March 7, 2014
This week was a unique one in a lot of ways. The market started out with a bang on Monday -- not a good one, a bad one -- after it was suspected over the weekend that Russia had invaded Crimea and there might be a conflict in the Ukraine. Stocks made a low around noon on Monday, then started to move back up, and on Tuesday there was an expectation that Putin had backed off, so it gapped higher both that day and on Wednesday.
The market then fell back, but the end result was that the S&P ended higher than it did last Friday, so you have to put this week into the 'win' pile for the bulls. In today's Trader's Advantage, we closed one stock position and took half profits on a call option; I'll recap those outcomes, and I'm adjusting the parameters on several of our other trades as well.Continue Reading »
March 6, 2014
Large industrial and financial stocks grinded higher today without much motivation from news or from new economic data, but small-caps and other sectors gently fell for the first time in a while.
It was one of those sessions in which it was hard to pinpoint the motivation behind either buyers or sellers, as the tape was mostly bereft of fresh information.
In today's Trader's Advantage, I'll share my take on the latest political/economic headlines, as well as those areas of the market that are doing particularly well. I have one new recommendation for you today, and new instructions for several existing positions.Continue Reading »
March 5, 2014
Stocks closed mixed on Wednesday. The Dow was dragged down by ExxonMobil (XOM) and its forecast of flat production rates for 2014; that index came in with a 0.2% loss, as did the Russell 2000, while the S&P 500 was down a small fraction of a point and the Nasdaq gained 0.1%.
The major headlines today were economic ones -- namely, negative reads on both the service sector and on private-sector jobs. In today's Trader's Advantage, we were able to purchase all four of last night's New Buys; I'll provide my latest instructions for each of those, as well as the other names on our Buy List.Continue Reading »
Do you think the January pullback will be constructive for markets going forward, or does it signal the end of the prevailing bullish uptrend?
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