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Yesterday’s Action From the trading desk of Canslim.net>Tuesday the Dow Jones Industrial Average lost 4.94 points or 0.05% closing at 10,386.37 while the bellwether S&P 500 decreased 0.81 points or 0.07% ending the session at 1,164.08. The New York Stock Exchange volume total increased 7% from the prior session to 1.45 billion shares as big board advancers outpaced decliners 1,908 to 1,360 and there were 232 new 52-week highs and 7 new lows. The Nasdaq Composite gained 4.08 or 0.20% closing at 2,043.33 and the Nasdaq exchange's volume increased 5% to 1.69 billion shares. On Nasdaq advancers outpaced decliners 1,711 to 1,383 with 150 new 52-week highs and 26 new lows. The markets were confined to a fairly tight trading range today with the major indices showing brief gains in the morning, then slumping into negative territory near noon, then rallying again in the afternoon only to ultimately end the session mixed and relatively close to the unchanged mark. Another important event working in favor of investors behind the scenes today was that crude oil fell another -$1.72, closing at $47.37 per barrel. Now that we have gotten past the election jitters and last week's employment report, investors are anxiously awaiting the outcome of tomorrow's Federal Reserve meeting. The consensus is that the Fed will raise interest rates by 25 basis points while still keeping rates near historically low levels.
Trade Balance -$51.6 bln vs -$54.0 bln consensus.. Initial Claims 333K vs 340K consensus lowest level since July.Financial Markets uptick
CSCO>>JNPR and IC COMM stocks will follow
INCX hits 21 after the close..Good job SWING MAN!!!
VNUS recent IPO with innovative products makes a new high on good vol..On 11/5 Robert Reid's Small Cap Profile this>> The IPO market for medical device cos has been stellar. VNUS is an overlooked name despite its strong sector, good growth, a small float, profitability and the potential for catalysts (Q3 report and sell side initiations). The co has yet to be picked up by traders, but we believe money will trickle down to find overlooked IPOs, especially since the others have made such moves.
"THE DEAN",Peter Z gets the big nod on RIMM,,pointing out supp at the Sep peak..
EGHT and WQNI benefite from>FCC votes to exempt Vonage web phone service from some state regulations
WQNI up on no news..Earnings call on Thur,Nov11,and a VOIP stock
15:29:49:Bestrades} OIL - 47.40 VERY KEY
SWING MAN and MSCC..Chart being posted,showing breakout of 8 months consolidation handle on a W bottom.16.15 is a key area..Likes the action today..15.83 is a Pivot breakout..Looking at this also as a option action play in the 15 calls..
December crude fell $1.72 to close at $47.37,,at a seven-week low ...Petroleum supplies are due Wednesday morning.
15:00:18 SWING MAN> INCX has consolidated against daily chart fibonacci resistance, but looking like a good momentum long thru either thru an inside bar trigger on the 15min chart or session highs
14:56:19 Commodity_Mentor}on feeder cattle,posting a chart to the short side.. Oats,SUGAR,COFFE,CRUDE and CORN now being charted..
14:33:57 SWING MAN} some nice volume came into CNCT bringing volume to 1.5 times its 50day ma,,Chart now being posted
$COMPX>resistance at the 7 month high from June at 2055
SWING MAN saying "INCX has hit the top of zone resistance" 18.80..Then 21..Charts now being posted..
SWING MAN posting charts on INCX
Commodity_Mentor} Crude is breaking down nicely.So, I still don't want to be in the market as there is no good entry for me and there is plenty of other opportunity elsewhere. However, as I mentioned this morning, if you must be in this market, it does look like we are begining a new trend to the downside (or at least a very large retracement)and that bodes well to the bull side of stocks
SWING MAN now posting a chart on PPH
12:22:21 SWING MAN>> the DIA using the 60min chart is looking like a short..Low risk trade..He is now posting levels.
Mr.Butler talking about the evils of trying to pick bottoms,with chart postings..Example is BEANS
11:46:28 :Commodity_Mentor} both gold and silver looking good
trading on the highs...
this extends our lead nicely in both gold (long 1 from 432 on 11/4) and silver (long 1 @ 707 on 10/5 and 1 @ 755 yesterday)
SPMENTOR posting Emini chart..Still in sells..FOMC tomorrow is making it slow>>60.25 next supp...Notice how Steve caught the top this morning..
