ko - caas, gmcr
due to market condition, swing trade candidates are hard to find :(
oh well.. make hay while there is sunshine :)
Friday, March 26, 2010
27 march 2010 selection, 1/3 wait pullback 1/3 ride it 1/3 in reserve
ok - big, cpla, ctrp, el, gymb, hsni, jas, lz, nflx, prgo, rmd, shoo, vrx
ko - caas, gmcr
due to market condition, swing trade candidates are hard to find :(
oh well.. make hay while there is sunshine :)
ko - caas, gmcr
due to market condition, swing trade candidates are hard to find :(
oh well.. make hay while there is sunshine :)
Stocks Rise, Then Fizzle In Low Volume
For the second straight session, stocks began the day strong, then retreated to a slack finish.
After being up as much as 0.6%, the Nasdaq finished down 0.1% Friday. The S&P 500 and Dow inched up 0.1% each. The NYSE composite tacked on 0.2%.
Volume fell across the board.
The day's chief positive was that the ups and downs occurred in lower volume as the market consolidated its recent run-up.
The stock market didn't panic on news that a South Korean navy ship sank near North Korean waters. The cause was unclear.
Yet good news had little impact as well. Europe came to an agreement on how it would deal with Greece's debt crisis, but the boost from that was short-lived.
Although the market remains in a confirmed uptrend, the recent action — negative reversals and distribution in three of the past six sessions — is raising doubts.
The indexes have climbed to new highs this month and dozens of stocks have broken out, but only a few have risen sharply.
On Friday, action continued to be ho-hum for the leaders.
Such indecisiveness has defined this uptrend, keeping gains and losses in check. The market appears to be waiting for a catalyst that shows true conviction.
In a couple of weeks, earnings season will begin for the first quarter. That could reignite or toss cold water on the uptrend.
Still, there's always the possibility that nothing will significantly move this market. The rules for investing in a directionless market are the same as any other.
Sell any stock that drops 8% below your buy point. Don't let gains cycle into losses. Buy only during a market uptrend, and lock in gains in individual stocks when the chart gives sell signals.
The Dow was up 1% for the week, the Nasdaq 0.9%, the S&P 500 0.6% and the NYSE composite 0.2%.
After being up as much as 0.6%, the Nasdaq finished down 0.1% Friday. The S&P 500 and Dow inched up 0.1% each. The NYSE composite tacked on 0.2%.
Volume fell across the board.
The day's chief positive was that the ups and downs occurred in lower volume as the market consolidated its recent run-up.
The stock market didn't panic on news that a South Korean navy ship sank near North Korean waters. The cause was unclear.
Yet good news had little impact as well. Europe came to an agreement on how it would deal with Greece's debt crisis, but the boost from that was short-lived.
Although the market remains in a confirmed uptrend, the recent action — negative reversals and distribution in three of the past six sessions — is raising doubts.
The indexes have climbed to new highs this month and dozens of stocks have broken out, but only a few have risen sharply.
On Friday, action continued to be ho-hum for the leaders.
Such indecisiveness has defined this uptrend, keeping gains and losses in check. The market appears to be waiting for a catalyst that shows true conviction.
In a couple of weeks, earnings season will begin for the first quarter. That could reignite or toss cold water on the uptrend.
Still, there's always the possibility that nothing will significantly move this market. The rules for investing in a directionless market are the same as any other.
Sell any stock that drops 8% below your buy point. Don't let gains cycle into losses. Buy only during a market uptrend, and lock in gains in individual stocks when the chart gives sell signals.
The Dow was up 1% for the week, the Nasdaq 0.9%, the S&P 500 0.6% and the NYSE composite 0.2%.
Kitty Werthmann tells a powerful story about growing up during the third reich
http://sayanythingblog.com/readers/entry/kitty_werthmann_tells_a_powerful_story_about_growing_up_during_the_third_re
By Last Best Hope on February 22, 2010 at 04:04 am
Totalitarianism didn’t come quickly,it took 5 years after 1938 to realize full dictatorship
—————-
“What I am about to tell you is something you’ve probably never heard, nor will ever read in history books. I believe that I am an eyewitness to history.
I will not tell you that the German chancellor took Austria by tanks and guns. I will not distort history. We Austrians elected him by a landslide – 98% of the vote. I’ve never read that in any American publication. Everyone thinks that the Germans rolled in with tanks and took Austria by force. Not at all.
