Posted by 30 September 2004

Marking Time

The Nasdaq and S&P 500 managed to end the day near unchanged today while the Dow contained its losses to 56 points. That Dow loss was impressive given that Merck accounted for around 70 negative points on its own. I’ll still be focusing on the S&P’s 200-day moving average to see if it can climb [...]

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Posted by 30 September 2004

A Look at Merck

Merck is all over the news today as they pull Vioxx from the market. The first news of trouble with Vioxx actually hit on August 25. That news threw the stock for a loop and pushed it back under its 200-day moving average. That should have been a clear sign to bail. As I type [...]

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Posted by 30 September 2004

Watchlist for September 30, 2004

The market’s set to open down a bit this morning. If it can shake off the early selling I’ll be focused on the 200-day moving average on the S&P 500, which is just a few points overhead. Currently holding:

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Posted by 29 September 2004

Watchlist for September 29, 2004

There aren’t quite as many longs on the list as I expected because of all the bullish candlesticks yesterday, but the list is more than long enough. A good percentage of the hammers made yesterday were on stocks that are in intermediate and/or long term downtrends, so I had to pass on those. Currently holding:

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Posted by 28 September 2004

A Textbook Bounce

Both the NASDAQ and S&P 500 bounced off of their 50-day moving averages today. That wasn’t very surprising given the technical set-up coming into today. I’d say the S&P could be bought right here with a stop under today’s low. There were a lot of hammers made today so I expect my list of long [...]

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