Online Stock Trading | Stocks Move Higher, On Higher Trade But Continue to Run in Place

Stocks Move Higher, On Higher Trade But Continue to Run in Place


Filed Under Fundamentals & Charts, Market Commentary |

Not much in the way of commentary on this market. There are only so many different ways you can say seemingly the same thing. Once again, stocks moved higher on higher trade but have not produced anything over the past week. Ideally, when stocks bottom they should immediately move higher on higher volume. Too bad what we have seen is the upside volume, although higher than the previous day fall over the past few weeks. Even secondary items, like NH/NL and Options volitility show that any rally here will not last. I am cash heavy and very skeptical of any move the market makes here.

I did find an interesting chart. Ticker: CAP. 3 things I like about this company: Sales MRQ up 20%, EPS MRQ up 267% and it sports a ROE of 25%. The chart has been in a pretty tight flat base over the past 9 weeks. Yesterday it broke out above the base high on stronger volume. Relative Strength hit a high as the stock moved into new high territory. Its a sign of strength. In this market environment, if this stock doesn’t move higher I will definitely be restricting my position. There is no way I am going to let any losses grow, positions must be cut if they are not working properly. Lets check out the chart:

cap_daily_7-10-08.png

This market will certainly wear out most. Just be sure to preserve that capital!

Enjoy

Market Speculator

No Position in CAP at time of publication

Last 5 posts in Fundamentals & Charts

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

Leave a Reply