In 1938, Austria was in deep depression. Nearly one-third of our workforce was unemployed. We had 25% inflation and 25% bank loan interest rates.
Farmers and business people were declaring bankruptcy daily.Young people were going from house to house begging for food. Not that they didn’t want to work; there simply weren’t any jobs. My mother was a kind Christian woman and believed in helping people in need. Every day we cooked a big kettle of soup and baked bread to feed those poor, hungry people – about 30 daily.
The Communist Party and the National Socialist Party were fighting each other. Blocks and blocks in cities like Vienna, Linz, and Graz were destroyed.The people became desperate and petitioned the government to let them decide what kind of government they wanted.
We looked to our neighbor on the north, Germany, where Hitler had been in power since 1933. We had been told that they didn’t have employment or crime, and they had a high standard of living. Nothing was ever said about persecution of any group— Jewish or otherwise. We were led to believe that everyone was happy. We wanted the same way of life in Austria.
We were promised that a vote for Hitler would mean the end of unemployment and help for the family. Hitler said that businesses would be assisted, and farmers would get their farms back. Ninety-eight percent of the population voted to annex Austria to Germany and have Hitler for our ruler.
We were overjoyed, and for three days we danced in the streets and had candlelight parades. The new government opened up big field kitchens and everyone was fed.
After the election, German officials were appointed, and like a miracle, we suddenly had law and order. Three or four weeks later, everyone was employed. The government made sure that a lot of work was created through the Public Work Service.
Hitler decided we should have equal rights for women. Before this, it was a custom that married Austrian women did not work outside the home. An able-bodied husband would be looked down on if he couldn’t support his family. Many women in the teaching profession were elated that they could return to the jobs they previously had been required to give up for marriage.
Hitler Targets Education – Eliminates Religious Instruction for Children:
Our education was nationalized. I attended a very good public school. The population was predominantly Catholic, so we had religion in our schools. The day we elected Hitler (March 13, 1938), I walked into my schoolroom to find the crucifix replaced by Hitler’s picture hanging next to a Nazi flag. Our teacher, a very devout woman, stood up and told the class we wouldn’t pray or have religion anymore. Instead, we sang “Deutschland, Deutschland, Uber Alles,” (Germany, Germany, Over All) and had physical education.
Sunday became National Youth Day with compulsory attendance. Parents were not pleased about the sudden change in curriculum. They were told that if they did not send us, they would receive a stiff letter of warning the first time. The second time they would be fined the equivalent of $300, and the third time they would be subject to jail. The first two hours consisted of political indoctrination. The rest of the day we had sports. As time went along, we loved it. Oh, we had so much fun and got our sports equipment free. We would go home and gleefully tell our parents about the wonderful time we had.
My mother was very unhappy. When the next term started, she took me out of public school and put me in a convent. I told her she couldn’t do that and she told me that someday when I grew up, I would be grateful.
There was a very good curriculum, but hardly any fun – no sports, and no political indoctrination. I hated it at first but felt I could tolerate it. Every once in a while, on holidays, I went home. I would go back to my old friends and ask what was going on and what they were doing. Their loose lifestyle was very alarming to me. They lived without religion. By that time unwed mothers were glorified for having a baby for Hitler. It seemed strange to me that our society changed so suddenly. As time went along, I realized what a great deed my mother did so that I wasn’t exposed to that kind of big-brother philosophy.
Equal Rights Hits Home:
In 1939, the war started and a food bank was established. All food was rationed and could only be purchased using food stamps. At the same time, a full-employment law was passed which meant if you didn’t work, you didn’t get a ration card, and if you didn’t have a card, you starved. Women who stayed home to raise their families didn’t have any marketable skills and often had to take jobs more suited for men.
Soon after this, the draft was implemented. It was compulsory for young people, male and female, to give one year to the labor corps. During the day, the girls worked on the farms, and at night they returned to their barracks for military training just like the boys. They were trained to be anti-aircraft gunners and to participate in the signal corps. After the labor corps, they were not discharged but were used in the front lines. When I go back to Austria to visit my family and friends, most of these women are emotional cripples because they just were not equipped to handle the horrors of combat. Three months before I turned 18, I was severely injured in an air raid attack. I nearly had a leg amputated, so I was spared having to go into the labor corps and into military service.
