April 23, 2014
The six-day rally came to a halt on Wednesday as disappointing new-home sales provoked a broad-market decline. All in all, the losses came to 0.1% for the Dow, 0.2% for the S&P, 0.8% for the Nasdaq and 0.7% for the Russell 2000 small-caps.
Looking at the key S&P sectors, half closed in the red while the other half managed to scrape out small gains. Telecom was the day's biggest loser by far, declining 2.1%, while energy and industrials outperformed with gains around 0.4%. In today's Trader's Advantage, I'll update you on the latest action in our Buy List, and I'm revising the unfilled buy order for a new trade that gapped up on earnings.Continue Reading »
April 22, 2014
Equities put in another positive day on Tuesday, extending the recovery rally into its sixth consecutive session. The S&P 500 added 8 points, or 0.4%, the Dow Jones closed up by 65 points, or 0.4%, and the Nasdaq added 1% to lead the way higher.
Biotech stocks rebounded once again and contributed to the Nasdaq's outperformance, while health care, consumer discretionary and financials also posted gains. Overall, eight of 10 S&P sectors finished in the green.
In today's issue of Trader's Advantage, I have one new trade to add to our Buy List, and I'm canceling two orders that we have been unable to fill. I'll also review one position that we were stopped out of and another that we took partial profits in, as well as the rest of our current recommendations.Continue Reading »
April 21, 2014
Stocks sauntered around on Monday without much direction, but ultimately finished higher for the fifth straight session. Trading was as quiet as an Easter bunny tiptoeing in cotton socks, as most eurozone markets were still closed for the holiday.
While a pick-up in merger and acquisitions speculation seemed supportive for sentiment and helped a few targeted health care stocks, it was not a meaningful directional driver. In addition, there were no thematic takeaways from the corporate calendar to speak of, though earnings season is expected to dominate the headlines for the rest of the week.
In today's issue of Trader's Advantage, I'll go into more detail about these topics and review the movers and shakers of the day, and we'll also take a look at our current recommendations.Continue Reading »
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