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Markets Continue Their March Higher But Storm Clouds Loom
The markets are inching higher once again today. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $140.58, +0.96 (0.69%). This represents a master resistance level hit in the markets and predicts storm clouds and downside coming. The key to understanding the markets is to always go on the opposite side of the hype. The markets expect QE3 from the Federal Reserve, a major bond buying program from the ECB and more. ..Continue reading here: http://bit.ly/OJg7dF
Gold Miners Shine
This morning, the leading gold miners are trading higher to start the day. The popular and highly followed Market Vectors Gold Miners ETF (NYSE:GDX) is trading higher by 0.35 cents to $42.63 a share. Short term traders should watch for intra-day resistance around the $42.90, and $43.26 levels. The daily chart of the GDX will have very good support around the $39.50 area should the leading ETF decline from current levels. ...Continue reading here: http://bit.ly/QAjgPU
Retail Sector Ticks Lower In Early Trading
This morning, many of the leading retail stocks are trading lower to start the day. The important Market Vectors Retail ETF (NYSEARCA:RTH) is trading lower by 0.19 to $43.05 a share. The daily chart of the RTH is still holding up very well. Short term traders can watch for intra-day support around the $42.88, and $42.68 levels. ...Continue reading here: http://bit.ly/OztcXs
Scalpers Trade Lesson: Know The Intra-day And Daily Chart Trend
Many traders and investors have simply been buying the dip every time the stock market declines. This method has worked because the daily chart trend is up. As long as the daily chart remains up the buying the dip method will work. However, day traders or scalpers must deal with two trends and this makes day trading a much more skillful endeavor. Day traders or scalpers must watch and know the daily chart trend plus the trend of the intra-day time frame they may be using to find support or resistance. ...Continue reading here: http://bit.ly/NQtVFJ
What Does It Take To Master The Markets?
Many times in my career I have encountered new traders who believe they have the ability to master the markets after reading a book on trading, or even because they have obtained some form of degree. Most often the first question I ask them is; are you a fundamental trader? Fundamental traders are those who generally read a companies balance sheet, (example-EPS, PE, EBITDA, book value, etc.) or perhaps they are a technical trader which is someone that uses charts of past prices, patterns, and stock market cycles. More often then not the trader is unsure of a specific methodology and is typically dependent on someones opinion to invest or trade a stock, usually from a book or talk show. Within minutes, I realize that the new investor or trader is grasping onto a dream encompassing an optimistic hope mode. ...Continue reading here: http://bit.ly/MiRCn2
Major Support Level Hit: JCP Is A Buy
A bounce should occur in shares of J.C. Penney Company, Inc. (NYSE:JCP). This retailer is trading at $19.53, -0.77 (-3.79%). It has fallen drastically from a 52 week high of $43.18. The key to this long swing trade is the major support level the stock has just hit in the $19.50 area. ...Continue reading here: http://bit.ly/NokEDr
What You Need To Know: Markets Prepare For Earnings
Stock are trading flat to slightly lower on extremely light volume. There is a still a little negativity after an ugly Non Farm Payrolls Report from Friday. That is giving the markets a slight sell. The light volume is carryover from the July 4th holiday last week. SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $135.09, -0.50 (-0.37%).
... Continue reading here: http://bit.ly/ROjoeo
Cloud Stocks Remain In The Eye Of The Storm
Last week, many of the leading cloud computing stocks sold off sharply lower. Today, many of the leading cloud computing stocks are once again coming under selling pressure. Salesforce.com Inc (NYSE:CRM) is considered to be one of the leading stocks in cloud computing industry group. Today, CRM stock is declining lower by $2.03 to $133.72 a share. ... Continue reading here: http://bit.ly/McGdth
Debt Jubilee
All of the major stock indexes are trading sharply higher today after a European bank recapitalization was announced during the European Union summit. If we have learned one thing by now, the markets will rejoice on any type of bailout news. The bottom line, debt continues to bailout debt and that theme has not changed since the Dow Jones Industrial Average crashed in 2008. The big question that everyone must ask themselves is how can these banks afford to take on new debt. In the United States the four large banks are able to do so because they can borrow money at zero percent from the Federal Reserve, however, that is only the four largest banks. The bailout in Europe is huge and will cover hundreds of banks. Again, the details here are very sketchy and nobody really knows what is going happen after this institutional euphoria wears off and the real details are released. ...Continue reading here: http://bit.ly/N2hOm8
Bull Flag On Dendreon Signals Possible Up Move Coming
