MarketInGeneral
Likeanoceanwave,themarketwillebbandflow,andtodayitretreated.Hopefully,notmanypeoplearelefthighanddry.
TheostensiblereasonwasadowngradeofmanystocksinsidesemiconductorsectorfromananalystofMorganStanley,buttherearemaybemorethanwhatmeetstheeye.
Manytechstocks,thestarperformeroflate,weredowntoday,SMHwashitextremelyhard,buttheretailers,homebuildersareallupsubstantially.So,thi...[
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NYSENASDAQ
Advances1,882(56%)1,758(57%)Declines1,352(40%)1,212(39%)Unchanged114(3%)127(4%)UpVol*1,753(56%)1,122(62%)DownVol*1,337(43%)653(36%)Unch.Vol*23(1%)21(1%)NewHi's180192NewLo's6061
Itisadowndayifyoujustreadtheheadline,ifyoureadalittlemoreintothedetail,itishardtotell.Foronething,therearemorestocksupinbothNYSEandNASDAQ.andtherearemorestocksmakingnewhighsthanfreshlows.Ifthisisadownday,...[
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Ok,happytimecomesquickerthanwethought,whatpromptthisisamystery,butwhatitmanifectsisclear.Themarketisstrongerthanpeoplewouldliketogivecreditto,anditisthebullwhoisinfirmcontrol,forthetimebeingatleast.
Willthisbethetopofthemarket?willthisisthereplayofthemarkettouchingitsbottom,aquickreverseandasharpV?
Forwhatitworth,hereismy2cents.
Forthenearterm(meaningthisweekatleast),thereseemsmoreroom...[
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Itseemslikesecondhalfofthegameisalwaysbetterthanthefirsthalf,andforthquarterturnsouttobesweeterthanthethirdquarter.Thatcanbesaidofcowboy'sgameinthisyoungfootballseason.Canitbesaidtothestockmarketaswell?
Manypeopleshouldbeverygladthatthethirdquarterisbehindthem,andwhataquarteritwas!theDOWreachedalltimehighandthendroped10%andthenbackagainduringthequarter.Itcertainlycouldbeworse,butthematteroffac...[
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Forthefirsttimeoftheweek,Markethesitated.
Itishardtotellwhethertherearemorebuyersthansellersorviceversa,thevolumeisdryingup.Maybethebigguysofwallstreetiswaittingforsomething,maybemoreconfirmationofFEDfutureaction?moresignsthateconomyischagingalong,ortheanxietyoftheforthcomingearningseason.
Tomorrow,therewillbemoreeconomicdatatodigestbutitmaynotmatterasmostofthetealeavereadersbasicallytreat...[
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Market,whenmadeitsmind,reactselectivelytothenews.
Ononehand,wehavebaddurablegoodsorder,ontheotherhand,wehaveGMreachthedealwithUAW,andthemarketchoosetoignoretheformerandracetothehighrespondingtothelater.
However,today'stradingisalittledifferentfromseveraldaysago,severalhighfliersturnedlowerandsomelaggingstocksgetpushedhigher.Itseemslikethatsomepeoplemadeenoughmoneyandchosetocashoutinastrong...[
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Atbeginningoftheday,youwouldthinkthebearisroaringback,andwithalotofamunitionsinitspawn.Consumerconfidenceisdown,existinghomesaleslowestinseveralyears.andespecially,TargetandLowewarnedthelowersaleon3q.Nothingcanbeworsethanthese.Thisisbecauseconsumerspendinghasbeenthedrivingforceforthecurrentbullmarket,thebiggestconcernwithhousingbubblewasthesaggingspiritoftheconsumers.ThelowersalefromTGTandLOWEconf...[
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PeterLynchonceobservedthatMondayarethedaysthatthestockgoesdownmost.Thereason,ashesurmised,isthatpeopleareover-thinkingduringtheweekend.BeingthesagaasPeterLynchis,hisobservationringssotruesometimes,liketoday.Duringtheweekend,therearealotofpresstalkingaboutrecession,inflationetc,so,itisnowondertoday'smarketfeelssolistless.Thelosswassmall,andvolumndroppedquitebit.
IskippedFriday'sblog,onereasonis...[
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Ok,thestockdroppedtodayasexpected,butthevelocityandferocityarenowheretosee.Itlooksmorelikeaprofittakingmorethananythingelse,ifyoucanget5%returnwithoutbreakingasweatin2days,taketheprofit.Afewdayslikepasttwodaysinayear,youcanbeatWarrenBuffet.Plus,tomorrowistheoptionexpirationday,so,nosurpriesehere,eventomorrowcouldbechoppytoo...
Butthematteroffactisthatthebullishavingauphand,betweennowtoOctober,...[
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Really,otherthanOJ'snews,therearehardlyanythingworthtomentionfortoday...themorningafterwasasgoodasthenightbefore.notbad.Alough,welostalittlemomentumattheendoftrading,butthatwasexpected,thehoneymooninwallstreetisalittleshorterthanmostnewlyweds.Wemayevenseeadowndaytomorrow,whoknows,butthebullisinfirmcontrolforsure.
Ifyoufeelthemarketgetbacktothisleveltooquick,andthepriceofsomestocksaretoohightoj...[
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