September 27, 2006 Stock Market Recap

Today was a chop-fest which turned out to be a stalemate between buyers and sellers. The indices are back in short-term overbought territory based on stochastics and at near their upper Bollinger Bands do don’t be surprised to see some retracement here. I wouldn’t be an all-out bear here though since quarter-end markups could keep [...]

Watchlist for September 27, 2006

The futures reversed from up to down after the durable good report at 8:30. We’ve got a couple more reports due out in the first hour — some housing report at 10 and oil inventories at 10:30. I’ll be watching some oil plays to see if they can get any kind of lift off of [...]

September 26, 2006 Stock Market Recap

Really all we do at WallStrip is make video invitations to parties. The woman in the video above is one of the finalists for the host position. What do you folks think — should she get the job? I don’t have a whole lot to say about today’s action, it was really just more of [...]

Watchlist for September 26, 2006

There are a couple of economic reports hitting at 10 AM — consumer confidence and the Richmond Fed report. That fed report could be a big one given the hard reversal we got last week from the Philly Fed. The action could be intense with the bears trying to defend new highs on the S&P. [...]

September 25, 2006 Stock Market Recap

Trading was a little tricky this morning as Ugly illustrated well. The market gapped up then closed the gap which brought the Nasdaq and Russell back under their 200-day moving averages. (Another day in which fading the gap would have worked.) The bears were probably real happy at that point but then the market reversed [...]