by Big Wave Trader | Oct 6, 2009
Without any major economic news stocks opened the day gapping higher setting a positive tone for the day. The US dollar ran into trouble sending precious metals higher on the day. Gold and silver had been consolidating its move higher in August and quite nicely. ...
by Big Wave Trader | Oct 5, 2009
From the get-go traders pushed stocks higher aided by a positive ISM non-manufacturing report showing a wee bit of growth. Institutions sat mostly on the sidelines as volume was lower than Friday’s trade. However, some leading stocks enjoyed excellent price...
by Big Wave Trader | Oct 4, 2009
A quick note on this market. Our major market averages on Friday tested their respective 50dma and their major uptrend lines. Friday’s job report was another grim reminder our economy still faces a terrible challenges ahead. Volume slid throughout the day as...
by Big Wave Trader | Oct 1, 2009
Sellers were out in full force throughout much of the day as stocks were sold without a thought. Yesterday’s rebound from the lows appeared to be accumulation off the bottom. Rebounds with volume off the lows is a sign of strength, but today we saw that...
by Big Wave Trader | Sep 30, 2009
It was another story of the morning pop being sold and the market finding support. Even with a positive revision to the second quarter GDP traders chose to focus on a negative report from Chicago’ Purchasing Managers. Stocks were sold off in panic fashion,...
by Big Wave Trader | Sep 29, 2009
A positive Case-Shiller report helped stocks run at the open as volume surged into the market. The higher volume wasn’t a surprise given Monday’s Jewish holiday. Stocks were hit a blow when Consumer Confidence came in lower than expected with a reading...
