Recent ArticlesBy Michael on Aug 27, 2008 in Watchlists | 3 Comments
I can’t take it anymore — this week is like watching paint dry. I’m taking the rest of the week off. Look for regular posting to resume after Labor Day.
On Today’s Calendar:
More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
Potential swing trades:
Read the rest
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By Michael on Aug 26, 2008 in Watchlists | 0 Comments
On Today’s Calendar:
More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
Potential swing trades:
Read the rest
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By Michael on Aug 25, 2008 in Stock Market | 0 Comments
We had some impressive selling today for such a light volume day. Practically all of the major indices were down 2% on the day and decliners swamped advancers by more than 3-to-1. So in just one session the market has erased most of last week’s bounce off of support.
It’ll be a bad post-vacation surprise for the bulls if the small caps break their 200-day moving average. For a while it seemed like the small caps would pull the rest of the market up but that theory’s not looking so good right now…
No changes
| Trend | Nasdaq | S&P 500 | Russell 2000 |
|---|---|---|---|
| Long-Term | Down(-) | Down | Lat(-) |
| Intermediate | Up | Lat | Up |
| Short-term | Down(-) | Down(-) | Down |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
*** I’m simply using the indices’ relations to their 200, 50 and 10-day moving averages to tell me the long, intermediate and short-term trends, respectively.
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By Michael on Aug 25, 2008 in Watchlists | 0 Comments
Volume should continue to be on the light side as we head toward Labor Day next Monday. If it’s anything like the end of last week I’ll be having some real short days this week because almost nothing will be hitting my scanner. Here are some index and oil charts:
On Today’s Calendar:
More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
Potential swing trades:
Read the rest
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By Michael on Aug 21, 2008 in Watchlists | 0 Comments
It’s a familiar story this morning — oil’s up, concerns over the financials are swirling and the stock futures are indicating a gap down opening. Let’s see if the bulls can keep this week’s lows from breaking…
On Today’s Calendar:
More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
Potential swing trades:
Read the rest
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By Michael on Aug 20, 2008 in Stock Market | 4 Comments
This was a session which I like to label as a chopfest. The bulls can claim a victory though since the indices finished higher on the day and volume, while still on the light side, increased a bit. But I’ll call it a minor victory for the bulls since the advance decline line were mixed — positive on the NYSE and negative on the Nasdaq — and the indices didn’t even regain all of Monday’s losses.
Oil broke its July trendline today in unimpressive fashion. It may be worth keeping an eye on though…
No changes
| Trend | Nasdaq | S&P 500 | Russell 2000 |
|---|---|---|---|
| Long-Term | Down | Down | Up |
| Intermediate | Up | Down | Up |
| Short-term | Down | Down | Down |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
*** I’m simply using the indices’ relations to their 200, 50 and 10-day moving averages to tell me the long, intermediate and short-term trends, respectively.
Tags: United-States-Oil-Fund-LP-(ETF)-(USO)
By Michael on Aug 20, 2008 in Watchlists | 0 Comments
The bulls are trying to come back this morning, especially on the Nasdaq. Of course that could all change with the oil inventory report at 10:35…
On Today’s Calendar:
More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
Potential swing trades:
Read the rest
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By Michael on Aug 19, 2008 in Stock Market | 1 Comment
Despite the light volume selloff today the bears were able to do some technical damage to the S&P 500 by breaking its July uptrend. It’s looking like a retest of the July low could be in the cards if the bulls can’t defend support around 1250.
The Nasdaq looks a little better since it’s still above its July trendline and its 50-day moving average.
The “downs” are starting to dominate the trend table again…
| Trend | Nasdaq | S&P 500 | Russell 2000 |
|---|---|---|---|
| Long-Term | Down(-) | Down | Up |
| Intermediate | Up | Down(-) | Up |
| Short-term | Down(-) | Down | Down(-) |
(+) Indicates an upward reclassification today
(-) Indicates a downward reclassification today
Lat Indicates a Lateral trend
*** I’m simply using the indices’ relations to their 200, 50 and 10-day moving averages to tell me the long, intermediate and short-term trends, respectively.
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By Michael on Aug 19, 2008 in Watchlists | 0 Comments
The futures have weakened even more after the PPI data hit at 8:30 this morning. So it looks like another weak day. I want to see if I can find a good short candidate from the mortgage plays listed in the gapping down section. I’m hoping that WB, which was also on my swing list today, gives a decent entry.
On Today’s Calendar:
More Calendars: U.S. Earnings | Conf. Calls | Surprises | IPO | Economic
Potential swing trades:
See one of the recent ‘Chart Reading‘ posts for some potential swing candidates. Also be sure to check my typical swing trade entry & exit rules.
Potential day trades:
Read the rest
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By Michael on Aug 19, 2008 in Chart Reading | 0 Comments
Here are some of the better looking swing trade setups I found going through my scans last night. They all happen to be shorts this time. My entry & exit rules are the same as always.
Note: Whenever I post swing trade candidates I always get asked if I’ve gone back to swing trading. I have not. I’m just posting these b/c I know many of you swing trade. I may day trade some of these if & when they trigger though. I still like to run my scans just to get a better feel for market.
Tags: ArthroCare Corp. (ARTC), Costco Wholesale Corp. (COST), Quest Software Inc. (QSFT), RTI International Metals Inc. (RTI), Technical Analysis, Wachovia Corp. (WB)
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