Dendreon Corporation (NASDAQ:DNDN) has a solid bull flag formation on the daily chart. In addition, it is holding above the 20 moving average. The combination of these two factors, tells intelligent swing traders, an up move may be on the horizon. Dendreon Corp. is trading at $7.22, -0.20 (-2.71%). ...Continue reading here: http://bit.ly/MYGzQa
Oil Service Stocks Remain In The Green
Some leading oil service stocks that are trading higher today include Halliburton Co (NYSE:HAL), Baker Hughes Inc (NYSE:BHI), and Schlumberger Ltd (NYSE:SLB). All of these stocks should be watched closely today as they are showing good intra-day relative strength. Stocks with relative strength will often lead markets higher if the major stock indexes head higher. ...Continue reading here: http://bit.ly/NFVYUr
Bull Flag Looks To Create NFLX Squeeze
There is an bull flag formation on the Netflix, Inc. (NASDAQ:NFLX). This pattern is forming just above the 20 moving average which adds validity. Based on this extremely bullish pattern, the stock could see significant upside in the coming week, including a short squeeze. Upside potential is to $72-$73. Netflix is trading at $66.39, -0.41 (-0.61%). ...Continue reading here: http://bit.ly/M4VNqc
Markets Consolidate, AAPL Breaks Key Support Trend Line
Stocks are trading slightly higher on the day after an ugly drop yesterday. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $131.86, +0.60 (0.46%). This is a classic consolidation day and should be viewed as a bearish inside bar. Ultimately, based on the charts, this market will have more downside into the end of the week. ... Continue reading here: http://bit.ly/LdPhJI
Chevron Intra Day Buy Level
Chevron Corporation (NYSE:CVX) is trading at $98.35, -2.09 (-2.08%). The stock is taking a beating as the markets are dropping sharply on more European concerns. While this stock falls, it has a sweet spot of support at $97.85. On an intra day basis, ... Continue reading here: http://bit.ly/ML3vUz
Major Level On XOM Approaching
Exxon Mobil Corporation (NYSE:XOM) has been roaring higher on a major rally that has had some legs. While the move is impressive, the stock is inching into a master short level at $85.60. This is a gap fill going back to May 5th, 2012. Based on the PPT (price, patter and time) method of pivot calculations, this stock should turn lower in this area. The downside target is $83.15. ...Continue reading here: http://bit.ly/N9yneF
Slow Motion Activity Ahead Of The Fed
The major stock indexes have not really moved all that much this morning. Many investors are now waiting for the Federal Open Market Committee (FOMC) meeting to conclude this afternoon. Most traders and investors are expecting the Federal Reserve Bank Chairman Ben Bernanke to keep the Fed funds rate (overnight lending rate to the large banks) at zero to a quarter percent. The Fed funds rate has remained at 0% - 0.25% since December 2008. So basically, the large banks such as J.P. Morgan Chase & Co (NYSE:JPM), Citigroup Inc (NYSE:C), Bank of America Corp (NYSE:BAC), and Wells Fargo & Co (NYSE:WFC) can borrow money at zero percent and lend it out at a higher interest rates, speculate on equities, and buy bonds with the money. ....Continue reading here: http://bit.ly/M6F3OQ
Highly Shorted Stocks On Watch
Stocks like First Solar, Inc. (NASDAQ:FSLR) have been on a tear lately, as nervous shorts have started to cover. First Solar is trading at $14.90, +0.95 (6.81%). Just two weeks ago the stock traded at a 52 week low of $11.43. With this stock squeezing, other highly shorted well known names need to be watched. ...Continue reading here: http://bit.ly/LrKsjU
Coal Stocks On Watch: Nearing Bounce Levels
Coal stocks have been punished all year long. Arch Coal Inc (NYSE:ACI), Patriot Coal Corporation (NYSE:PCX) and James River Coal Company (NASDAQ:JRCC) are all well over 50% off their 2012 highs and making new 52 week lows daily. While most average investors are scared about picking these up, I am beginning to salivate. Every stock has a bounce, the key is finding the appropriate level. To do that, one must watch the key things that would create that bounce. First, oil needs to bounce higher for multiple days, getting back to the $85 or higher area. Next, we need to follow these three stocks and look for reversal days. ... Continue reading here: http://bit.ly/LTRB8h
Oil Hitting Major Support Levels
Oil has been crushed lately as global demand looks to be stalling. Problems in Europe, China and India could mean a major drop in the usage of oil. While the bears are out in full force, oil has already dropped sharply. In addition, oil is coming into major support. ..Continue reading here: http://bit.ly/Mc2APi
Signal: Banks Higher In Ugly Market
As the markets are trading sharply lower again, there is a silver lining that may signal a rally is not far off. While the SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $130.87, -0.86 (-0.65%), JPMorgan Chase & Co. (NYSE:JPM) is trading at $33.08, +0.12 (0.38%). In a market dominated by fear ... Continue reading here: http://bit.ly/Mc0PSl
Expectations For The Non-Farm Payroll Report Are Nil
Tomorrow, the United States Labor Department will report the non-farm payroll report for the month of May. The past few job reports from the Labor Department have been absolutely dreadful coming in below expectations. Economists are expecting the May non-farm payroll report to show 150,000 new jobs. Many other stock market participants are This report could cause a short term positive reaction in the stocks market if it is better than expected. ...Continue reading here: http://bit.ly/LL0H5H
