Tough Market Here

This market doesn’t have a clue what it wants to do right now.  When breakouts fail (KITE, ZIOP) it tells you that the market is tentative. Yesterday I put KITE on the P&L at 62.75. Today it traded pennies from 68. If you are one of  my traders, you took the profit.  I am a […]

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Indexes Acting Bullishly

The major averages zoomed higher on Thursday, allowing the S&P 500 (+1.0%) to reclaim its loss from yesterday and then some. The benchmark index erased the remainder of its decline from January while the Dow (+1.2%) and Russell 2000 (+1.3%) outperformed. The market made the bulk of their advance during the opening hour and spent […]

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Tuesday Market Wrap-

The indexes have held and the bounce started yesterday morning at around 10:15.  That’s when everything bottomed and started the charge higher. The Russell, the Dow and the S&P all came within a whisper of their respective 200 day moving averages yesterday. The Nasdaq (QQQ) didn’t get near its 200 day moving average yesterday, but […]

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Sectors Switching

The markets are following through from yesterdays reversal which is a good thing.  All the support levels on the major indexes held and rallied yesterday and today we are seeing a follow through. The market is being led by the sectors that have been hurt the most.  Steel, solar, financials, coal and especially energy is […]

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The Market Is Dazed and Confused Right Now

Such odd behavior we’re seeing in this market. The false starts, the fails, the rally then the sell off.  It’s got it all.  Chop with a lower bias. This action tells me that the market is indecisive, it tells me that earnings are the focus, but Europe, Russia, and collapsing oil prices are still in […]

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Not Bad Considering

The market over the last two days tells you what it really cares about.  Yesterday we worried about Greece, but the market shook it off.  Today however, the big stocks, the “bluest of blue chips”, screwed the pooch and failed miserably on earnings.  You know the names, MSFT, CAT, PG……. So the bottom line is […]

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