Posted by 19 June 2003

Expired

Well the market certainly had a change of character today. For the last 3 months or so, bad news has been treated as good news, and good news has been treated as great news. Well today we got selling on decent economic news. Not only that, but the bulls weren’t able to gun ‘em in [...]

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Posted by 6 June 2003

Now that’s a reversal!

The day did start off as a painful one for the bears. The indices all gapped up on the back of a better than expected unemployment report, decent news from Intel, and some potential M&A activity. The NASDAQ had jumped to a better than 2% gain shortly after 10:00, just in time for the standard [...]

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Posted by 3 June 2003

QQQ/NDX Bearish Engulfing

I noticed yesterday that the NDX/QQQ was a bit weaker than the NASDAQ as a whole. CNBC just did a piece on the bearish engulfing pattern made by the NDX yesterday. They did this while showing a line chart, instead of a candlestick chart (WTH?). So I thought I’d post the candle version. Here it [...]

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Posted by 2 June 2003

Tons of Shooting Stars

As I suspected, the market gapped open this morning, launching the S&P 500 over that 965 level. It was off to the races for the market until the Dow touched the 9,000 level. Sellers then stepped in and smacked the market back down. Though the Dow and S&P managed to close on the upside, I’d [...]

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