Divergences Appear: May Signal ECB Stimulus Coming Shortly
The market is showing positive divergences in two major areas. These areas signal stimulus and possible bank recapitalization from the European Union and the ECB. Ultimately, the markets are signaling something big on the horizon that could cause the market to pop sharply in the short run. ...Continue reading here: http://bit.ly/KTpdVw
Home-builders Get Nailed
As many of you already know, the home-builder sector has been one of the strongest industry groups in 2012. Many talking heads in the financial media are now calling a housing bottom. Whether or not this is true really does not matter, the charts will usually tell the truth. Today, the leading home-builder stocks are selling off. Toll Brothers Inc (NYSE:TOL) is considered to be one of the leading home-builder stocks in the sector. This morning, TOL stock is trading lower by $1.39 to $27.30 a share. Short term traders should watch for intra-day support ...Continue reading here: http://bit.ly/Ne1ZJK
Airlines Stocks Start Higher
All of the leading airline stocks are catching a small bid higher despite the overall stock market weakness. The catalyst for the strong airline sector is obviously the weak oil prices. Light sweet crude has declined lower by more $20.00 a barrel since topping out on March 1, 2012 at $110.55 a barrel. ...Continue reading here: http://bit.ly/L2zVe6
Cloud Computing Stocks Struggle Despite The Market Rally
This afternoon, most of the leading cloud computing stocks are struggling to trade higher. Salesforce.com Inc (NYSE:CRM) is considered to be one of the leading cloud computing stocks in the market. Today, CRM stock is trading lower by $1.28 to $145.72 a share. This leading cloud stock was trading as low as $143.20 around 1:30 pm EST. Since that afternoon low pivot CRM has rallied off of the session lows. Short term traders should watch for intra-day resistance around the $146.20, and $147.00 levels. ...Continue reading here: http://bit.ly/Kqdi1Z
The Facebook Buy Level
Facebook Inc (NASDAQ:FB) continues to fall sharply, trading at $29.19, -2.72 (-8.52%). As most investors panic and run for the exit, smart traders and investors are eyeing it for a buy. The key here is to recognize the insane hype leading into the IPO and now the nutty hype on the bearish side. When this indicator reaches a maximum, a reversal takes place. Right now, Facebook is nearing its maximum level of negative hype. ...Continue reading here: http://bit.ly/KD0Qun
Dollar Double Top: Last Stand For The Markets
As the markets move inverse to the Dollar, key levels of resistance on the Dollar become extremely important. The PowerShares DB US Dollar Index Bullish (NYSEARCA:UUP) is trading at $22.84, +0.02 (0.09%) and into a major double top from January 2012. This level should cause the Dollar to stop moving higher in the short term and even pull back. ...Continue reading here: http://bit.ly/K9Qt4C
Underperform: Financial Stocks Are Warning Signal
Banks in Europe are rotting and the stench is spreading to the financial companies in the United States. The world is interconnected and that means what happens half way around the world will cause problems here. Everyone owns each others debt and derivatives. Therefore bank stocks in the U.S. have plenty of exposure to the problems in Europe. ...Continue reading here: http://bit.ly/K9MSU8
Chips Lead Tech Today
Today, the important semiconductor stocks are trading sharply higher. When the semiconductor stocks rally higher it is usually a good sign for the technology sector. The semiconductor sector is viewed by many traders as a leading indicator for the NASDAQ Composite. When the semiconductor sector lags the NASDAQ Composite it is usually a warning sign that the NASDAQ Composite will be weak in the future. ...Continue reading here: http://bit.ly/L171rg
The Ultimate Inflation Indicator
Earlier today, the major stock indexes were trading sharply lower. The highly followed SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) was trading down to the $122.82 level. This afternoon, the DIA is rallying off of the lows to ....Continue reading here: http://bit.ly/Jr0t4Q
Positive Divergence: Dollar vs. Market Suggest Stock Rally Soon
The markets are taking a beating today. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $130.44, -1.76 (-1.33%). While things look ugly, there is a major silver lining showing up. This is a positive divergence between the markets and the U.S. Dollar. ...Continue reading here:http://bit.ly/JxLM4F
Good News Is Now Bad News
since the NASDAQ Composite bubble popped in the year 2000 the only way to get the major stock indexes higher has been to drop the U.S. Dollar Index. Hopefully, one day a stronger dollar will be viewed as a positive to the institutional traders. ...Continue reading here: http://bit.ly/JxB65Z
There Is Only One Way To Get It Up And It Is Not Viagra
There is only one way to get the stock market up and it does not come in pill form; it is a fall in the U.S. Dollar Index. I have been writing about the U.S. Dollar Index for years now and it is still amazing how so many traders and investors disregard this critical index. Everyone should remember that the U.S. Dollar is the world's reserve currency and this is a ...Continue reading here: http://bit.ly/Kgh3Gt
Real Bottom or Dead Cat Bounce?
