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Monthly Archives: June 2011

Stocks Rally On + Early Weekly Wrap-Up! SPX, Nasdaq, CAT, JOYG, NOV, IOC, FSLR, SPWRA, TSL, STP, CF, AGU, MOS, BIIB, AAPL, FFIV, DLTR, ICE, BIDU, GS, CTRP

This morning, a stronger-than-expected Chicago PMI prompted stocks to jump at the open.  Although they plateaued after the morning jump, stocks were able to keep most of their gains.  Industrials and energies continued to bounce:  CAT +3%, JOYG +5.69%, NOV +3.18%, IOC +4.58%.  Solar stocks were really strong.  FSLR jumped almost $13 in the morning, [...]

Market Continues Its Bounce! SPX, Nasdaq, GS, NKE, OVTI, BIIB, AAPL, FFIV, WYNN, LVS, FSLR, POT, MOS, CF, AGU, MON

The market continued where it left off on Monday and pushed higher.  Energy and mining sectors finally participated in some buying.  Financials, however, were still weak.  GS was down again, off $1.45, and could break lower.  GS "had" a support at $130; it closed under that today.  We could see GS drop further to test [...]

Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, GLD, USO, MOO, FDN, CF, POT, AGU, MOS, MON, PCLN, NFLX, FFIV, CRM, VMW, RVBD

Last week was another volatile week, and, the market indices were once again mixed.  In last weekend’s Market Forecast, I wrote: "For the new week, the momentum is still on the downside.  Bounces will likely not hold.  VIX is now above 20 and could easily pop higher.  The support between 1260 and 1250 could be [...]

Lowering Oil/Gas Prices Is the Right Move! XLE vs. SOXX, PCLN, NFLX, OPEN, AAPL, LNKD, CRM, VMW, FFIV, RVBD

This morning, jobless claims came in higher than expected.  The market quickly fell lower.  But, buyers started to come in after the first hour of trading.  Energy stocks were very weak.  Oil gapped down at open and only recovered slightly.  The US and the International Energy Agency jointly announced that 60 million barrels of oil [...]

Techs Lead the Market in A Strong Bounce! SPX, Nasdaq, BIDU, SINA, SOHU, QIHU, PCLN, GOOG, AMZN, OPEN

Stocks popped higher today at open and never looked back!  Buyers were rushing back into the beaten down tech stocks.  The bounce was broad-based, although short-covering rendered the oversold sectors flying.  Chinese internet stocks, especially, saw a really strong day!  SINA vaulted almost +20%, trading as high as $92.9 from yesterday’s $77.62 close!  Other stocks [...]

Weekly Wrap-Up + Market Forecast + Sector Watch: SPX, Nasdaq, GLD, GDX, USO, XLF, NEM, ABX, GOLD, MA, V, AXP, GS, WFC, JPM, BAC

It was another volatile week, ending with the market indices mixed.  Although ultimately the market indices ended the week little changed, the market did experience huge swings during the week! Last week, in my Market Forecast, we discussed, "For the new week, the downward momentum just picked up.  SPX fell below 1280 and the next [...]

Case Study: NFLX vs. SODA, ESI, BIDU

NFLX closed down more than 3% today, falling $7.82 and closing below just below $250.  Intraday, NFLX traded as low as $244.26.  We have been trading and watching NFLX puts for over a week.  As it kept testing the support at $260, I said in the Trading Room: June 9, 2011 8:39 AM NFLX once [...]

A Failed Attempt To Bounce? SPX, Nasdaq, APKT, NFLX, AAPL, POT, CF, AGU, MOS, RIMM

On Tuesday, the market made an attempt to bounce.  But, it turned down again on Wednesday and gave back all of the gains.  In my Market Forecast this weekend, we discussed the support levels at 1260 for SPX and 2600 for Nasdaq.  Both of these levels were tested today.  Needless to day, since we were [...]

Market Gets Broad-based Bounce: SPX, Nasdaq, MCP, BIDU, SOHU, SINA, YOKU, CLF, WLT, ANR, ACI, CF, AGU, POT, MOS, MON

The market popped higher at open today and managed to keep most of the gains.  The rally was broad-based.  Yesterday, in our Trading Room, I commented: June 13, 2011 11:11 AM market wants to bounce We cashed out the rest of our June downside plays, including a +127% win on MCP June $52.5 puts: June [...]

Market Forecast + Sector Watch: SPX, Nasdaq, USO, XLE, FDN, GDX, ABX, GOLD, NEM, NFLX, AMZN, GOOG, PCLN, APA, HES, DVN, EOG, OXY

It was another wild week and the bulls took another beating.  Last weekend, in my Market Forecast, I wrote: "For the new week, the momentum has shifted back to the downside.  Below 1300, 1280 is the nearest support for SPX.  Nasdaq has support between 2700 and 2675.  We may see light bounces earlier in the [...]