Hitler Restructured the Family Through Daycare:
When the mothers had to go out into the work force, the government immediately established child care centers. You could take your children ages 4 weeks to school age and leave them there around-the-clock, 7 days a week, under the total care of the government. The state raised a whole generation of children. There were no motherly women to take care of the children, just people highly trained in child psychology. By this time, no one talked about equal rights. We knew that we had been had.
Health Care and Small Business Suffer Under Government Controls:
Before Hitler, we had very good medical care. Many American doctors trained at the University of Vienna. After Hitler, health care was socialized, free for everyone. Doctors were salaried by the government. The problem was, since it was free, the people were going to the doctors for everything.
When the good doctor arrived at his office at 8 a.m., 40 people were already waiting and, at the same time, the hospitals were full. If you needed elective surgery, you had to wait a year or two for your turn. There was no money for research as it was poured into our daily medicine. Research at the medical schools literally stopped, so the best doctors left Austria and emigrated to other countries.
As for healthcare, our tax rates went up to 80% of our income. Newlyweds immediately received a $1,000 loan from the government to establish a household. We had big programs for families. All day care and education were free. High schools were taken over by the government and college tuition was subsidized. Everyone was entitled to free handouts, such as food stamps, clothing, and housing.
We had another agency designed to monitor business. My brother-in-law owned a restaurant that had square tables. Government inspectors told him he had to replace them with round tables because people might bump themselves on the corners. Then they said he had to have additional bathroom facilities. It was just a small dairy business with a snack bar. He couldn’t meet all the demands. Soon, he went out of business. Since the government owned the large businesses and not many small ones existed, it was in control.
We had consumer protection. We were told how to shop and what to buy. Free enterprise was essentially abolished. We had a planning agency specially designed for farmers. The bureaucrats would go to the farms, count the live-stock, then tell the farmers what to produce, and how to produce it.
“Mercy Killing” Redefined:
In 1944, I was a student teacher in a small village in the Alps. The villagers were surrounded by mountain passes which, in the winter, were closed off with snow, causing people to be isolated. So people intermarried and offspring were sometimes retarded. When I arrived, I was told there were 15 mentally retarded adults, but they were all useful and did good manual work. I knew one, named Vincent, very well.
He was a janitor of the school. One day I looked out the window and saw Vincent and others getting into a van. I asked my superior where they were going. She said that they were going to an institution where the State Health Department would teach them a trade, and to read and write. The families were required to sign papers with a little clause that they could not visit for 6 months. They were told visits would interfere with the program and might cause homesickness.
As time passed, letters started to come saying that these people died a natural, merciful death. The villagers were not fooled. We suspected what was happening. Those people left in excellent physical health and all died within 6 months. It was euthanasia.
The Final Steps - Gun Laws:
Next came gun registration. People were getting injured by guns. Hitler said that the real way to catch criminals (we still had a few) was by matching serial numbers on guns. Most citizens were law abiding and dutifully marched to the police station to register their firearms. Not long afterwards, the police said that it was best for everyone to turn in their guns. The authorities already knew who had them, so it was futile not to comply voluntarily.
Freedom of speech was diminished by various regulations. Eventually, anyone who said something against the government was taken away. We knew many people who were arrested, not only Jews, but also priests and ministers who spoke up.
Totalitarianism didn’t come quickly, it took 5 years after 1938 to realize full dictatorship in Austria. Had it happened overnight, my countrymen would have fought it to the last breath. Instead, we had creeping gradualism. In 1943, our only weapons were broom handles. The whole idea is unbelievable now, that the state, little by little can take away our freedom.
After World War II, Russian troops occupied Austria. Women were raped, pre-teen to elderly. The press never wrote about this either. When the Soviets left in 1955, they took everything that they could, dismantling whole factories in the process. They sawed down whole orchards of fruit, and what they couldn’t destroy, they burned. We called it “The Burned Earth”. Most of the population barricaded themselves in their houses. Women hid in their cellars for 6 weeks in order to be safe. Those who couldn’t, paid the price. There is a monument in Vienna today, dedicated to those women who were massacred by the Russians. This is an eye witness account.
Those of us who sailed past the Statue of Liberty came to a country of unbelievable freedom and opportunity. America truly is the greatest country in the world. We mustn’t let freedom slip away.”
