COMMENTARY
Big Wave Trading Portfolio Update And Top Current Holdings
"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 size as long as I'm...
NASDAQ 100 Carries the Market Higher Despite Disappointing Manufacturing Data and Jobless Claims
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...
Stocks Add to Tuesday’s Gains as Volume Ends Higher
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...
Fed Chief Does not Signal QE3, but the Market Disagrees
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...
Retail Sales Disappoint as Tensions in the Middle East Grow
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...
Big Wave Trading Portfolio Update And Top Current Holdings
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...
Stocks Have a Wild Ride Close Lower
Earnings season has not been kind to stocks and it kicked started the market to the downside. Europe’s markets were selling off as the EURUSD fell below 1.22. Selling was intense, but backed off as buyers stepped up. The NASDAQ sliced through its 50 day moving average...
Energy and Financials Hold up the S&P 500
The S&P 500 and the NASDAQ are barely hanging onto their respective 50 day moving average as the Federal Reserve meeting minutes fail to spark buyers or sellers from jumping in with both feet. Crude oil was the big story on the day with the commodity jumping more than...
Volume Jumps as Leading Stocks Slump
A big distribution day strikes the market, but the real story is how leading stocks fared in today’s session. While we can focus on INTC, AA, or CSCO the real story is how leading stocks acted today and what they are foreshadowing. Distribution days happen in uptrends...
AAPL Keeps the NASDAQ Afloat as the Market Aways Earnings Season
Coming off a holiday week stocks ended slightly in the red with volume coming in higher across the board. The Dow Jones industrial average along with the NYSE composite both notched distribution days, but the NASDAQ and S&P 500 skirted distribution. AAPL was certainly...
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