Note: I have a doctor’s appointment in the morning so there won’t be a watchlist tomorrow. Look for post-Fed charts tomorrow evening. Given how much angst there was over the Bear Stearns fallout I think the bulls have to be happy with how little damage was done to the indices today. The S&P managed to [...]
Posted by 24 February 2008
February 22, 2008 Stock Market Recap
Skittish. Confused. Insane. One or maybe all of those words describes the current market environment. For days now we’ve had mini-rallies sparked by some seemingly good news which have been met hours later with selling based on seemingly horrible news. That cycle repeated again on Friday when, at about 3:30, CNBC sparked a furious rally [...]
Posted by 5 February 2008
February 5, 2008 Stock Market Recap
The ISM Services report really threw the market for a loop today. When services make up some 90% of the economy you really don’t want to see weakness there. What we saw today was simply recession fears: Signs of a recession. Both the 41.9 business activity reading and the 44.6 summary number represent the second [...]
Posted by 30 January 2008
Watchlist for January 30, 2008
There’s not much to say right now. We’ve just got to wait & see how the market reacts to the Fed decision this afternoon. On Today’s Calendar: 2:15 — FOMC Policy Statement More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic Potential swing trades: See one of the recent ‘Chart Reading‘ [...]
Posted by 23 January 2008
Watchlist for January 23, 2008
Here we go again. The futures are getting clocked thanks to Apple and another round of rumors & worries about bank write-offs. I figured yesterday’s lows would have to get retested but I didn’t think it would be this quick. There’s no gap fade in my plans today. Maybe I’ll do some buying if it [...]