We’ve got a couple of economic reports due in the first 30 minutes so I’ll wait until after 10:00 to make any moves. (Mich Sentiment- Rev will be released at approx 9:45am est; Chicago PMI approx 10am est)
Currently holding:
I don’t think I’ve seen a day with more gyrations on terrorism news. Just after 2:00 the FBI warned of possible threats in Cali and New Mexico and the market sold off. Then at 3:19 there was news of Pakistan capturing a ‘most wanted’ Qaeda member, which gave the market a little bump. [...]
Update: Interesting that KKD made my short list last night and just now there’s an announcement of an SEC investigation. It’s almost as if the chart knew that was coming.
Currently holding:
I won’t be making any posts the next two days unless something major happens. I’ve got some errands to run (renewing my car registration, do some work on the money pit, etc.) today and I’m going to try to chill and enjoy my birthday tomorrow. Perhaps we’ll get a big rally now that [...]
Here are some charts illustrating some of the levels I talked about in the last post:
The market’s in nose-dive mode once again. I’m watching the QQQ, which just broke through the support of its March lows (at 34) and is falling hard at the moment. The NASDAQ is getting closer to the bottom of its channel, which is now approximately 1825. Could this be the big give [...]
Once again there were several stocks with nice setups that I had to scratch due to impending earnings reports. I’ll keep an eye on them and maybe catch a couple of them on the other side of the reports.
This will likely be the big news of the day: Google Sets IPO Between $108-$135 [...]
Well the ugliness continues and I’m glad that I didn’t jump the gun yesterday and get long. You can see why I don’t like to (swing) trade during earnings season. Company X can release some news overnight that can just chop you to bits the next day. This earnings season is reminding [...]
Literally half of the stocks that were on my list of long candidates have earnings reports due out next week, so I’ve scratched them. It’s just as well since Microsoft is weighing the market down this morning.
Currently holding:
I think we may have had some capitulation by the bulls over the last two days. Or more specifically during yesterday afternoon and this morning. This morning people were dumping stocks indiscriminately. Even stocks that had good earnings news were down 5 to 10% this morning. And that’s after selling [...]
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