Online Stock Trading

Holding The Bottom

9:34amEST Stocks look to hold onto its near term low; even with news out of Citi.

The initial shock of the YoY numbers from the Producer Price Index sent stock index futures lower. More fallout from subprime mortgage, as Citi loses another $10bn. It can not be a surprise that we are continuing […]

Stocks Find Short-Term Bottom

9:10pm EST:  Stocks Get Much Needed Relief from Oversold Conditions
Stocks certainly got a lift from IBM’s upbeat news.  The price gains held throughout the entire session but, volume was no where to be found.  Traders are hesitant to stick their heads too far out with important Producer and Consumer price data set to be released […]

Short Term Bottom

6:40am EST - Stocks Start Monday in Search of a Short Term Bottom
Despite the carnage on Wall Street, there are many (Fast Money and some bloggers) who would like to be adding or starting new long positions.  I just can not see the risk:reward here with so many damaged charts.  GOOG, AAPL, RIMM, GRMN, FSLR […]

Price Action

Let’s check out what the price action is telling us!

Bearish action on the NASDAQ

Bernanke Speaks, Markets Listen

1:00pm EST  Just as Bernanke opens his mouth; markets rise and fall with equal velocity
Ben Bernanke spoke today and led market participants that he was ready to cut rates.  Fed Funds Futures are pricing in a 94% chance the FOMC cuts the Target Rate by 50bps.  This market is looking for some catalyst to the […]

Markets Can Not Gain Traction

Noon Time EST
More credit worries hitting the market, causing many to bail on yesterday’s gains.  CFC and COF are being affected by the credit worries.  MA is still holding tough amid all these credit/consumer worries.  Volume appears to be inline or slightly below yesterday’s trade.
I still believe you should be heavy with cash, I’m not […]

Markets Are Rallying

As of 3:41pmEST
The markets have certainly tried to put in a short-term bottom. Fears stemming from a possible bankruptcy filing from CFC has many market participants spooked at the moment. Looking at CFC’s chart, you almost wonder if the rumors are true? Now is not the time to believe we’ve put in […]

Stocks look to Rebound

NASDAQ marks 5th day of distribution in the last 8 trading sessions; stocks are
After a nasty day of distribution in the markets yesterday, we look to rebound from extreme oversold conditions. Let’s not get too excited, the put/call ratio hit an extreme level yesterday: 1.6. This tells me that we are […]

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