Due to recent events, I probably won’t be posting for a few days. I will just say that from a quick look at the NASDAQ chart, it’s had an impressive move in price on unimpressive volume. It’s heading for the top of that downtrend channel (about 2015 today and heading down fast). [...]
I’ve added 5 new (they’re new to me) blogs to my list of stock market/trading blogs this month. Check them out.
The SOX and QQQ have been thrashing across their 200-day moving averages the last three days, and it feels like they’ve done enough testing. The NASDAQ never quite made it low enough to touch its 200 DMA, and I’ll take that as a good sign that a bounce is due. Investor types (long [...]
Linda Raschke has posted her interview from the February 2004 issue of Active Trader magazine on her site. She reveals some great tips and insights into what it takes to make it as a trader. Check it out.
(Link via MaoXian )
We’re set to gap down on geopolitical concerns in Taiwan and the Middle East. Taiwan’s market got slammed to limit down (7%) within minutes of opening due to the controversy around their recent elections and the allegedly staged assassination attempt. I have to admit that this combined with what happened in Spain is [...]
That expiration week was fun, wasn’t it? No that we’re done with that madness, I think the market is set to dip a bit lower. The SOX and NASDAQ 100 are very close to their 200-day moving averages, and I think it’s a safe bet that they will test them early this week. [...]
The NASDAQ finally had an up day on higher volume yesterday, but the Dow and S&P both rose on lower volume. We may have gotten the last bit of selling in the minutes after the Fed (non) decision, as the Naz sold off and then snapped back. Yesterday’s action created a lot of [...]
Here we go gapping up again. -sigh- I certainly don’t trust this gap since this is a Fed interest rate decision day and it’s options expiration this week. Whether the pop sticks or not, I’ll be sitting on my hands until after the Fed decision. The market continues to act poorly — [...]
Martin Goldberg has written up an excellent look at technicals of the market right now: The Stock Market Broke on Wednesday Do your self a huge favor and go read it! (hat tip to Kirk and Duru)
There seems to be no end to the selling, which means that we’re probably due for a bounce very soon. The VIX is flying high this week as the angst intensifies. We had huge volume today, so my guess is that we’ve probably reached a selling climax. I didn’t trust the [...]
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