The Big Board Should Become a Supper Club

Big bad Sandy is on its way, and Twitter was all “atwitter” with whether or not the New York Stock Exchange would stay open for trading or shut down tomorrow. The New York Stock Exchange will close its trading floor Monday as Hurricane Sandy barrels its way up the Northeast, but Big Board trading will…

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Weekend Post 10/27/12, Sandy Setups

{+++} I am doing the weekend post today just in case I am with out power tomorrow. Governor Christi just issued a mandatory evacuation foe anyone who lives three blocks or less from the beach. My family and I are ten blocks out, so whatever is coming probably wont be good. Christie is also warning…

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This Market Really Needs Apple Tomorrow

The S&P ($SPY, $SPX) broke yesterday’s lows today, but closed pennies above that level. The $QQQ and $NDX pretty much landed right on their respective 200 day simple moving averages today. The short term future of the tape will depend on the outcome of the AAPL report tomorrow after the close. A good earnings report,…

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The Wrap for 10/22/12

{+++} The market started off on a good note, then slowly retreated until about 3PM when the tape caught a bid. It looks to me like it was a technical bounce brought on by short term overbought conditions. AAPL had a nice rebound and that helped the Nasdaq put in a green day. I’m still…

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Black Monday and Buying Fear

“The borrowing has to stop. The market slide was a shot right between the eyes that had better wake us all up to the simple fact that we can’t keep romping forever on borrowed money” -Lee Iaccoca, Chrysler Chairman, Oct.1987 In September 1987, the economic concerns over the weak dollar and rising interest rates started…

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Tech Sucks, Play What’s Working

Today was a flashback to the 80’s for me. Back in the day, the Fed would randomly raise or cut rates and announce “money supply” figures midday. Money supply was all the rage back then. The market didn’t know when it was coming and everyone had to move quickly when the announcement came. I don’t…

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The Wrap 10/17/12-Trade Ideas

{+++} As you ca see, the S&P has held its 50 day moving average like a champ so far.  The 1425 level held firm as support and the S&P futures were tested twice the other day at exactly 1420.00. So I  think its fair to say that those levels will act as our support for…

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The Wrap 10-15-12

{+++} The S&P bounced nicely off 50 day moving average support today. Is the correction over? Maybe, maybe not. There was very good breadth to the market today which pleases me. I like to see all the sectors firing on all cylinders. The financials, coal, materials and steel all perked up today . I added…

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