After Market Commentary
Resilient rally
The markets rallied after coming off their highs of the morning, but remained choppy till the close with no particular interesting moves that I noticed on my screens. I made most of my money during the selling from the gap up in the morning. I suppose if I tried to bottom pick, I […]
Afternoon Rally
The market was pretty choppy in the morning with not many long candidates unless you were able to hold on for most of the day. Walmart and Citi were nice longs that should have produced some good gains, although I traded way too much to realize any sizeable gains. This rally was a […]
Another Late Day Selloff
I didn’t participate much today and only traded till 11 am, but I did manage to make some profits on the long side in the morning on Citi and Washington mutual. I also caught some on the short side on Cypress Semi by keying of the overall weakness in the Solar group. Tyson […]
Sick Market
What a wild day in the markets! We had amazing strength in the financials that helped some of the other sectors move higher but was met at 3:25 with aggressive selling out of positions that pushed the markets down close to it’s low’s of the day.
I was busy most of the day […]
More Bad News Pummel Stocks Down 360 Points
We seem to be deluged by bad news almost on a daily basis. This time it was Washington Mutual’s warning that loan defaults would continue at it’s current pace and then in the middle of the day, the Attorney General accused Washington Mutual of collusion to artificial inflate home prices. Anyone long these […]
Nice little Rally
As I was looking at my screens in the morning, I noticed strength in most stocks but Citi kept the rally contained as it continued to hit lows. The possible fallout on others in the group was still in the minds of many but the Dow Industrials managed a late day rally and end […]
Capitulation?
By just looking at the Dow Industrials Chart, you might conclude that it was another one of those reversal days we’ve frequently experienced in the last couple months. But underlying the move was a surge of volume you don’t see too often. A few traded at approximately 5 times their average volume, with some […]
Indecisive Market = Wild Swings
What a crazy day we had today! I saw some pretty choppy movements but there were some periods of tradeable action when the Dow Industrial went negative to positive a couple times during the day. My plan this morning to short mer,c and abk worked out nicely but tie was a bust due […]
Financials Weigh on Markets
Concerns on CitiGroup’s ability to maintain a dividend while renewed skeptism about credit stability within the banking group prompted a negative opening for the markets. The markets moved down pretty aggressively within the first 30 minutes of trading and recovered slightly afterwards. The rest of the trading day was confined to some pretty […]
Commodities push Markets down
On relatively light volume, the Dow Industrials saw red ahead of the Fed’s announcement at 2 tomorrow. There was some widespread selling in oils, metals and any stock remotely connected with them. Profit taking hit them hard and it certainly didn’t help that merril lynch advised it’s clients to take profits on oil […]
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