Online Stock Trading | Stocks End with Green Across the Board

Stocks End with Green Across the Board


Filed Under Market Commentary |

Wall Street’s big winner today was the S&P 500 leading the way followed by the Dow Jones Industrials and Nasdaq up .3% on both indicies. Volume eased across the board more noticeably in the Nasdaq. The big story, trumping earnings was our old pal Crude Oil. Fueled by a cold Northeast crude futures moved higher. But was it the BIGGEST story?

Aside from Wall St. jargon the biggest story from my point of view was the put/call ratio. At 10:30am the ratio hit 1.06, meaning the bears were placing their bets! At days end the ratio stood at .92. The put/call ratio measures option buying, more puts the higher the ratio. Simple, today’s action reflected a large amount of put buying in the morning. How valuable is this information? It is not much to trade off of but it certainly helps guage the uptrend we are still in. Massive put buying shows the level of fear in the market. Markets rise on fear and fall on greed. Still not enough greed yet to fully convince me we are heading lower. Oh and let’s not forget our distribution days.

Nasdaq and the S&P 500 still have 3 days a piece. Both indexes are holding their 50dma, although for the Nasdaq volume is easing.

There will be much anticipation tomorrow as GDP numbers come out along with the FOMC rate decision. DO NOT get caught up in the action just stand aside and be the spectator!

Remember, post or email me your stock questions.

Happy Trading
Market Speculator

marketspeculator@gmail

Last 5 posts in Market Commentary

Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • del.icio.us
  • Netvouz
  • DZone
  • ThisNext
  • MisterWong
  • Wists
  • Bumpzee
  • StumbleUpon

Comments

2 Responses to “Stocks End with Green Across the Board”

  1. The Apprentice on January 30th, 2007 10:20 pm

    “There will be much anticipation tomorrow as GDP numbers come out along with the FOMC rate decision. DO NOT get caught up in the action just stand aside and be the spectator!”

    Well said - couldn’t have put it any better my friend. I like the blog!

  2. Market Speculator on January 31st, 2007 9:00 pm

    Thanks bud!!!

Leave a Reply