This weekend, in my Market Forecast, I said, "…the market has gone quite far, so it may need a breather through the mid-week." This is what the market is doing right now, basically trading sideways. Still, there are pockets of new breakouts. Financials continued to be strong with GS briefly topping over $172 per share, […]
By HappyTrading
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Also posted in GS, AAPL, BIDU, CSCO, MA, C, FRE, V, AIG, ITMN, FACT
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September 21, 2009 – 8:49 pm
Last night, in my weekly Market Forecast, I mentioned that we’ll need to see some more "venting" in some of the commodity sectors. Indeed today, we saw weakness in these sectors. I also thought that coals and steels may not be done going up, although they also needed to let off more steam. After the morning […]
By HappyTrading
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Also posted in AMAG, CELG, AMGN, OSIP, EDU, FRE, APOL, AIG, ESI, INCY, COCO
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August 10, 2009 – 7:54 pm
The market took another break today, as the financials pulled back. GS was very weak, dropping another $3.29 and went below $160 intraday. Just 2 days ago, GS traded above $170. Nevertheless, beaten-down insurers continued to rebound. FRE jumped +128%. FNM gained +51.5%. AIG add another +5.75%. Commodity sectors were mostly on the weak side.
This […]
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The market had a wild ride today, especially after the Fed announcements. The Fed kept rates unchanged at nearly zero and launch $1.2 trillion effort to revive the economy, including an additional $750 billion in mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac. FRE, […]
September 8, 2008 – 4:38 pm
from MyHappyTrading.com by HappyTrading! ™
The market started with a huge gap-up open and charged higher, as investors cheered the government bailout of FNM and FRE. But, quickly after the first 15-minutes of trading, things started to lose momentum. The commodities were still very weak. Coals, metals and fertilizers all went even lower today. Techs also […]
August 14, 2008 – 5:59 pm
This morning, the CPI data came out. It was higher than expected! The market opened lower, but, quickly turned around and went into the positive territory. Dollar went higher and oil dropped again. Commodity-related sectors gave back some gains from yesterday. Gold took a tumble and closed at a new year low. It is trading […]
This weekend, in my Market Forecast, I said,
“The market is fighting to make this recovery stick. Nasdaq tested its daily upper BB last week and its 10-day MA has gone above the 30-day MA. The 20-day MA has turned up. SPX, on the other hand, is seeing the 10-day MA above the 20-day MA, but, […]
By HappyTrading
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Also posted in GOOG, Nasdaq, AAPL, RIMM, JPM, SPX, CSCO, PCLN, AMZN, PRU, WB
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Well, it is still pretty much all about the financials on the market. Even with the housing bill passed this weekend, the financial sector still could not find any cheering today. XLF fell another 4.7% to close below $20. FNM and FRE opened up in the morning, but, quickly slid into the […]
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