This afternoon, most of the leading coal stocks are trading higher on the session. The Market Vectors Coal ETF (NYSEARCA:KOL) is trading higher by 3.10 percent to $26.46 a share. This is the best trading session for the KOL since April 12, 2012. It is important to note that the coal sector has been very oversold on the daily charts and was due for a short term bounce. Traders and investors should not look at this rally in the coal sector as anything more than a dead cat bounce. This bounce could last for a few days to a couple of weeks. If the current low of $25.61 is broken on the KOL chart then traders should watch the $20.00 level as the near term daily chart support area. ...Continue reading here: http://bit.ly/K8u4RC
Facebook Could Not Have Picked A Worse Time For An IPO
This is the day when Facebook (NASDAQ:FB) will debut for trading on the open market. Facebook is the most highly anticipated initial public offering (IPO) since Google Inc (NASDAQ:GOOG) came public on August 19, 2004. Facebook stock is being priced at $38.00 a share by the lead underwriters. The stock is expected to trade higher once it opens for trading around 11:00 am EST. The company is expected to be valued at about $100 billion dollars. ...Continue reading here: http://bit.ly/JoSsv9
Lock And Load: Apple Will Bounce At This Level
Apple Inc. (NASDAQ:AAPL) is falling sharply again today. The once rocket ship stock is dropping quickly to earth. Apple is trading at $534.77, -11.30 (-2.07%). The media and analysts were pumping the stock when it was trading over $600.00 per share. Meanwhile, when Apple was $621.00 a share, I alerted the world to sell it and go short. ...Continue reading here: bit.ly/ITMSapple
Bounce For Profit: Metal Stocks Holding Major Supports
The metal stocks continue to hold key support levels on their daily charts. Stocks like Goldcorp Inc. (USA) (NYSE:GG) and Silver Wheaton Corp. (USA) (NYSE:SLW) are into major support as shown in the chart below. These stocks have seen a dramatic decline in recent months as the Dollar has surged and gold and silver have fallen. The SPDR Gold Trust (ETF) (NYSEARCA:GLD) hit a 52 week high in 2011 at $185.85. Today, the low was $148.98. ...Continue reading here: http://bit.ly/JriEtw
Transports Finally Head North
Many of the leading transportation stocks are trading higher today. This leading sector has been extremely weak since May 3, 2012. Today, the important iShares Dow Jones Transport. Avg. (ETF) (NYSEARCA:IYT) is trading higher by $1.15 to $92.41 a share. Short term traders should watch for intra-day resistance around the $92.60, and $93.10 levels. This sector was very oversold in the short term with most other sectors and due for a bounce. ...Continue reading here: http://bit.ly/IYHONz
Base Metals Catch An Early Bid
This morning, all of the leading base and industrial metal stocks are catching a bid higher. It is important to note that this sector has been very weak since the start of the year. A case can be made that the leading base and industrial metal stocks have been weak since March 2011. One of the leading stocks in the sector is Freeport McMoRan Copper & Gold Inc (NYSE:FCX). This stock is very oversold on the daily chart and is really due for a short term bounce. Today, FCX stock is trading higher by $1.22 to $33.87 a share. Short term traders should watch for intra-day resistance around the $33.90, and $34.85 levels. ...Continue reading here: http://bit.ly/IYBMMM
Interview: Market And Stock Comments From A Pro
This is a question and answer interview with Chief Market Strategist Gareth Soloway of InTheMoneyStocks.com. He gives his insight and we profit from it during this trading session.
Q: What do you think of the stock market today? The SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA) is trading at $127.26, +0.31 (0.24%). ...Continue reading here:http://bit.ly/JtfcjV