The indices continued their range-bound trading today. The early strength gave way to selling mid-morning. I’m not sure whether to blame it on Obama’s economic press conference or technicals — the Nasdaq approaching its 50-day moving average and the indices hitting last week’s range tops. I suspect we will have more of this range trading [...]
Posted by 21 January 2009
January 21, 2009 Stock Market Recap
The rally got a little dicey this morning but the bulls were able to keep the pressure up into the afternoon session. So the market recouped the bulk of Tuesday’s losses on slightly higher volume. We’ve now got the Nasdaq and S&P poised to breakout above their January downtrends. Let’s see if the news flow [...]
Posted by 12 November 2007
November 9th Recap and ChartFest
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. Sorry that i couldn’t get [...]
Posted by 12 August 2007
The Roof is on Fire, The Fed Brings Water…
(Note: I’m still on semi-vacation. Posting will resume its normal pace in September.) The Roof! The Roof! The Roof is on fire! We don’t need no water, let the mutha-f#^*@ burn. Burn mutha-f#^*@, burn! Apparently the Fed (aka The Plunge Protection Team (PPT)) isn’t down with “letting it burn”. The US Fed joined other global [...]
Posted by 18 January 2007
Island Top Reversal for Apple — iPhone Gains Threatened
I’ve gotten a few emails asking me where I see support on Apple (AAPL). Ideally, It would have found support right at the November highs but it sliced right through that area. Now I think the logical area to expect buyers to step up is at the 50-day moving average, which is currently at $87.29. [...]
