Gold popped higher today to a new record high, trading around $1270/ounce. Gold miners were equally strong: GOLD +4.39%, NEM +4.02%, AEM +3.63%. This morning, retail sales came in better-than-expected. In addition, BBY delivered a bullish quarter, sending its stock up +6%. MA and V bounced on the news. MA added +3.48% and V climbed +2.5%. [...]
Monthly Archives: September 2010
Gold Soars To New Record High! SPX, Nasdaq, GLD, GOLD, NEM, AEM, BBY, RDWR, MA, V, GS, CME, GOOG
September 14, 2010 – 4:52 pm
Market Forecast + Sector Watch: SPX, Nasdaq, XLE, XME, OIH, INX2, RIG, DO, NOV, APC, BP, AMZN, PCLN, AAPL, GOOG, HPQ, MFE, ARST, FCX, APA, OXY, HES
September 12, 2010 – 7:00 pm
Last weekend, in my Market Forecast, I wrote, "For the new week, the market may need a bit of consolidation. Both SPX and Nasdaq are showing bullish crossovers in their respective MACDs. VIX closed below 22, a level which had been a solid support since May. Wednesday has some economic data that may help to [...]
Weekly Wrap 9/10/2010: RIG, WYNN, GOLD
September 10, 2010 – 3:23 pm
The market consolidated during the first couple of days of the week and resumed higher. Major market indices finished slightly up for the week. We were basically in the waiting mode to start the week and finally cashed out some winners today. We got into RIG yesterday as it was trying to break out. RIG [...]
Market Consolidates After Solid Gains Last Week: SPX, Nasdaq, PCLN, MA, V, VECO, CREE, VMW, CRM, CMG
September 8, 2010 – 3:47 pm
After making solid gains last week, the market has been consolidating after the long Labor Day weekend. Lacking economic news in the US, the market seemed to focus on the European financial system. Yesterday, the market slumped on worries of European banks. Today, the market rallied after a successful auction of Portuguese government debt. Are [...]
Market Forecast + Sector Watch: SPX, Nasdaq, XLF, XME, INX2, MOO, GS, AMZN, PCLN, GOOG, CLF, WLT, FCX, ANR, MEE, POT, MOS, AGU, CF
September 6, 2010 – 8:56 pm
Last weekend, in my Market Forecast, I forecasted, "For the new week, we’ll look to see if we can continue to get improved economic data, especially the consumer confidence and Chicago PMI on Tuesday to perhaps set the tone. On Friday, we’ll get the latest payroll numbers and unemployment rate. VIX actually closed lower last [...]
9/3/10 Weekly Wrap: CLF, FSLR, AKAM, AAPL, GLD
September 5, 2010 – 6:50 pm
Happy Labor Day Weekend!! The market experienced a nice change in the sentiment this week, pretty much in accordance with my forecast, which we’ll review tomorrow. Tuesday’s weekness gave the market a quick headfake. Nevertheless, we had another very nice week, with only 1 trade in the red. We used puts on V as a [...]
Baltic Trading and the Baltic Dry Index
September 5, 2010 – 8:46 am
New shipper company Baltic Trading (BALT) completed its initial public offering on March 15th. The new company immediately took its 228 million and began buying ships – a selection of cheap ships of varying sizes. Was this really a good time to do a shipper IPO, with shipper stocks suffering the disdain of the market? [...]
A Grand Week For Stocks
September 5, 2010 – 8:44 am
A super turnaround this week as the bulls took charge when the 1040 level held once again. This area, an old support/resistance area from earlier this year was tested three times, but that was the charm. Late Tuesday in trading we saw some big buy orders coming through, the last 10 minutes in fact…vaulting the [...]
America Is Dinning Out! BKC, CMG, PNRA, CAKE, JACK, BWLD, EAT, PFCB
September 2, 2010 – 4:08 pm
Restaurant stocks have been soaring this week. The recent rise got an exclamation jump yesterday, Wednesday, when BKC was rumored to be actively seeking a buyer. BKC shares jumped +14.7% on nearly 15 times the average trading volume! Well, this buyout rumor came out to be very true and it happened a day after! This morning, BKC [...]
Market Jumps On Better Manufactoring Data: SPX, Nasdaq, CLF, WLT, JOYG, BUCY, AAPL, AMZN, NFLX, GOOG, AKAM
September 1, 2010 – 5:27 pm
The market bolted out of the gate today and never looked back. Last night, China reported a better-than-expected PMI number. Today, our ISM Index also showed better-than-expected manufacturing activity. As discussed in my Market Forecast this weekend, we paid extra attention to the mining sector. Our trade in CLF turned an overnight profit of +60% [...]
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