Trader Mike

As I see it today was nothing but a battle over control of the 200-day moving averages on the indices. The S&P 500 and Dow popped over their 200s early in the session and were cruising along until selling kicked in just before 2:00. By the close only the Dow remained above its […]

Things are looking good for the bulls this morning. Intel had a good earnings report last night and this morning’s CPI seems to be a non-factor.

On Today’s Calendar:

10:30 — Crude Inventories
2:00 — Fed’s Beige Book

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
Potential swing trades:
It’s hard to find many stocks […]

We’ve got some strength this morning thanks to folks taking the news of even more write-offs in the financial sector as a bullish sign. Go figure…
On Today’s Calendar:

10:00 — Construction Spending
10:00 — ISM Index

More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
Potential swing trades:
Here are a few charts that caught […]

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 […]

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 […]

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 […]

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‘ posts for […]

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 […]

I don’t know if today was THE big capitulation day everybody’s been waiting for or not. I suspect that it wasn’t but time will tell. I’m doubtful because volume, while high, wasn’t high enough for me. I also didn’t like the intraday action as far as shaking out sellers goes. I’d […]

Note: I have an appointment in the morning so there won’t be watchlist for Monday.
Obviously last week was bad for the bulls. There was a lot of technical damage done on higher than average volume. The usual index charts are below along with a bunch of individual stock charts. […]