Ladies and Gents, We’re Back!
After a week in Las Vegas, we’re back and ready to fire up the trading again. A lot has happened in the prior week and a lot more is to come in the week ahead. Enjoy!
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Wk11: Market Recap
In last week’s news, Warren Buffett’s commented Monday that the economy has “fallen off a cliff,” but is optimistic that the banking sector will recover. Citigroup announced they we’re profiting on the year Tuesday and stocks soared with the DOW up 5.8%, S/P 6.4% and NASDAQ and Russell up over 7%. Citigroup itself ended up 34% on the day. Gold pulled back early in the week before climbing higher with a close of 928.00 on Friday (London Fix PM). As…
Wk12: Market Forecast
In the week ahead make note of these important economic announcements.· Sun: Ben Bernanke Speaks on CBS 60 Minutes 7:00 PM ET· Mon: Industrial Production 9:15 AM ET· Tues: Housing Starts 8:30 AM ET· Tues: Producer Price Index 8:30 AM ET· Weds: Consumer Price Index 8:30 AM ET· Weds: FOMC Meeting Announcement PM 2:15 ET· Fri: Ben Bernanke Speaks 12:00 PM ET Other economic news reports are Housing Market Index Monday, Petroleum Status Report Tuesday and Jobless Claims Thursday. Visit…
Wk12: Stocks to Watch
LONG ARO – Sitting right at the 200-MA and showing increasing volume on the current rally. Enter close to $24 with a stop under the prior swing low. BR – Broke out nicely on good volume. Buy on a pullback at prior resistance around $16.50-$17.00. HANS and SA are acting similar to BR. Use BR’s chart as a reference when drawing your support and resistance trend lines. GEOY – Buy on a break of $20.30 (Resistance). The trade can be…
Wk10: Market Recap
Week 10 was filled with economic data. The ISM manufacturing report showed a second straight month of strength which is leading some to say that the worst may be over. In President Obama’s statement Tuesday, he expressed that the long-term valuation of the stock market is attractive. Tuesday a very weak pending home sales report headlined the day’s economic data. The report points to deepening declines for current home sales. The Fed’s Beige Book reported that the recession is deepening,…
Wk11: Market Forecast
In the week ahead make note of these important economic announcements.· Tues: Ben Bernanke Speaks 8:30 ET· Thurs: Retail Sales 8:30 ET· Fri: International Trade 8:30 ETLook for a break of S/P 725 or 665 for continued moves to the up or downside. We are in uncharted territory so proceed with caution. The most important thing through these times is to preserve capital.
Wk11: Stocks to Watch
For this week’s watch list, look to our Facebook group where Justin will be keeping everyone up to date on weekly market action…http://www.facebook.com/profile.php?id=10029906&ref=profile#/group.php?gid=57750268853
Feb09 Recap
The S/P and Dow both broke down and closed below the prior lows set back in 2002, while the NASDAQ and Russell are considerably well off those levels. Nonetheless, the month of February was quite bearish. Earnings, Economic Data, and President Obama’s Stimulus Plan were all contributing factors in the month’s volatility.Even though we are primarily swing traders, it is important to back out and review the indices and individual positions on a larger timeframe as prior levels of support…