Archive for May, 2010
10-290 Cemex, S.A. de C.V. (”CX & adj. CX1″) 4% ADS Dividend
10-290 Cemex, S.A. de C.V. (”CX & adj. CX1″) 4% ADS Dividend
10-287 New Listings
10-287 New Listings
10-287 New Listings
10-287 New Listings
A Temporary Low Has Been Established - I Expect This Rally To Last Into Friday!
I want to get this morning’s comments out early so I will keep this brief. After a dramatic decline, the market is grossly oversold and it is due for a snap back rally. The key technical signs to watch for were explained yesterday. First, we needed to see a deep intraday decline and a bullish reversal into positive territory. Yesterday, we got that after a 25 point S&P 500 decline. The buying started early in the day and it continued right into the close. Secondly, we needed to see follow-through the next morning. Today, we have the S&P 500 up 12 …
Watch The Close - Not The Intraday Action. Strong Close + Strong Open = Short Term Low!
Yesterday, the market ignored the late day rally from Friday. The weekend passed without any new emergency plans in Europe and bears hammered stocks. That pressure mounted in the final hours of trading and we closed on the lows of the day. In after hours trading, the S&P 500 futures continued to drift lower. Overseas markets experienced heavy selling and that set us up for a very negative open. The S&P 500 gapped down 25 points and panic selling has set in. No matter what the EU does, the market ignores every action. There is a feeling that they have reached …