March 11, 2014
The broad market incurred another round of volatility in Tuesday's trading session, as each of the major averages finished firmly in the red. The S&P 500 lost 9.5 points, or 0.5%, the Dow Jones closed lower by 67 points, or 0.4%, and the Nasdaq was down 0.6% at the close.
Nine of 10 sectors finished with losses, though the relative strength of technology, health care and consumer staples helped to buoy the market. In today's issue of Trader's Advantage, I have two new short positions to add to our Buy List, and I'll make several adjustments to the parameters of our current recommendations.Continue Reading »
March 10, 2014
Stocks started the Monday session as if they were on a one-way flight to nowhere, sinking as much as 0.5% midday with virtually no leadership. But in the last couple of hours, buyers reappeared and took control at those lows, and vigorously lifted the stocks until the session finished with barely a scrape.
None of the major indexes finished with a gain, but that in itself was without a doubt a victory for the bulls. And that is appropriate, I suppose, considering that this is their birthday week. My, how time flies. It was five years ago this week that the bull market got under way after the S&P 500 sank as low as 666 by 3:30 p.m. ET on the Friday afternoon of March 6, 2009.
In today's issue of Trader's Advantage, I'll explain why I believe the current bull market is far from over, we'll go over one call trade that we took profits in this morning and I'll review the rest of our current positions.Continue Reading »
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 »
Do you think the January pullback will be constructive for markets going forward, or does it signal the end of the prevailing bullish uptrend?
What Subscribers Are Saying