Just this Monday, things seemed ready to break out with the Chinese yuan finally loosening its peg to the dollar. A couple of bad housing reports and a few days later, this market is at the verge of breaking down again! SPX shot up above 1131 on Monday morning; today, it closed below 1080, at 1073.69. [...]
Category Archives: BP
How Fast Things Can Turn: SPX, Nasdaq, APA, BP, RIG, DO, CME, ICE, V, MA, RIMM, AAPL, ORCL
June 24, 2010 – 5:53 pm
Some Profit-Taking, As Expected: SPX, Nasdaq, AAPL, GOOG, FDX, AEM, NEM, GOLD, BP, RIG, APC
June 16, 2010 – 4:44 pm
Yesterday, in my article, I mentioned that we should see some profit-taking and more volatility. This morning, the latest economic data were mostly positive with solid industrial production and benign inflation numbers. Housing starts, however, dropped. The market was a little soft at the open, but, pushed higher in mid-day; only to lose most of [...]
Market Breaks Above Key Resistance! SPX, Nasdaq, RIMM, AAPL, AMZN, GOOG, CLF, WLT, BHP, JOYG, BUCY, DO, RIG, BP, APC, APA, PCP, BA, BBY, MA, V
June 15, 2010 – 3:06 pm
Once again, the afternoon weakness, that occurred yesterday, turned out to be another shakeout! Today, the market cooked up a broadbased rally. So far, the market has behaved exactly as discussed in my Market Forecast this weekend. Techs were very strong today. RIMM led the charge with a +5.85% gain, while AAPL, AMZN, GOOG added [...]
Market Forecast + Sector Watch: SPX, Nasdaq, XLF, GLD, XME, OIH, XLF, GLD, XME, OIH, GS, NEM, ABX, GOLD, CLF, BHP, BP, APC, RIG, AAPL
June 13, 2010 – 7:20 pm
Last weekend, in my Market Forecast, I said: "For the new week, with both SPX and DJI ending below major support levels (SPX 1080 and DJI 10,000), the market can see additional selling pressure. Energy sectors still look weak, with oil spill in the Gulf looking to extend into the fall, although the containment cap [...]
Market Jumps On Better Economic Data! SPX, Nasdaq, BHP, CLF, GS, BP, APC, NOV, NBL, DO, RIG, CF, POT, AGU, MON
June 10, 2010 – 7:34 pm
This morning, the latest jobless claims fell by the largest amount in almost a year. In addition, China reported solid export numbers. The market opened strongly and closed even higher. On Tuesday, in my article, I gave some trading ideas. Basically, I said that if the market is strong, the buying will be in the energy [...]
Markets Can’t Catch a Break
June 9, 2010 – 5:05 pm
It seemed early on that markets were going to get moving to the upside. Volume was strong early, yesterday was a good reversal with nice candles everywhere, then Bernanke started talking and the SPX went right through resistance at 1070. All good stuff. Well, we must remember this market is in a correction, and very [...]
Market Bounces Back After Testing Support: SPX, Nasdaq, APA, DVN, OXY, EOG, IOC, CLF, BTU, FCX, BHP, GLD, BP, RIG, DO
June 8, 2010 – 7:18 pm
As discussed in my Market Forecast this weekend, I was looking for more selling pressure to test SPX 1040. The market was weak in the morning and sank as low as SPX 1042.17. Techs were especially weak today. However, the miners drew some buyers back in and stayed strong most of the day: CLF +4.42%, [...]
Market Forecast + Sector Watch: SPX, Nasdaq, OIH, GLD, XME, INX2, RIG, BP, SLB, HAL, DO, NOV, X, JOYG, BUCY, AMZN, GOOG, PCLN
June 6, 2010 – 8:13 pm
Last weekend, in my Market Forecast, I wrote: "For the new week, the market is definitely struggling to bounce from May’s slump. However, Europe’s financial problems may be worse than that of the US, as China’s Premier warned of a possible double-dip in the global economy’s attempt to recover. Charts are certainly showing the same [...]
A Complete Reversal Of Yesterday! SPX, Nasdaq, SLB, HAL, APA, UPL, EOG, WLT, CLF, PCX, BTU, CME, ICE, RIG, BP, SNDK, FFIV, CREE, AKAM
June 2, 2010 – 4:46 pm
This morning, the latest home sales data came in better than expected. Stocks saw strength right from the start. Energy stocks bounced: SLB +8.81%, HAL +11.96%, APA +4.24%, UPL +10.34%, EOG +6.86%. Coal stocks also attracted buyers back in: WLT +6.13%, CLF +5.95%, PCX +8.95%, BTU +7.65%. The exchanges were very strong as well. Both [...]
Energy Stocks Drag The Market Down! SPX, Nasdaq, BP, RIG, DO, SLB, BHI, APA, APC, WLT, CLF, BTU, CNX, ACI, AAPL, APOL, AMGN
June 1, 2010 – 7:59 pm
Over the Memorial Day Weekend, BP had failed to stop the oil leak in the Gulf of Mexico. Out of the gate, the oil services sector gapped lower. Further, the government announced criminal and civil investigations into the oil spill. BP stock tumbled 14.97%! Other oil services companies took a hit as well: RIG -11.85%, DO [...]
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