by Big Wave Trader | Jun 13, 2013
Despite the Nikkei’s 6% drop overnight US stocks were able to find buyers pushing Major Market Averages higher by more than 1.2%. The Dow snapped its first 3 day losing streak of the year. S&P 500 tried to close above yesterday’s high, but stopped short. Overall,...
by Big Wave Trader | Jun 12, 2013 |
An early morning gap higher on a big turn around in the Nikkei quickly faded into a sellers’ paradise. This market was trading without any excuses from an economic standpoint. We’ll wait for tomorrow’s release of retail sales and initial jobless claims. This market is...
by Big Wave Trader | Jun 11, 2013 |
Failure of the Bank of Japan to signal even more stimulus sent the world markets into a selling frenzy. Initially, buyers were able to push the market well off its low and at one point pushing the Dow into positive territory twice! A weak 3 year Treasury note auction...
by Big Wave Trader | Jun 10, 2013
A very uninspiring day as the market digested gains spawned from a two day rally to close out last week’s trading. Volume ended the session lower across the board. Typical for a Monday in this market as traders await Turnaround Tuesday. Homebuilders were exceptional...
by Big Wave Trader | Jun 9, 2013
The Big Wave Trading Portfolio remains under a NEUTRAL condition but did see the model switch to a cosmetic-SELL mode on Wednesday only to be flipped right back to NEUTRAL on Friday. This quick flip-flip was not shocking on a discretionary basis as the signal...
by Big Wave Trader | Jun 6, 2013
The US Dollar took a plunge during the session, but the move failed to keep stocks down for long. By early afternoon the stock market found its footing and pushed higher closing at its highs for the session. Volume rose on the NYSE, but fell on the NASDAQ....
