Online Stock Trading | Stocks Advance on Lighter Trade; FOMC Target Rate Cut Hopes Still Alive

Stocks Advance on Lighter Trade; FOMC Target Rate Cut Hopes Still Alive


Filed Under Fundamentals & Charts, Market Commentary |

The price trend continued during Tuesday’s trading session.  Stocks are playing the same story; Price advance with low volume.  Despite the lack of volume, I am reminding everyone that we still have a confirmed rally in place.  We may be in a trendless market at the moment but, we can not ignore a confirmed rally.  Stock Market leaders like BIDU continue to advance and show very little signs of slowing down.  When the big market leaders become tired and break down at key support levels its time to start worrying about a larger correction.  At this time, why guess where we are going.  No one has any clue where we end up next, no one can predict the future.

One of the keys to this type of market environment is to stay cash heavy but also find stocks that show excellent growth in fundamentals.  These stocks most be forming tight price consolidation patterns otherwise, stocks who show sloppy chart patterns and slow growth will often fail.  Stay on the look out for stocks who show great growth numbers, strong, and tight chart consolidation patterns.

Let’s review a stock mentioned by Chris Perruna.  Disclaimer purposes, I have nothing against Chris Perruna but, he has banned me from making comments on his site.  He pointed out in a post that EHTH was forming a cup and handle.  I would have liked to disagree with him however, I am unable to post a comment.  Like I said above, nothing against him he has a great blog but, why ban my comments?  I am not an evil person or hateful one.  At any rate, let’s take a look at EHTH chart.

EHTH.PNG

As you can see, its more of a flat base breakout on the weekly chart rather than a cup w/handle breakout.  I do like EHTH as a long term play however, we need to be focused on solid price consolidation patterns.  IBD has done all the research on leading stocks, all the past huge winners have showed the same characteristics.  There is no reason to fight history.  I do recommend checking out CP’s site.

Market Speculator

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Comments

6 Responses to “Stocks Advance on Lighter Trade; FOMC Target Rate Cut Hopes Still Alive”

  1. Chris on September 12th, 2007 8:43 am

    No one banned you from making comments on my site. What the hell are you talking about? I have never banned anything except true spam. So go disagree, you or anyone else has never been banned. I encourage conversation and enjoyed your point of view.

    Chris Perruna

  2. Market Speculator on September 12th, 2007 9:09 am

    Hi Chris,

    I am unable to publish comments on your site. I assumed that I was banned. I read your blog often and enjoy it. Wasn’t sure why I couldn’t ask/discuss some stocks you had posted.

  3. Chris on September 12th, 2007 9:15 am

    I was a little heated after reading your post but I have calmed. I have never banned anyone and would never ban someone that wanted to comment (that makes the blog better for everyone). I am not sure why it is not allowing you to post as I have never had that complaint for anyone else. It even allows spam to post but it goes into a holding zone where I check it (so it doesn’t even prevent them from posting - just appearing). That is very odd! Shoot me an e-mail if it continues and I will ask for help ont he issue.

    -Chris

  4. Market Speculator on September 12th, 2007 10:04 am

    No worries, maybe it thinks I am spam?

    LOL - been called worse, I am afraid.

  5. Author_Ego on September 12th, 2007 9:04 pm

    I can think of a few things to call you….

  6. Market Speculator on September 12th, 2007 9:50 pm

    Anything above the 5th grade level would surprise me

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