by Big Wave Trader | Jul 20, 2012
“Trading is a waiting game. You sit, you wait, and you make a lot of money all at once. Profits come in bunches. The trick when going sideways between home runs is not to lose too much in between.” -Michael Covel “I’ll keep reducing my trading...
by Big Wave Trader | Jul 19, 2012
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...
by Big Wave Trader | Jul 18, 2012
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...
by Big Wave Trader | Jul 17, 2012
Despite a better than expected Housing Confidence Index it was all about the Fed Chief. Chuck Schumer said it best and it was what got the market off the lows. He basically stated that DC will not get its act together and the Federal Reserve must act. From that point...
by Big Wave Trader | Jul 16, 2012
The market was showered with very disappointing retail sales figures showing the consumer cooled quite a bit in the month of June. NYSE volumed dried up significantly, but at the same time NASDAQ volume moved nearly 6%. While the NYSE indexes escaped distribution the...
by Big Wave Trader | Jul 13, 2012 |
It was another summer-time trendless week, this past week, in the stock market. The decline on Tuesday switched our weak (10%) BUY signal to a NEUTRAL signal. The weakness that followed on Wednesday and Thursday was not enough to switch our model back to SELL as...
