Today the Nasdaq put in its highest volume day of 2006 (according to TeleChart’s data, not the StockCharts chart below) as it made another new intraday low for the year and then rebounded. The S&P dropped into negative territory for 2006 intraday but was able to bounce back and close less than a point above [...]
Posted by 24 May 2006
Watchlist for May 24, 2006
Posted by 23 May 2006
May 23, 2006 Stock Market Recap
What was that I said yesterday about relentless selling? This is why, when looking for a bottom, I’d rather have the market gap down than up. The gap up just invited any fast money types who bought yesterday to snatch the quick gain. The market it its high early in the session and just drifted [...]
Posted by 23 May 2006
Watchlist for May 23, 2006
We’ve got some strength in the futures this morning. Both QQQQ and SPY are trading a hair below yesterday’s highs. I want to see those highs taken out and then a series of higher highs & higher lows on the intraday chart before I become a buyer. Potential swing trades: Shorts: None Longs: CSX, CTXS, [...]
