Volume picked up today on the Dow and S&P 500, but it was another flat day. The bulls tried hard to get the market up today. CNBC keeps harping on how important it is for the Dow to close above 8,521. A close above that level would make a higher high on [...]
Thanks to Chas for pointing me to Elite Trader. I’ve just started poking around over there, and it looks like a great resource.
The market is set to open flat this morning. I’m not expecting much movement until after Greenspan starts speaking at 10:00. Then it’ll take another 30 minutes for people to decipher what he said.
Despite that violent reversal this morning, the buyers were able to support the market throughout the afternoon. There was one last burst of buying in an attempt to get the Dow to close above 8,521, its March high. That attempt ultimately failed. On the positive side, the NASDAQ closed at a [...]
A wild morning so far. The Dow has already made a 100 point reversal off of its highs. It may be tough for the bulls to get the market higher after such a reversal. After all is said and done, we’re still just marking time.
The market backed off a bit yesterday afternoon the instant that the Dow touched 8,500. It appears that the Dow is just bouncing between its 200 DMA and 8,500, which is its ‘war rally’ highs. The Dow is still trying to accomplish what the NASDAQ and S&P have already done — surpass its [...]
Someone really wants this market to go higher. Today’s action seems like another short squeeze (aka panic buying) to me. CNBC reported today that short interest is at all-time highs right now! I’m trying to hold on to my short positions to see if this reverses in the last hour.
The market continues to provide opportunities for both bulls and bears. Last week was a perfect example of that. If one’s timing was right, he could have made money playing both sides. Of course, the opposite is also true! Despite all the mixed messages the market is sending, I remain bullish [...]
The LA TImes has a couple of interesting articles in today’s edition (free registration required). The first is about Kobe’s estrangement from his father — over Kobe’s choice of his wife. The second is about Kobe and Shaq refocusing to win their current series.
Tip-off in 30 minutes!
Looks like the TImes has archived off [...]
I’ve yet to go through my charts this weekend, but I just found a good review of this week’s action. Note that Active Trader Magazine also has other commentary under their Market Commentary menu.
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