March 29, 2024

How will traders position for weekend?

Index & Sector performance 4/10/14 The Market: Today the market not only took back the gains realized yesterday off the FOMC minutes but also the gains from Tuesday’s session leaving fresh closing lows for the week on a roughly 40 point down day in the S&P 500. With only one day remaining in the week, it will be very interesting to see how trader’s position tomorrow ahead of the weekend.  We have a hard time believing that traders will be anxious to position long going into the weekend after today.  We will be increasingly suspect of any early morning to…

China fears helped send market lower

Index & Sector performance 10/23/13 The Market: Today was a gap own and meander day where the majority f the losses were seen in very early trading and the rest of the day was mostly choppy. News attributed the drop to tightening fears out of China which sent international markets lower but as we have discussed here the market seemed ripe for a pullback.  More lower.. In economic data there was not too much today with import prices coming in roughly as expected while the Home Price Index was well below expectations (0.3% vs 0.8%) .  Yesterday we had the…

US Government shuts down and gains open up

Index & Sector performance 10/01/13 The Market: The old market adage Buy the rumor and Sell the news is somewhat in affect here today with the markets reaction to the Government shutdown.  As we noted in last night’s Game Plan, with the realization of the shutdown now in affect and the worry of the shutdown gone, short term longs would look for opportunity to trade a bounce.  A gap up was quickly consolidated after roughly 30 minutes of trading and then pressed higher until 12:30 pm EST. After 12:30 there was a roll over which took the index down until…

Daily Wrap

DJIA -80.41 (-0.52%) to 15,307.17; S&P 500 -13.81 (-0.83%) to 1,655.35; NASDAQ -27.32 (-0.90%) to 2,999.13 So the markets can have a substantial day down!  Today’s move lower was tied to Mr. Bernanke’s statement to congress as well as the release of the Fed minute which showed the willingness to decrease bond purchases.  In the grand scheme today was a solid down day but nothing in comparison to the recent rise.  The question is not of today’s move but whether or not it signifies a more significant realization being a top is in.  That is a common phrase but my answer is always “for…

Week in Review

DJIA +70.65 (+0.51%) to 13,895.98; S&P 500 +8.14 (+0.54%) to 1,502.96; NASDAQ +19.33 (+0.62%) to 3,149.71 Leading the major indexes higher today was the Nasdaq, even with AAPL being down over 2%.  There was not a great deal of economic news but New Home sales for came in lower than expected but the previous month was adjusted well higher.  At this point the market seems to be unshaken and seems to be saying that it is going higher until something substantive unseats it.  At the same time, Art Hogan, market strategist at Lazard Capital Markets pointed out that we are up…

Daily Wrap

DJIA +67.12 (+0.49%) to 13,779.33; S&P 500 +2.25 (+0.15%) to 1,494.81; NASDAQ +10.49 (+0.33%) to 3,153.67 All in all today was a nothing as we started around flat and stayed flat the majority of the day until we (again) rallied into the close after lunch.  After the close we had Apple Computers (AAPL) report earnings which slightly beat EPS estimates but slightly missed on revenues.  The futures dropped at the same time as AAPL reported and started to decline and now stand down about 7 points as I write. Apple (AAPL) clearly is driving discussion after the close and it…

Analyst Comments

If you see a symbol that interests you in this list then make sure to check out the Upgrades/Downgrades section for the complete list and details! Upgrades: NKE, IVNYY, GES, IACI, RIMM, KMX, PLT, PNR, AIV, CPT, AVB Downgrades: CREE, TASR, TKR, COL, INGR, ATVI