Archive for August, 2009
Bulls Take Charge - 3 Back-to-Back Reversals from Early Lows Shows Strength!
Volatility returned this week as trading volumes declined. Traders are searching for a catalyst in this directionless market and minor news events are having an exaggerated affect. The bottom line is that bulls still have the upper hand. Earnings have been better than expected, interest rates are declining and the economic data is “less bad”. Over 70% of all companies have exceeded earnings estimates. In Q3 and Q4, the comps will get much easier and we will see considerable earnings growth. Last week, the FOMC extended the timeline for quantitative easing and they are committed to keeping interest rates low. New …
A 20% Drop In Chinese Stocks Spreads Fear - Global Stocks Are Rebounding From Early Loses!
Yesterday, the market rebounded after a nasty decline on Monday. Weak results from Lowe’s and comments from Capital One started the week off on a negative note. Tuesday, Home Depot and Target beat earnings estimates and the market erased some of the prior day’s losses. The Chinese market has been a focal point and it has declined 20% in the last two weeks. It weighed on our market Monday when it fell 5% and it is weighing on our market today after an overnight 4% drop. The Shanghai Index has rallied 80% in the last seven months compared to 45% for …
SPY 96 Likely To Be Tested - Support Should Hold This Week!
Yesterday, the market sold off after a 5% decline in the Chinese stock market. That selling spilled over to Asian and European markets and the S&P 500 gapped below minor technical support levels. Buyers took a break and we did not see a rally into the close. Weak results from Lowe’s added to the selling pressure and Capital One reported that loan defaults and delinquencies were on the rise. A better than expected Empire Manufacturing Index did little to boost morale. This morning, Target and Home Depot announced better-than-expected results. The PPI decreased by .9% and housing starts fell 1%. From …
3 Tips for Successful Options Trading
I Want To Trade Options - Where Do I Start?
CBOE RECEIVES SEC APPROVAL FOR TIED HEDGE PROCEDURE
CBOE RECEIVES SEC APPROVAL FOR TIED HEDGE PROCEDURE