COMMENTARY
Fed Chief Says No to QE and Stocks Respond by Closing Lower
Leading up to the Federal Reserve rate annoucement was the big story was the software glitch hit by Knight Capital. Gigantic volume struck the NYSE causing very erratic trading in nearly 150 stocks. Just when confidence in the stock market is grim we get another flash...
For the Second Straight Day Stock Pull Back Ahead of FOMC Announcement
The day kicked off with decent economic numbers as well as consumer confidence figures. The Chicago PMI was better than expected and after a bout of disappointing economic releases last month. This was a bit of good news albeit not great. However, stocks weren’t able...
Stocks Take a Step Back in Quiet Session
For the 9th Monday in a row the market closes lower on very light volume. After Thursday and Friday’s trading sessions today’s pullback is a welcomed sign and a very bullish one. The Russell 2000 led the decline with the NASDAQ not far behind with losses of .56% and...
Big Wave Trading Portfolio Update And Top Current Holdings
Big Wave Trading remained under a NEUTRAL condition all week, until Friday. The NEUTRAL condition changed around 1:15pm EST when the market blasted higher following an already strong uptrend throughout the day. The move on Friday was more than 2% on the Nasdaq and...
Its Quantitative Easing or Bust
It is quite clear the market is waiting for the world’s central banks to print more money. Futures were heading lower along with European markets when the ECB’s Draghi issued comments about saving the EURO at all costs. Translation: they will print EUROs. The stock...
Industrials Lead the Market on the Backs of BA and CAT
Stocks end the day on a sour note with action dominated by reaction to earnings. Economic news from new home sales did not help matters, but dip buyers were on the prowl. BA and CAT helped the Dow Jones Industrial Average lead the way while AAPL weighed on the...
Stocks Fall on Higher Volume; AAPL Dives after Reporting Earnings
A terrible Richmond Federal Reserve Manufacturing index reading helped set a negative ton for the market. Volume jumped on the day as turnover picked up as sellers gained control over the market. Volatility jumped as fear appears to be settling into the market, but...
Stocks Battle Back from Heft Losses, but Close Lower
Europe is at it again. Fears over a depression in Greece and Spain’s possible need of a full bailout helped spark fears over a European Union breakout. Right out of the gate sellers began to dump stock. However, before the first 30 minutes of trading were completed...
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...
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