The overall market was pretty flat all day. While techs and financials were down, commodity sectors were up. The oil services sector (OIH) was very strong and finally broke out! This weekend, in my Market Forecast, I said of OIH,
“…I think sooner or later this sector will break out. RIG, DO, […]
The market opened higher today on favorable durable goods data. But, soon dropped into the red. However, after lunch, the commodities-related sectors seemed to gain more and more momentum. I, then, commented on the member board:
HappyTrading
Posted May 28, 2008 at 9:47 am | Permalink (Edit)
market
commodities are joining in; we might get a […]
By HappyTrading
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Also posted in POT, Nasdaq, SPX, MOS, X, NOV, CF, DO, MON, MOO, CLF, CNX, ANR, MEE
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Oil prices jumped again! The broader market was pretty much weak all day. This morning, I said on the member board:
HappyTrading
Posted May 20, 2008 at 6:56 am | Permalink (Edit)
good morning.
Market
still weak; VIX at around $18, which is now a resistance. no hurry to act right now.
Commodities related sectors were strong. Oil, […]
By HappyTrading
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Also posted in Nasdaq, SPX, HES, NOV, DO, AEM, DVN, UPL, APA, SU, CLR
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The market jumped out the gate this morning. SPX topped 1440 and Nasdaq went above 2550. But, soon after lunch, as VIX hit below the $16 support, profit-taking started. On the member site, I said,
HappyTrading
Posted May 19, 2008 at 10:49 am | Permalink (Edit)
VIX
hitting $16; some profits are being locked in.
We also […]
Yesterday, in my evening post, I said, “The market does still show bullish formations in the major indices. We’ll have to see how VIX deals with the $18 mark (now, a resistance). If VIX gets pushed back down toward $16, we could still see the market forming a new leg up.”
This morning, VIX tried […]
By HappyTrading
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Also posted in ATI, Nasdaq, SPX, FCX, PCU, X, NOV, RTP, DO, CLF, PKX, ACH
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Market did a total reveral of what it did yesterday. Today, it opened high and soon turned around a continued to slide lower all day. VIX, again, gave us some good clues. That $18 support held firmly and VIX just bounced off. I got “increasingly cautious” as the day went:
HappyTrading
Posted May […]
February 20, 2008 – 5:39 pm
So, oil is at $100. Now, gold is rallying to a new all-time high, getting close to $950/ounce! It looks like $1000 gold is not going to be too far away!
The market started sluggishly, but, picked up momentum in the afternoon and closed near the day’s high! For the Dow, it was […]
January 2, 2008 – 6:53 pm
The market opened higher, but, quickly faded into the red. The market tried to bounce in the early afternoon, but, slid back some to the close. The Dow lost 220.86 points; SPX gave up 21.20 points; Nasdaq stumbled 42.65 points.
The big news today were, of course, record-high oil and gold! Oil prices […]
December 12, 2007 – 7:07 pm
This morning, the market opened up sharply, almost completely erasing yesterday’s loss, as the Fed announced further plans to deal with credit problems. But, the big gains quickly faded.
Yesterday, I said, “The market now could slide further to test the 20-day MA (the cyan line). On the other hand, this quick drop might give […]
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/gold/t24_au_en_usoz_6.gif)
![[Most Recent Charts from www.kitco.com]](http://www.kitconet.com/charts/metals/silver/t24_ag_en_usoz_6.gif)
