May 28, 2017

Skittish investors spent the morning on Friday clearing out ahead of the long Memorial Day Weekend. Once they got out of Dodge, as they say, the market then stabilized and drifted slightly higher, enabling the NASDAQ Composite Index to post a new closing high on Friday. Volume came in lighter, giving the action the look of constructive consolidation following Thursday’s... [more]

May 24, 2017

The major indexes took four days to recover last Wednesday’s steep one-day losses, something that is not unusual for this Ugly Duckling market. One of the major factors that has enabled the market to maintain its paces has been the ability of certain groups to step up and provide support to the rally at critical points along the way. In many ways, this sort of rotational action is healthy and... [more]

May 21, 2017

This has been a wild week, but from my perspective as a swing-trader it was a good one. The trick was, of course, avoiding the big sell-off on Wednesday where many leading stocks were hit hard, and I mean hard. When this happens and you are long a stock experiencing this type of downside pressure, the urge to pull the rip cord and bail out becomes strongest right at the lows. Despite... [more]

May 17, 2017

Things became quite extended to the upside going into yesterday’s close as many of our favored long names have been jacking higher. But as is often the case in this market, just when things look about as good as they can get the market likes to pull the rug out on investors. That’s what happened this morning as the indexes gapped down at the open and just kept moving lower all day, save... [more]

May 14, 2017

The market looked like it was headed for a spin-out on Thursday as the Dow quickly broke 140 points to the downside early in the day. But as has been the case with intraday sell-offs over the past couple of weeks, the indexes rallied to recover most of their losses by the close. In the midst of all the intraday gyrations, the NASDAQ Composite Index remains in what can only... [more]

May 10, 2017

The broader market has been churning around its highs over the past few days as the NASDAQ Composite Index keeps posting new highs. This has been driven mostly by continued strong action in the big-stock NASDAQ 100 names, including the biggest of the big-stocks, Apple (AAPL). The... [more]

May 7, 2017

Friday’s jobs number came out and the market yawned. The Bureau of Labor Statistics reported 211,000 new non-farm payrolls for April along with a new decline in the unemployment rate to 4.4%. At first the market didn’t know what to make of the number, but after an initial but brief sell-down, the indexes caught some wind in their sails and closed higher across the board on lighter volume. What... [more]

May 3, 2017

Earnings roulette season is in now in full swing, with the biggest of the big-stock tech juggernauts, Apple (AAPL), releasing earnings yesterday. Today, in after-hours trade we have heard from our friends Facebook (FB) and Tesla (TSLA), and both are trading down as I write this afternoon. Adding to the excitement was the Fed’s monthly policy... [more]

April 30, 2017

Huge upside momentum at the start of the week tapered off into a slow stall as the indexes suffered from a bit of the old syndrome.of too far, too fast. The NASDAQ Composite Index came in Monday with a big breakaway gap to all-time highs, and the momentum from that move carried it up through the milestone 6,000 level on Tuesday (I did not, however, see anyone wearing NASDAQ 6000... [more]

April 27, 2017

Last week the crowd thought this market was all about the inability of the Trump Administration to push through its legislative agenda. What the crowd perhaps wasn’t expecting was that it might be all about the French elections held on Sunday. As it turned out, a French round one election outcome that was considered benign sparked a massive futures gap-up move on Monday. This sent the major... [more]