Online Stock Trading

Late day rally represents Day 1 of a new rally attempt

At 3pm today stocks looked like they would slump into the close after the Nasdaq hit a 52 week low. Rallying into the close the Dow Jones Industrial average raced up .48 while the Russell 2k lead the way moving higher .58%. We are heading into a new market rally attempt with today’s move.
Tomorrow […]

Path of Least Resistance

Israel, Lebanon, and Iran dominated news headlines as the Middle East conflict continued. Israel continues to pound Lebanon with mortars and air strikes. On the brighter side, oil slid down 1.73 to 75.30. This past Thursday we saw Oil go through an exhaustion gap. Shown here:
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Nasdaq undercuts 6/14/06 lows, waiting for another rally attempt

The Middle East dominated the minds on Wall Street. Tensions in the area frightened oil traders sending oil above 78 dollars a barrel. Fear is building the Wall of Worry higher and higher, time to buy?
Dow Jones Industrial - (1.52%)
Nasdaq Composite - (1.73%)
S&P 500 - (1.30%)
S&P 600 - (1.74%)
S&P 400 - (1.93%)
We just haven’t reached […]

Look out for what we do at the end of the day

Pay close attention to the close today…I will be back with
thoughts…intermediate term is still down…I don’t think we’ll see much of a
light at the end of this correction tunnel until October…be patient and in
cash

Nasdaq, new low on RS line

Markets are selling off this morning. 6 bombs in Mumbai, India have spooked
investors. We are definitely settling in this market…the risk to the upside,
we still have some room to the downside to move.

Market commentary tomorrow…

Intermediate sentiment is negative! Stay in Cash.
Till tomorrow,
MktSpec

Nasdaq Divergence

I want to point out the divergence between the Nasdaq and the dow/s&p 500 at the
moment…Nasdaq down .5% while the Dow and s&p are up .3% and .2% respectively.
I wanted to point this out because in the first two weeks of May we saw the
same thing happening. Nasdaq started to accumulate […]

Intermediate trend is still down

10 week line on stock market averages are still pointing to the negative side.
Two distribution days for the Nasdaq are telling me this confirmed rally will
ultimately fail, a 5th day of distribution is on its way in the coming weeks.
Its best to stay patient and build watch list full of stocks who are moving
sideways and […]

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