It was about time we saw the market close lower on heavy volume. At one point the Dow Jones Industrial Average was up more than 155 points. The market was clearly focused in on Ben Bernanke’s testimony and prepared comments then it would turn its attention to the release of the Fed’s meeting minutes. Hints [...]
Turnaround Tuesday lives up to its name as the Dow leads the Market higher
Posted on May 21, 2013 // Leave a Comment
Void of economic releases the market did get showered with more than $3 billion in asset purchases from the Federal Reserve. A hiccup in the morning was quickly support as the Federal Reserve Open Market Operations flooded the market with fresh new cash. Over Europe the DAX closed in the green for the 11th straight [...]
In a rare move Stocks end lower; Gold and Silver find their Footing
Posted on May 20, 2013 // Leave a Comment
Heading into the week the US market once again watched the Nikkei continue to move further into the stratosphere. Futures were pretty anemic heading into the trading session today. Overnight news focused on the plunge in precious metals as Silver and Gold were hit hard. Despite the negative open and sentiment both precious metals were [...]
Big Wave Trading Portfolio Update And Top Current Holdings
Posted on May 19, 2013 // Leave a Comment
The Big Wave Trading Portfolio remains under a BUY signal and currently has zero issues weighing on it presently. On the short-term the market is very extended in price compared to trailing key moving averages. Logic dictates that a natural pullback to some form of support levels (fibonacci, price lows, or a moving average) should [...]
The Market hits the breaks Ends Lower
Posted on May 17, 2013 // Leave a Comment
The morning did not get off to a great start with disappointing economic data hitting the market. Weak jobless claims and a Philadelphia Fed manufacturing index showed how disappointing the economy continues to be. By mid-day it appeared the market simply didn’t care too much about the weak economic data. Just as new highs were [...]
$TSLA – Offering a place to Take Profits this morning
Posted on May 16, 2013 // Leave a Comment
TSLA move this morning certainly gives longs a place to take profits off the table. The stock can continue to push higher, but this morning’s pop is a great place to book gains. Solid run.
Another Day of Gains as AAPL Drops; CSCO Surges in After-Hours
Posted on May 16, 2013 // Leave a Comment
A late day rally helps push the markets higher as volume expands across the board. AAPL and GOOG have completely gone in different directions as GOOG hit a new high as AAPL dropped below its 50 day moving average. Many will search for the “why” AAPL dropped, but all that matters is that it did [...]
Turnaround Tuesday Sends Stocks Higher as Trading Volume Jumps
Posted on May 15, 2013 // Leave a Comment
The Dow closed higher on Tuesday for the 18th straight week moving higher by more than 100 points. Leading the market higher was the Russell 2000 jumping more than 1.25%. S&P 500 gained more than 1% while the NASDAQ lagged finishing higher by .69%. Surprisingly the VIX jumped more than 1.75% outpacing the S&P 500. [...]
Market Pundits Debate the end of QE while Stocks Close Mixed
Posted on May 14, 2013 // Leave a Comment
A better than expected seasonally adjusted retail sales figure helped push futures off their lows prior to the market open. Volume was lower on the session staying true to form as far as Monday trading sessions go. The market did not get the benefit of POMO today, but tomorrow we’ll get up to 3 billion [...]
Russell 2000 Escapes with Gains as the Market Finishes well off its Lows of the Session
It all began in Japan where the Nikkei hit an all-time high only to end its day lower down by more than 7%. Selling swept the globe where Europe was hit hard, but it was the United States market to see some resiliency. A better than expected Jobless Claims figure did help the mood, but [...]