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Check out My New Entry at Trading Goddess’ Blog

Posted on May 11, 2008
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I have just posted a new entry at the lovely Trading Goddess’ Blog. I am posted there weekly highlighting a quality growth stock. I will be posting the charts here along with others I have collected over the weekend! One to check out is OTEX. OTEX appears to be coiling and pulling back for another run to new high territory.

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Before we move onto the VIT charts, HAPPY MOTHER’S DAY to all those who are mothers reading this blog.

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Stocks Finish the Week Lower, Volume Mixed

Posted on May 11, 2008
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Crude oil once again stole the media headlines away from anything that is meaningful to someone like me. All you see now is how Crude Oil is sky high and how it will destroy this economy. The media does a tremendous job of instilling fear into its viewers. This shows, the latest CNN poll has 80% of Americans thinking we are in a recession. The only issue is GDP growth hasn’t seen back to back quarters of negative growth. Let alone GDP growth hasn’t been negative since the recession in ‘01. Although max fear should be in the market, brought out by pure price and volume action we haven’t seen a tremendous amount of distribution in this market.

Rallies fail when Institutional players sell, period. At the moment although they are not buying stocks in large quantities they have yet to sell them off. The lack of either places us, market players into a precarious position. Many are now trying to anticipate a move to the downside. Many over at Real Money.com even blogger Chris Perruna are calling for a large decline. James “Rev Shark” Deporre is calling for a turn for March lows. I am still not seeing the large amount of distribution to really sound the alarm for further downside. Remember, never short a dull market.

Look out for my post later today at Trading Goddess’ blog. I will be profiling a quality growth stock that I believe will begin to move.

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Crude Oil, Spreading Fear Throughout Wall Street

Posted on May 9, 2008
Filed Under Talking Stock | 1 Comment

As Crude touched $125 overnight many are fearful that these high oil prices will destroy the stock market. So far, these high oil prices have only produced 1 distribution day in the past week. It seems that the elephants continue to stay on the sidelines of this market. They are neither buying nor selling. The ole saying; “Never Short a Dull Market” is so true here. This market is simply bumping up against resistance, until we breakdown on higher volume I continue to see this market higher. It has not proven me wrong yet.

I would still exercise caution if you are going long. I would not short this market at all, its far too dangerous to do so. Short interest remains at 5 year highs, although sentiment on Wall Street may be slightly bullish, their actions are telling a different story. In addition, Main Street believes we are in a recession more fuel to the upside fire!

Enjoy your Friday!

Market Speculator

New Post over at Big Wave Trading.NET

Posted on May 7, 2008
Filed Under Talking Stock | 5 Comments

I have posted a new article here.  It amazes me how bearish Main Street is on the United States of America.  It should come to no surprise to many of you.  The Main Street media continues to hammer how awful things are as they have aligned themselves with Liberal Thinking.  Liberal policies like the ones that would like to be implemented today are the same ones that took down the Roman Empire. 

The selling today doesn’t look all that bad when you consider volume.  NYSE looks like its volume will come in lower at the moment with the NASDAQ coming in a bit higher.  Let the fear continue to filter into the market.

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Markets Shrug of $123 Oil, Reverse Higher on Heavier Volume

Posted on May 7, 2008
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The bull market in crude continues to provide fear for this market. Stocks sold off much of the morning where the NASDAQ corrected .8%. Volume was tracking higher much of the day, but as the day worn on stocks got stronger. In the face of $123, which have most thinking this market is about to crash stocks continue to push higher on higher volume. A tremendous sign of accumulation and not too mention a diminished risk of more lows. Regardless of your opinions are or political views this market wants to move higher.

Continue to search for companies with great earning and sales growth. These stocks will be the ones that will move the fastest in this market. Two stocks that come to mind are HOGS and CDS. Both have tremendous earnings power and their charts are beginning to set up. Four stocks I own have just done 20/4 type moves (20% in 4 weeks) and we know by the case studies done by IBD we must continue to hold these stocks for a minimum of 8 weeks. The four are: FEED, VISN, PWRD, VIT.

Opinions aside, this market is very strong. We should continue marching higher on the indexes but remember to always cut your losses short and let your winners run.

Market Speculator

Consolidation Continues on Lower Volume

Posted on May 6, 2008
Filed Under Talking Stock | 2 Comments

A nice day of consolidation as stocks take another breathier.  Two big news stories for the day did push stocks down as Crude hit another high and MSFT dropped its bid for YHOO.  Both stories, on the outside would have seemed to be large negatives for the stock market.  However, stocks slide lower on lower volume.  A sign that the big institutions were not doing much of the selling.  Our lower volume down days continue to be the theme, but we still need powerful days where price and volume are insync.  Yesterday’s action was nice to see and I believe we continue April’s rally.

There are still many market pundits out there who continue to be bearish on this market.  Real Money, Rev Shark in particular continue to let market opinions slide into their commentary.  The fact is we have a market with volume higher on up days and lower on down.  We have very little meaningful distribution in the market at this point.  Big Institutional investors have just started to operate on the long side.  We aren’t in the all-in moment, but it the action is certainly starting to set up like it will happen soon.

Look for longs.

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NASDAQ Consolidates Nicely; Jobs Weren’t as Bas as Expected

Posted on May 3, 2008
Filed Under Talking Stock | 1 Comment

What a great day for Stocks to take a breathier after Thursday’s session of accumulation. Shorts continue to pile on as the indexes cruise higher. Although volume has been on the lighter side, we have seen a decent amount of accumulation. For the past two Thursday’s we have seen excellent accumulation and decent follow-through. Many market pundits, especially those at Real Money are allowing their opinions overshadow their actions in the market. They are not keeping it simple and clearly aren’t objective looking at price and volume action.

New highs outpaced new lows; 138 to 78. For a day of consolidation this is the type of action you want to see in a new uptrend. Even advancing issue volume outpaced the declining volume. Remember, NYSE short interest ratio continues to stay at 5 year highs. The current reading of 12.58% and adding in improving internals make price and volume look even that much better.

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Stocks Find Their Mojo, Race Higher on Volume

Posted on May 2, 2008
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Stocks shook off the FOMC and GDP hangover from Wednesday’s action and raced higher. The important action of yesterday’s move was the NASDAQ clearing Wednesday’s high with greater volume. It shows the elephants are coming back into the room on the long side. Regardless of the macro, consumer sentiment, or opinions the market will do whatever it damn well pleases. Thursday was an example of how powerful price and volume action can be in determining market movements. We are now beginning to see the elephants favoring the upside and ignoring the downside.

I am slowly increasing my exposure to the long side, if we continue to see volume build I will get fully invested. Look for stocks like PWRD!

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