Economic news was not good this morning, with the Philly Fed showing manufacturing contracting and jobless claims contracting much more than expected. Initially the market did sell off on the news but buyers jumped back into the market pushing the NASDAQ back to intraday highs just after noon time. Early afternoon selling, once again, was [...]
NASDAQ 100 Carries the Market Higher Despite Disappointing Manufacturing Data and Jobless Claims
Posted on July 19, 2012 // Leave a Comment
Stocks Add to Tuesday’s Gains as Volume Ends Higher
Posted on July 18, 2012 // Leave a Comment
For the second straight day, Ben Bernanke testified in front of the house and stocks pushed higher. Housing data was a bit better than expected, aside from building permits. However, a few home building stocks like HOV and PHM did not agree. INTC lead the semi-conducting stocks and the rest of the technology sector higher. [...]
Traders Shrug off Sluggish Economic News and Earthquake and Close Higher on Volume
Posted on August 23, 2011 // Leave a Comment
Futures looked mighty chipper to begin the day. Early morning trading saw sellers take control right off the bat, but the party would not last long for sellers. Shrugging off dismal numbers from New Home sales and a very disappointing reading from the Richmond Fed Manufacturing index, stocks moved higher. Volume run rates weren’t all [...]
Stocks Fly Out of the Gate, but Fade Significantly into the Close
Posted on August 22, 2011 // Leave a Comment
On the back of the Libya news stocks jumped higher out of the gate, jumping as high as two percent. A better than expected, but still negative reading from Chicago Fed did help boost stocks at the open. Sellers took control at the open as the market could not even hold opening prices. Gold prices [...]
Stocks Fall in Light Trade as Leaders Look for Support
Posted on October 4, 2010 // Leave a Comment
Goldman downgrades MSFT as Pending Home sales fail to ignite buyers The past two Monday’s have not been kind as stocks slid in lighter trade. Goldman Sachs removed MSFT stock from its conviction buy list sending the stock lower thus, bringing down the rest of the technology sector with it. Although volume was light the [...]
NASDAQ Breaks Six Day Losing Streak; C Jumps more than 5% on Earnings
The market finally bounces from oversold conditions as volume ends mixed. Volume rose on the NYSE and NASDAQ exchanges, but SPY and QQQ volume remained light. Retail sales jumped more than expected helping set the tone early on. Sellers got the upper hand on the NASDAQ, but were quickly turned away as stocks zoomed higher [...]