RIMM being posted on INNER VU..Notice the support(72ish)..
Congrats to Market Vu and MWY;
On 11/4 Market Vu spotted buying.Something that has been absent for months.. Look at it now!!
80% rule hits in the SP pits
$COMPX res at Friday's recovery high of 2046.92 creating a short term double top. There is minor support at 2035 with a secondary barrier in the 2029/2027 area. Provided by Briefing.com ...
Bestrades has 1525 as support on NQ
FCC votes to exempt Vonage web phone service from some state regulations >>EGHT(Look for 3.40 congestion for res) VOCL LVLT,getting play..
Trading GOLD?? CHART the BIG..GCZ4 saying Mr.Butler
MArket at supp..Still look weak
SPMENTOR posting ES chart,show a 2 sided trade with res spoken about this morning..Working short side with 66.25 as a key number..
$SOX testing PD low>>414.60.. Will we hold??
Commodity_Mentor> uhoh... cnbc is asking "is it time to get in on the gold rush?"... I hope they say "no", otherwise, i'm not sure I want to stay in ;)
ENER finding supp on 20sma pullback looking for move back to top of FLAG(19.70)..
Wholesale Inventories +0.5% vs +0.7% consensus
ECST tier2 stock to EBAY new 52 week high ..Look for MALL to follow
Webzen (WZEN) possible secondary play on SNDA(6.19 is 50sma) clear it and it runs..
AIRT another MOMO stock found good supp yesterday at 6x 27.25-27.30 and needs to recapture 20sma..
09:56:22 NQ made it to near 1536.5,to Bestrades Key
Reports that pipeline attacked in Northern Iraq..
L(Liberty Media) up on QVC profits..
Watch premarket high at $10
GOAM.. MOMO stock up again,on no news
KEY SP PIT numbers
Opening Range 1165.70 - 1166.40 right at the top of value and drove out --> Value 1165.90 - 1163.70
The MARKET VU SHOW 11/9
TUNE IN FREE>> http://www.themarketvushow.com M-F 8am est. until there is nothing more to say.
Yesterday’s action From the trading desk of Canslim.net>Monday the Dow Jones Industrial Average gained 3.77 points or 0.04% closing at 10,391.31 while the bellwether S&P 500 decreased 1.28 points or 0.11% ending the session at 1,164.89. The New York Stock Exchange volume total decreased 21% from the prior session to 1.35 billion shares as big board advancers trailed decliners 1,260 to 2,062 and there were 195 new 52-week highs and 7 new lows. The Nasdaq Composite gained 0.31 or 0.02% closing at 2,039.25 and the Nasdaq exchange's volume decreased 15% to 1.61 billion shares. On Nasdaq advancers trailed decliners 1,413 to 1,675 with 140 new 52-week highs and 17 new lows. Not much ended up on the positive side, but mild gains in Retail (RLX +0.27% ), Internet (DOT +0.54% ) and Semiconductor (SOX +0.19%) stocks helped offset some of the pressure caused by weaker Biotech (BTK -1.01%) and Broker/Dealer (XBD -1.77%) stocks. Integrated Oil (XOI -1.41% ) and Oil Services (OSX -2.94% ) shares were among the day's worst laggards. The selling wasn't particularly heavy, but there was a general weakness across most other groups including the Software (GSO -0.11% ), Healthcare (HMO -0.06% ), Bank (BKX -0.24% ) and Gold & Silver (XAU -0.31%) groups. Energy stocks led the declines as crude oil prices extended their recent slide. In the bond market, the benchmark 10-year Treasury was down 9/32 to yield 4.22 percent. The Federal Reserve is expected to raise their target rates by a quarter point on Wednesday. This comes after a strong October jobs report and other positive economic news.
