COMMENTARY
Late Day Sell-Off Brings Distribution Day
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...
Small Caps Lead the Way as Stocks Go Out Near Highs
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 too...
Stocks Lift into the Close as Volume Subsides
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...
Distribution Raises A Red Flag
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...
Traders Take a Step Back as Stocks and Volume Slide
Gold and silver continued their downward move flushing out weak hands as the dollar continued its counter-trend rally. Outside the dollar and precious metals, stocks simply enjoyed a low volume pull back with the action resembling paint drying on the wall. It was a...
Late Date Reversal as Traders Await November's Job Report
A late day reversal in front of the November jobs report has Wall Street on their toes heading into Friday's jobs number. Early going, the market got a shot from the ISM which saw its non-manufacturing sector contract showing a reading of 48.7. The contraction in...
Small Caps Lead Again as Stocks Finish off Highs
The market got spooked as the S&P 500 hit new highs, but this time we did not see a high volume turnaround. Since August when the market hits new highs we have been witness to high volume reversals. It wasn't in the cards to day as volume was lower across the...
Longs Are Still Killing It (Except One)
I love to hear all the bad talk about this market when my longs are KILLLLLING it. Thanks talking heads! You are ensuring the rally continues. How about that Dubai situation? HA!
Institutional Surge Sparks End of Day Rally
Friday’s shortened session provided fireworks, but Monday’s morning session showed traders were hung-over from the festivities. It appeared institutions were simply stepping aside during the morning as traders were dumping holdings from Friday’s move. Another low...
The Pullback Is Just That, For Now; Wait For Lower Lows And Lower Highs And Volume
A lot of people sure are tripping-out over FRI's session. However, I can't stress enough that all major selloffs start after already having a series of lower highs and lower lows. If you do not believe me you can go check your own charts of every market decline...
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