by Big Wave Trader | Dec 17, 2009
Heavy trading in Citigroup dwarfs the market as we are reminded we are in a shaky market. The NASDAQ and S&P 500 closed just off their lows of the session suggesting very little support for the indexes. Citigroup certainly skewed volume, but with the amount of...
by Big Wave Trader | Dec 16, 2009
Stocks finished near session lows as the Federal Reserve policy statement failed to inspire buyers. S&P 50 and NASDAQ ended the day near but off their lows. Small caps on the other hand finished much stronger. Volume on the NYSE slid on the day while NASDAQ...
by Big Wave Trader | Dec 15, 2009
Inflation data along with news Wells Fargo paying back its share of the TARP set the tone early on. Producer prices rose higher than expected sending a bit of fear into traders as early morning trade reflected a fear trade. Bucking the trend was Wells Fargo, but it...
by Big Wave Trader | Dec 14, 2009
Pre-market futures got a lift when Abu Dhabi announced its $10billion bailout for Dubai World. The bailout set the tone for much of the morning’s session as stocks were able to find bids as well as volume. It was important for the market to find volume and not...
by Big Wave Trader | Dec 9, 2009
Although the late day push into the close was a nice touch added at the end of the day the lack of volume highlights the lack of conviction. Precious metals and the dollar were once again near the top of the headlines, but the continued decline in oil prices keeps...
by Big Wave Trader | Dec 8, 2009
The market has piled another day of distribution. Precious metals, oil, and the dollar mixed it up causing the market to come under selling pressure. Crude Oil slid further as the dollar rose sending oil services and drillers to the downside. More concerning is the...
