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Stocks Race off the Lows as European Bank Recapitalization Rumors Fuel Rally

By Big_Wave_Trader on May 23, 2012

A better than expected new home sales failed to spark a rally in the markets as traders turned once again to the European situation as a reason to sell the market. Sellers were in control for much of the day as the European situation remains dire. In particular is the situation going on in Greece [...]

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AAPL Leaps 5% as Stocks Rebound from Tremendous Selling Pressure

By Big_Wave_Trader on May 21, 2012

AAPL and PCLN help the NASDAQ push higher as FB drops hard on its second day trading on the NASDAQ. Volume on the day was considerably lower than Friday’s level, but Friday we did have options expiry skewing volume. Today’s bounce was not a surprise to many as the oversold conditions in the market had [...]

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Big Wave Trading Portfolio Update And Top Current Holdings

By Josh Hayes on May 19, 2012

“I did not for one moment consider abandoning my chief defensive weapon—the stop-loss order. No matter how well built your house is, you would not think of forgetting to insure it against fire.” -Nicolas Darvas “Remember, the market is designed to fool most of the people most of the time. Sometimes, the market will go [...]

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AAPL Falls as Buyers Continue to Stay Away from the Market

By Big_Wave_Trader on May 17, 2012

Disappointing Philadelphia Fed and jobless claims figures help set a negative tone for the day. Europe continues to dominate the fear index and FB continues to dominate CNBC’s content lineup. The true story of the day was at the end of the day with sellers taking it to the market. AAPL was a large part [...]

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Stocks Fall Again As FOMC Meeting Minutes Fail to Inspire

By Big_Wave_Trader on May 16, 2012

Once again stocks were able to find footing in the middle part of the day, but fail to hold the highs. A few more FOMC members are open to more quantitative easing it wasn’t enough to help the market push back into the highs. Of course we still have the mess going on in Europe, [...]

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Surprise Greece unable to form Government Sending Stocks Lower

By Big_Wave_Trader on May 15, 2012

The only positive news on today’s session was the fact homebuilders are most optimistic in five years. Even Empire manufacturing ticked higher than expect, but the market was unable to take its eyes off the situation going on in Europe. For the second straight day the intraday rally was faded and during the final hour [...]

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Stocks Sink as the European Breakup Fears Grow

By Big_Wave_Trader on May 14, 2012

The market got a double dose of bad news as Greece inches closer to a Euro exit and Italian short-term bond yields jump. Volume rose on the NYSE by a small fraction, but fell over on the NASDAQ. Italian CDS along with Spanish CDS jumped on the day as yields rose for both countries. Traders [...]

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Big Wave Trading Portfolio Update And Top Current Holdings

By Josh Hayes on May 12, 2012

To anticipate the market is to gamble. To be patient and react only when the market gives the signal is to speculate. — Jesse Livermore “Every once in a while you must go to cash, take a break, take a vacation. Don’t try to play the market all the time. It can’t be done, too [...]

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CSCO and PCLN Weigh on the NASDAQ as Stocks Stage a Lackluster Session

By Big_Wave_Trader on May 11, 2012

The story of the day was CSCO and its reaction to its earnings release. PCLN didn’t’ fare well either as earnings disappoints. A slightly better than expected jobless claims figure helped the market in the early going, but the market quickly turned to sloppy trade just after the open. Volume was helped out by CSCO [...]

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CSCO Face Plants in After-Hours after Stocks Reverse to the Upside for the Second Day in a Row

By Big_Wave_Trader on May 9, 2012

John Chambers the CEO tells it like it is and unfortunately for those long CSCO paid the price today as the stock was down more than 8%. Once again, for the second day in a row stocks found themselves support at the day’s low. The S&P 500 briefly breached Tuesday’s low, but the NASDAQ was [...]

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