Today: 10est is WHOLESALE INVT.CSCO after the close.All eyes should be on 1160.87(50%res of bear/bull market.1163.23 was the pre high print on 3/5/04 ..WILL WE HOLD??. …Investigations surrounding BA and .. RIMM. holders nervously await court ruling.. TASR Stun gun approved for Korean Air, few others show interest-- Washington Post..TZOO continues to be bid.One more time>TZOO group includes(LONG** CTRP** ORBZ IACI CWTD).. GOOG being bid up GOOG=(FWHT JUPM ASKJ INCX )
MKTX>>Marketaxess Holdings: Friday's IPO should continue to lift, aided by NY Times story of SEC probe into order executions by broker..Great job Bestrades on this comment on TASR.” 10:56:30 {prospero:Bestrades} 52.85 KEY TASR...
move thru it confirms its bullishness.” DISH third quarter revenue rose 28 percent on the year to $1.86 billion and that its board has declared a one-time dividend of $1 per outstanding share of Class A and Class B stock, valued at $455 million and payable on Dec. 14. ISON bid up..VCMP carry over MOMO stock from yesterday.. SNDA +12% (reports Q3, beats by $0.06),
Key SP Pit numbers from Kwik Trading>Key numbers from the SP pit will be posted on the show..
Want to know what key numbers Pit traders are looking at? Big boys or locals buying? Complete coverage from the SP’s to the Cattle pits. Get the day traders Market Profile numbers and OPENING Rng....Call the trading desk at KWIK Trading. Call 800.467.5945.. Kwik trading is now offering commission free forex currency and metals trading .There is a free demo platform (which includes free quotes and charts. Is that enough 'free's? Call 800.467.5945 for more info.
SPMentor> Steve posted his morning home work,with little being changed from yesterday..1163 area on the 15min will provide good supp..1160.25 will now be the line in the sand.. 1158.50 is KEY.. 1170.75 on the upside..One step at a time..
Steve will update during the trading day.. For a free trial of Steve Rifkin's S&P LIVE Mentorship where it's always called out live as the market trades and the Nature's Force E-Letter Report - review of the recent trading day, with key levels for the next trading day click here.
http://www.themarketvushow.com/sponsors.asp?sid=1
eButler serves The Commodities Report > Good follow through to the downside in OJ,as spoken about on Fri..Trend is down.. Dollar steady to firmer ahead of Wednesday Fed meeting,this will drive GOLD. Pound is not as married to the $$$ as much the EURO..Chart postings again on CRUDE and what he is looking at. Know why 48.50 is KEY??...Change of trend coming??/Listen in. Ask for Commodity Mentor Trade Summary Sheet.
Contact at 800.467.5945 or http://www.tgmti.com/contact.asp>>>
Chris “Swing Man Tyler >
Bestradess Vu’s >32.64 is SMH key To find out more about Personal Mentorship conducted in a live voice environment covering the pre-market trade thru closing bell and a FREE trial to Bestrades MARKET Newsletter and Commentary UPDATE click here: http://www.themarketvushow.com/sponsors.asp?sid=9
From the trading desk of SPMentor> Steve posted his morning home work,with little being changed from yesterday..1163 area on the 15min will provide good supp..1160.25 will now be the line in the sand.. 1158.50 is KEY.. 1170.75 on the upside..One step at a time..
Steve will update during the trading day.. For a free trial of Steve Rifkin's S&P LIVE Mentorship where it's always called out live as the market trades and the Nature's Force E-Letter Report - review of the recent trading day, with key levels for the next trading day click here.
http://www.themarketvushow.com/sponsors.asp?sid=1
eButler serves The Commodities Report > Good follow through to the downside in OJ,as spoken about on Fri..Trend is down.. Dollar steady to firmer ahead of Wednesday Fed meeting,this will drive GOLD. Pound is not as married to the $$$ as much the EURO..Chart postings again on CRUDE and what he is looking at Know why 48.50 is KEY??..Change of trend coming??/Listen in. Ask for Commodity Mentor Trade Summary Sheet.
Contact at 800.467.5945 or http://www.tgmti.com/contact.asp>>>
LIFT OFF>TZOO continues to be bid.One more time>TZOO group includes(LONG** CTRP** ORBZ IACI CWTD)..
CRDN in play off of Fallujah..Takes out daily swing high and 20sma(44.16)
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