Happy 4th of July
Happy 4th of July! Thursday’s shortened session provided little help to stocks as many on Wall Street were on vacation enjoying this Holiday weekend. Crude oil remains the hot topic on Wall Street as it traded above $144 much of the day. However, we were unable to hit the $150 a barrel […]
Our Bounce Lasts Just One Day
Stocks could not manage to sustain the bullish reversal on Tuesday. Crude oil moved higher and continued financial meltdown fears helped push stocks lower. The extreme oversold conditions we saw on Tuesday mid-day were extreme enough to push a rally. However, those oversold conditions continued on Wednesday. Oversold/overbought markets can stretch […]
Market Bounces Intra-Day, But It was Another Bear Market Bounce
Tuesday’s action was following our most recent trend: DOWN! However, when GM news was released a flood of short covering hit Wall Street. This set off a wave of short sellers across the market to head for cover, pun intended. The market got to a point where it could not get anymore oversold […]
Stocks End the Quarter on a Lackluster Note
An interesting day on Wall Street as Q2 was set to wrap up. Big Cap stocks lead the way for the entire day spending most of it in the green. However, the NASDAQ, the leading index was pounded by Tech giants GOOG, AAPL, RIMM, MSFT, YHOO continue to roll over. Volume was […]
Will We Get Our Bounce?
I am throwing away Friday’s action due to Russell’s rebalance. Although the action on the outside looked appealing it is too hard to tell what kind of influence the rebalance had on the market It seems “too good to be true” scenerio that stocks would bounce soley due to a rebalance in an index. The […]
Bernanke and Friends Fail to Inspire Stock Gains
Stocks were boosted by a fall in oil prices but were less than pleased about the FOMC statement. At the end of the day, stocks simply stalled and fell back to where they were prior to the FOMC release. The only thing positive from yesterday’s trading was we ended the day mostly green. Even […]
Stocks Turn Lower on Increased Volume; FOMC Looms
The FOMC started its first day of a two day meeting whereby they will be voting on whether or not to raise/lower/keep steady the FOMC Target Rate. There was much fan fare about a better than expected housing report but the report still displayed prices had dropped to 2004 levels in many areas of the […]
Financials Continue the Pain, NASDAQ Rolling Over
Stocks failed to rebound from Friday’s action as selling pressure was just too great. The NASDAQ lead the major indexes to the downside as big cap technology stocks continue to fall out of favor. There is no question that Small Cap and Mid Cap stocks are the place to be in this market, […]
Large Cap Stocks Continue the Charge Lower
Quadruple witching Friday added a bit of fury to the market’s fire. Since March, witching Friday has brought on higher volume up days or follow-through days. Heading into Friday many were expecting the market to rise. Stocks had a different idea. More fear about rising crude oil prices, Israel’s dry run (Military exercise; attack on […]
Stocks Continue to Slide, Oil and Gas Continue to Party as Inflation Looms
Financial stocks continue to weigh heavily on the major indexes as continued fear regarding the health of the economy and the banking system dragged down stocks. Assisting the fear was Light Sweet Crude Oil prices moving higher towards all time highs. Small Cap Oil related stocks surged higher from recent consolidation. Volume […]
