March 2006 Archives

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500:

There are some interesting gappers below but it's Fed decision day, so I'll be staying out of the fray. Good luck to those of you who are trading today...

Potential swing trades:

It's time again for Trader Monthly magazine to reveal their list of 2005's highest earning traders.

Not only did each of our top two earners, T. Boone Pickens and Stevie Cohen, score estimated compensation figures north of $1 billion -- a first -- but this time, even the low-rent hedgehogs needed $40 million to make the cut. And to think conventional wisdom holds that hedge-fund managers under-performed last year. Hardly.

On Wall Street, some of the scores were gargantuan, as bulge-bracket banks enjoyed one of the most profitable years in the history of the markets, from asset-backed to credit and crude to crack spreads.

(Personally I'd like to see the list broken into percentage returns. Sure making (or getting paid) a billion is impressive but if you were working with 10 or 20 billion to start it's less impressive. I want to see the folks who made a million trading with $100,000. But that's just me...)

Once again they're revealing the list over the course of a week. Here's what's up so far (Free subscription required for all articles):

Monday: Top 10

Tuesday: The Top Hedge-Fund Traders

Wednesday: The Top Wall Street Traders

Thursday: The Best of the Rest

Friday: The Top Up-and-Comers

It looks like we're set for a modest gap up this morning but I'm not expecting much follow-through given that there's a Fed decision tomorrow. My wallet is likely to remain on my hip (as Art Cashin would say) until Wednesday...

There were a handful of charts that grabbed my eye over the weekend, namely -- NWRE, GOL, INFA, ISE, BBD, UBB, and SHLD. I may pick up a couple of those for my long term account.

Here's my take on the indices:

Potential swing trades:

The QQQQ has started creeping higher over the last few minutes. Looks like somebody's trying to get a head start on the quarter-end mark-ups.

Potential swing trades:

More chop today but what else is new? The Dow, which has been especially helter skelter since the Fed decision, seems to have a magnetic attraction to 11,150. It needs to stay above that level (area) to keep its breakout intact. The S&P is also not far from invalidating its breakout. Can month-end mark-ups save the day? Stay tuned...

In addition to the charts of the Nasdaq, S&P 500 and Dow, there are charts of DexCom Inc. (DXCM) and VistaPrint Limited (VPRT) below:

Looks like a pretty flat opening today. I'll be watching for a break of the opening range as my trigger to jump in.

On another note, Roger is so right about CNBC and their coverage of this Gradient / Biovail, independent analysis issue. I barely watch the channel and even I can't take it any more. What a waste of time and energy. Maybe some day they'll cover things that can actually make people money. (I'm starting to sound like Cramer...)

Roger's also on point about the stuff Charlie Gasparino's been covering since day 1 on CNBC. Somebody make it stop!

OK, back to the trading... :-)

Potential swing trades:

Like I said yesterday, I don't like to make too much out of the initial Fed reaction. Yesterday's action turned out to be a bear trap as the bulls came roaring back today. They were able to push the Nasdaq (of all things!) to new 5-year highs while the S&P merely regained what it lost yesterday. The key now, especially for the S&P and Dow, is to see whether they can get any follow-through on today's reversal.

Charts of the Nasdaq, S&P 500 and Apple Computer (AAPL) are below:

I guess I'm hip to the game after so many years of watching the markets. The other day, when GOOG was rallying on the news of their S&P 500 addition I half-jokingly IM'ed to Duru something along the lines of:

This would be a great time for them to do another secondary. "You want shares? Here, take all you want..."

Well look at what just crossed the wires:

17:16 GOOG Google files 5.3 mln share registration statement (394.98 +17.78) -Update-

Who would have thunk it??? :-) That should be a nice relief for the ~20 million shares that indexers will have to buy.

We're getting a little bounce from yesterday's selling. I'd like to see the S&P close above its old trading range (above the 1296 area) so I'll be watching the action around that level.

Also, it's Wednesday so stay on your toes for the oil inventory report at 10:30...

Potential swing trades:

I hate to make too much out of the initial Fed reaction but it's hard to understate today's reaction. It often seems to take a couple of days for the market to fully digest the Fed's actions / statements and that may prove to be the case this time. But the initial reaction is that the market clearly didn't like the prospect of even more rate increases.

It should be no surprise that today's action created a lot of bearish patterns in the charts. I'm seeing many shooting stars and bearish engulfing patterns tonight. So I'll probably have a nice long list of potential shorts in the morning (OXPS, for one, is looking ripe as it fades from its 50-day moving average). Probably the most troubling thing I see is the S&P 500 dropping back into its old trading range. That very well may embolden / motivate sellers. As always, we'll see...

Here are charts of the Nasdaq and S&P 500: