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. [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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 [...]
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