BecauseofafightbetweentheNFLnetworkandcablecompanys,theonlyplacewecanwatchtonight\'sCowboyandPacker\'sgameisonawebcast.itisslowandittiedupthecomputeraswell.GoodthingisCowboyisahead.hopefully,theycankeepittotheend.
Thesamecanbesaidofthemarket.themomentumisobviouslyswingtothebull\'sside.hopefully,wecankeepittotheendofyear.
Continuewithyesterday\'stheme,themarketcontinuetoimprove.Almostallthe...[
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Itisaquickturnaround.inashorttimeoftwodays,thepsychoofthemarketchangedcompletely.Itusedtobethattraderssellbeforetheclosing,butpeopleisbuyingtodaybeforetheclosing.bytheendoftheday,themarketlooksmuchbetterthanyesterday.
1).VIXisinadowntrend,whichisagoodthingandcancalmthemarket.
2).DOWisreversedfromthedowntrend.andotherindexesarenotfaraway.
3).SMHisreversedfromthedowntrend.andifthehistory...[
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DIAisinpositive.weneedanotherindextoconfirm.
smhisinpositive,so,qqqqmaynotfaraway
europeisbetter...RIMM:smaisastrongsupport
skil:thebreakoutisstillinshape
morn:breakoutwatch
flir:goodbuyatthispoint
pay:goodbuyatthispoint
hum:breakoutwatch
infa:smaisasupportandbreakoutinthemaking
cht:goodbreakout
syna:thebreakoutinthemaking
boom:overbouhgt,waitforpullback...[
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Finally,anupdaywithsurgingvolumn.Anshotinthearmindeed,otherwise,allthebuyerswilldisappearfromthewallstreet.
ItisespeciallyencouragingthatduringthedaytheBullsfightbackdoubtsandholdonthegain,notonce,buttwice.Thefirsthappenedaround9:30,obviosuly,somepeoplechosetodayasagetawayday,andDOWalmostfailtobeflat.Anotheronehappenedjustbeforetheclosing,peoplestilldonotwanttoholdthestockovernight(whocanblame...[
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Theherdreturnedbacktoworkinwallstreetafteralongholiday,andsodidthebadnews.Weshouldhaveknown.Wehopedlastweekthattherecouldbenonewsfromfinancialinstitutionsbecauseoftheholiday,weshouldhavethereforeinferedthatthebadnewsisforthcomingwhenpeoplereturn.
Theworldwasfineuntilsomesmartpeoplewantedtoout-smartotherpeople.Thisisparticularlytruewithfinancialworld.Almostanyingeniunityendedwithadisaster.SIVs,...[
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TheMarket,byanystandard,isbrokendown.IthasbeeninthebadshapeeversincelastFEDcut.However,mostofushasbeenaccustomedtothebuyatdipforsolongthatwefailtorealizethetrapsetbythebears.EventodaywhenDOWbreachedAugustlow,therewerestillfutileattemptstobottomfishing.Beforetheclosing,QQQQturnedgreenbrieflybeforeitnosedivedagain.Maybethebottomwillnotbereacheduntilwhenthemarketistotallyruledbythefear.
Neverthel...[
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IttrulyworththankfulthatthemarketheldabovetheAuguestlowandtheBullsmountedadramaticcomeback.Nowthat,withDOWabove13000level,andbothSMHandXLFintheoversoldterritories,maybethebargainhunterswillfinallyshowup--justlikeinblackFriday--Hopefully,theywillfindthebargaintheywantandalittlebitmore..
Giventhemarkethasdroppedsomuchinthelasttwoweeks,maybewewillfinallyseeamarketuptwodaysinarow.sothatwewillkeept...[
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Obviously,Someoneoverworkedeveninaholidayweek.Justwhenweneednonewsfromfinancial,theguyinGScutMerrillandotherwallstreetfirms.Hadtheguydonethisaquarterago,hewouldlooklikeagenienues.Isitreallywisetocutthefirmsaftertheylostmorethanaquarteroftheirvalue?Nevertheless,peopletookthenewsasanexcusetosellmorestocks.Bytheendofthesession,wearejustastonethrowawayfromtheAugustlow,maybeBearshasdeterminedtotookthem...[
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Thecomingweekisthebestwecangetrightnowforthestockmarket.itisashortenedweekduetotheThanksgiving,andmanytradersareheadingoutofthetownearly,whoeverlefttomanthebusinessisonlythecare-taker,thus,weprobablywillseevolumngeteventhinner,andthemarketstayswithinthetradingrange.
Forthefinancials,itisprobablysafetosaythatwewillnothearmorebadnewsintheweek.Becausethetopguysareoutofthetown,thelowerlevelguysdon...[
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Marketofthisweek,albeitfullofwildswings,isneverthelesslackluster.Judgingbythetradingvolumn,itseemslikemanypeopleshavetakentheirdaysoffalready.Or,collectively,themarketislost,notsurewhetherthemarketwillgoupordown.
Tomorromwemayfinallyseeasurgeonthevolumnduetotheoptionexpireation,butitprovidesmorenoisethantheactualclueaswhatmajorityofthetradersarethinking.
Overallthough,itisaveryfrustratingm...[
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