September 2, 2014
As U.S. market professionals returned from their Hamptons vacations today, the S&P slid in early trading, and camped out the rest of the session right around its recent high. It closed at 2,002, pleasing some pundits and worrying others.
As Wall Streeters woke up from their summer naps, the action was apparent in our open trades, as well. A mixed session saw us taking profits in some trades and getting knocked out by our stops in others. We'll recap all of the action in this issue, as well as look at a new trade.Continue Reading »
August 29, 2014
Stocks were just a little better than flat for the week -- but what a lot of volatility we had. The market started off strong and ended flat on both Monday and Tuesday, on Wednesday started flat and ended flat, on Thursday it started much lower on Ukraine news and ended flat, and today it started lower and was pretty flat before shooting up at the end of the day with high volume.
That was quite interesting, because typically going into a long weekend (particularly when there's a lot of tension somewhere in the world), people certainly wouldn't be buying. But they did, so I think you have to be pretty optimistic for the start of next week.
We have had some great positions that have worked out well for us. In today's Trader's Advantage, I'll take a look at our trades and the week ahead in this week's Markman in a Minute podcast. We were able to take partial profits in two positions; I'll provide my second targets for each, and I'm making a couple of other changes as well.Continue Reading »
August 28, 2014
Stocks opened quite a bit lower and, despite attempts to climb higher for much of the day, ultimately closed in the red as well after the Russian military opened up a third Ukrainian front and hackers staged a cyber-attack on several U.S. banks.
Sector-wise, utilities and materials came out strongest while financials and industrials were among the biggest losers. In today's Trader's Advantage, I'll update you on the latest action among our holdings and I'm making a couple of changes to our trade parameters.Continue Reading »
With the markets trading near all-time highs, where do you think the S&P 500 will be at the end of the year?
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