The market was able to withstand an attempted afternoon sell off today and closed on its highs for a change. Today’s action had the major indices all closing at 6 day closing highs. Additionally the Dow and S&P 500 were able to close above the intraday resistance of the last three sessions. [...]
A quick comment on this morning’s action plus some links
Worden has an indicator called T2108 which plots the percentage of stocks above their 40-day moving averages. In effect it works as an overbought/oversold indicator for the market. This is an indicator that Duru and I like to check when we get strong moves in the market. I was just instant messaging [...]
Well we finally got some follow through, although I suspect it was in the opposite direction than most people wanted to see. And that’s exactly why I think it’s necessary for the market to break down. There’s still a good amount of complacency that needs to be wiped out. (Easy for me [...]
For the third day in a row the market has tried to rally early only to succumb to selling late in the session. The action is best seen on the Nasdaq which failed at its 200-day moving average and at the 2,000 level again.
It’s starting to feel like the calm before the storm as [...]
Nvidia sure is a popular stock — I seem to get a request for it every other week. My outlook on it hasn’t changed much since the last time I drew it up. It’s showing great relative strength vs. the Nasdaq but it’s real close to breaking its intermediate uptrend. NVDA looks [...]
The Nasdaq failed at its 200-day moving average and at 2,000 during the last two trading sessions. I think that a close above 2,000 will be very important in bringing out more buyers. The market’s still very oversold and set to gap up this morning. That sounds like a deadly combination for the [...]
Jim Cramer’s posting his ‘25 Investing Rules’ as part of a promo for his new book ‘Jim Cramer’s Real Money: Sane Investing in an Insane World’. So far 13 of the rules are up and he’ll be adding one more each day. The rules aren’t anything earth shattering but it never hurts to [...]
I was just asked what happened to my daily watchlist posts. Since I’m not doing any swing trading right now I don’t see much point in posting stocks that I’m not going to actually consider trading. The swing picks will be back when I get back into swing trading mode. But with [...]
Mike, who’s looking to mix in some technical analysis (TA) with his fundamental analysis (FA), sent the following:
Just getting into “trading”, having been “investing” longer term in value stocks for the last few years.
My value stock mentor (he has averaged over 17% per year for years and years) looks for solid companies that for [...]
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