I have to first start by saying that we had an epic day in the Boom Factory. My man, Kunal, picked up a ridiculous amount of stocks that rocketed through the roof. It was hard to believe that the market was down during all of the Boom Factory exuberance. BUT, nothing has changed! This is still …
With today’s overall strong market gains, it’s no surprise that many of the stocks on the watch list were triggered. My concern exiting the day was on two fronts – volume and day-long fade. SPY finished fairly well, however, so we’ll just have to wait and see if this market reversal is sustainable. Side …
Summary: Market is sitting on support levels in the macro view with many stocks sitting on or failing below support. Libya and Japan continue to the fuel the bears as bulls trade nervously. In other words, it will be harder to go up than down in this environment. With even America’s pride and joy consumer company, …
Retail swingers continue to get their butts kicked as intraday market volatility and heavy alogos (little black boxes) push prices through stop orders and abuse anyone not willing to ride the wave. Thus, I’m not spending much attention on swings right now and spend most of my time trading intraday. I am, however, sitting on …
The devastation in Japan is on a scale I don’t think any of us can truly grasp. It’s hard to think about how we can profit from this disaster, but there are opportunities to consider. In the meantime, consider giving to the JETRF by clicking on the GlobalGiving link to the right.
At this hour (10pm central on Sunday), the asian markets have fallen off significantly with the TOPIX and NIKKEI leading the way (obviously).
As you know, the last week has seen increased volatility and larger intraday spreads between market highs and market lows. In the SPX chart below, the first thing that jumps out is that the market is forming a symmetrical triangle. These triangles usually squeeze down and then the price shoots heavily above or below. This …