOOG, RIMM
March 13, 2010 – 3:42 pm
The market had another strong week. Financials and techs kept the market higher. Nasdaq continued to plow higher and SPX closed right at 1150; well, 1149.99! We also had a great week, with 100% of the closed trades in the GR$$N We closed out a +87% winner on RIMM early in the week and scored [...]
Financials Help S&P 500 To New High! SPX, Nasdaq, GS, C, PNC, STI, V, MA, RIMM, GOOG, AMZN, AAPL, FSLR, STP, TSL
March 11, 2010 – 9:14 pm
Financials stayed strong today and helped to push S&P 500 to a new 17-month closing high! In my Market Forecast this weekend, I said, "… the market has gone quite far, so it may need a breather through the mid-week. If the market can hold its altitude while letting off some steam, we could see [...]
Gates Dethroned As The World’s Richest
March 10, 2010 – 5:31 pm
Well, the report card just came out, and, Microsoft’s Bill Gates is no longer sitting on top! According to Forbes 2010 list of the World’s Billionaires, Mexican tycoon Carlos Slim Helu has beaten out Americans Bill Gates and Warren Buffett to become the wealthiest person in the world. After dominating the list 14 times out [...]
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