by Big Wave Trader | Jan 24, 2014
Pundits are blaming today’s move on a disappointing manufacturing piece of data out of China last night. China’s PMI dropped below the 50 level marking a contraction in manufacturing when the sector was expected to expand. Selling started early and Chinese related...
by Big Wave Trader | Jan 22, 2014 |
Economic data continues to be on the lighter side of things as the only release was MBA’s weekly release of mortgage applications. They rose 4.7% week-over-week after rising last week by 11.9%. Market participants were busy mulling over IBM’s earnings release and it...
by Big Wave Trader | Jan 21, 2014
US markets came off a long-weekend and moved higher after the Martin Luther King Jr. holiday. The Dow was the only exception on the day lead by IBM, JNJ, and TRV to the downside. Volume continues not to matter, but we’ll give today’s session a pass as Friday’s...
by Big Wave Trader | Jan 19, 2014
The Big Wave Trading Portfolios remain under a BUY condition across the board with very little weighing on our model. The only problems we see with the current rally is that we still have not rallied enough into new high ground to completely remove the previous...
by Big Wave Trader | Jan 16, 2014
Outside of the Dow’s loss the market was relatively quiet pricewise as the prior two day’s worth of gains are digested. We did get a few breakdowns from NUS, HLF, and BBY. However, the overall market settled nicely into a tighter than normal day’s range. Volume was...
by Big Wave Trader | Jan 16, 2014
A strong move today as price and volume moved in unison. It was a powerful move simply because we cleared the way for a new high in higher volume. After Monday’s session yesterday and today’s session has completely rendered Monday’s selling meaningless. While the...
