COMMENTARY
A Wild Day on Wall Street As Stocks Reverse from Highs; Model Switches To NEUTRAL
A surprise move by the ECB by cutting rates helped push US stocks higher for the early part of the session. The surprise move buried the EURO with EURUSD plunging to lows not seen since July of 2013. By mid-morning the steam had run from the market and the highs...
AAPL Exposed to Selling; Beige Book Fails to Inspire
Small Caps and the NASDAQ 100 led the market lower today after solid gains yesterday. The news regarding the Celebrity Nude scandal finally go to AAPL as traders were using the excuse as the stock sold off in heavy volume. Volume on the NYSE ran lower on the...
Small Caps Rally; NASDAQ Volume Explodes
The stock market welcomed back traders with a dull day, but big time volume. On the bright side we did have the NASDAQ and Russell 2000 pushed higher. Institutions were back from summer vacation in a big way as volume jumped well over Friday’s level. Aside from the...
Big Wave Trading Portfolio Update
I hope everyone had a wonderful Labor Day weekend. All of our models are under BUY conditions and our portfolio remains fully invested with a very tiny hedge that was added on Friday due to the short and intermediate term overbought conditions. If the rally continues,...
GDP Blows Past Estimates; Stocks Pullback in Light Trade
The big story to start the session was the big upward revision of the second quarter GDP. Expectations were for the second quarter to have grown at 3.9% annualized rate, but revisions were well past that at 4.2%. The revision was great news for the economy, right? ...
S&P 500 Inches Higher as Volume on Exchanges Drop
A late afternoon selling hiccup just before the final hour was just about all the excitement for the day. Early morning selling kicked us off and it too found support, but with volume so low it really cannot be chalked up to institutions rushing in to support...
Russell 2000 Leads the Market Higher; S&P 500 Sets another All-time High
Small caps joined the party as the Russell 2000 index led all major indexes higher. It was a good sign to see the small capitalization stocks join the party. Durable goods blasted higher, but it was solely due to Boeing. Home prices stumbled with the Case-Shiller...
Last Week of Summer Kicks off with New Highs
The S&P 500 failed to hang on to 2000, but it still closed in all-time highs. Over on the NASDAQ the index hit a 14 ½ year high. Volume on the NASDAQ was higher, but lower on the NYSE. IWM remains well below its all-time high and has a bit of work in order to...
Big Wave Trading Portfolio Update And Top Current Holdings
It's is vacation time on Wall Street as volume came in below average all week long. As is normally the case when volume is below average, stocks melted up with leading stocks (based on RS ratings) shining the brightest. The Nasdaq and Nasdaq 100 remain under a BUY...
S&P 500 Notches another All-Time High; NASDAQ at Decade Highs
The market continues to inch higher into new high territory. Volume ended mixed on the session with the NYSE turnover higher while NASDAQ pulled in. It is hard to argue with a market hitting an all-time high on higher volume. Market pundits certainly can find...
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