By Last Best Hope on February 22, 2010 at 04:04 am
Totalitarianism didn’t come quickly,it took 5 years after 1938 to realize full dictatorship
—————-
“What I am about to tell you is something you’ve probably never heard, nor will ever read in history books. I believe that I am an eyewitness to history.
I will not tell you that the German chancellor took Austria by tanks and guns. I will not distort history. We Austrians elected him by a landslide – 98% of the vote. I’ve never read that in any American publication. Everyone thinks that the Germans rolled in with tanks and took Austria by force. Not at all.
In 1938, Austria was in deep depression. Nearly one-third of our workforce was unemployed. We had 25% inflation and 25% bank loan interest rates.
Farmers and business people were declaring bankruptcy daily.Young people were going from house to house begging for food. Not that they didn’t want to work; there simply weren’t any jobs. My mother was a kind Christian woman and believed in helping people in need. Every day we cooked a big kettle of soup and baked bread to feed those poor, hungry people – about 30 daily.
The Communist Party and the National Socialist Party were fighting each other. Blocks and blocks in cities like Vienna, Linz, and Graz were destroyed.The people became desperate and petitioned the government to let them decide what kind of government they wanted.
We looked to our neighbor on the north, Germany, where Hitler had been in power since 1933. We had been told that they didn’t have employment or crime, and they had a high standard of living. Nothing was ever said about persecution of any group— Jewish or otherwise. We were led to believe that everyone was happy. We wanted the same way of life in Austria.
We were promised that a vote for Hitler would mean the end of unemployment and help for the family. Hitler said that businesses would be assisted, and farmers would get their farms back. Ninety-eight percent of the population voted to annex Austria to Germany and have Hitler for our ruler.
We were overjoyed, and for three days we danced in the streets and had candlelight parades. The new government opened up big field kitchens and everyone was fed.
After the election, German officials were appointed, and like a miracle, we suddenly had law and order. Three or four weeks later, everyone was employed. The government made sure that a lot of work was created through the Public Work Service.
Hitler decided we should have equal rights for women. Before this, it was a custom that married Austrian women did not work outside the home. An able-bodied husband would be looked down on if he couldn’t support his family. Many women in the teaching profession were elated that they could return to the jobs they previously had been required to give up for marriage.
Hitler Targets Education – Eliminates Religious Instruction for Children:
Our education was nationalized. I attended a very good public school. The population was predominantly Catholic, so we had religion in our schools. The day we elected Hitler (March 13, 1938), I walked into my schoolroom to find the crucifix replaced by Hitler’s picture hanging next to a Nazi flag. Our teacher, a very devout woman, stood up and told the class we wouldn’t pray or have religion anymore. Instead, we sang “Deutschland, Deutschland, Uber Alles,” (Germany, Germany, Over All) and had physical education.
Sunday became National Youth Day with compulsory attendance. Parents were not pleased about the sudden change in curriculum. They were told that if they did not send us, they would receive a stiff letter of warning the first time. The second time they would be fined the equivalent of $300, and the third time they would be subject to jail. The first two hours consisted of political indoctrination. The rest of the day we had sports. As time went along, we loved it. Oh, we had so much fun and got our sports equipment free. We would go home and gleefully tell our parents about the wonderful time we had.
My mother was very unhappy. When the next term started, she took me out of public school and put me in a convent. I told her she couldn’t do that and she told me that someday when I grew up, I would be grateful.
There was a very good curriculum, but hardly any fun – no sports, and no political indoctrination. I hated it at first but felt I could tolerate it. Every once in a while, on holidays, I went home. I would go back to my old friends and ask what was going on and what they were doing. Their loose lifestyle was very alarming to me. They lived without religion. By that time unwed mothers were glorified for having a baby for Hitler. It seemed strange to me that our society changed so suddenly. As time went along, I realized what a great deed my mother did so that I wasn’t exposed to that kind of big-brother philosophy.
Equal Rights Hits Home:
In 1939, the war started and a food bank was established. All food was rationed and could only be purchased using food stamps. At the same time, a full-employment law was passed which meant if you didn’t work, you didn’t get a ration card, and if you didn’t have a card, you starved. Women who stayed home to raise their families didn’t have any marketable skills and often had to take jobs more suited for men.
Soon after this, the draft was implemented. It was compulsory for young people, male and female, to give one year to the labor corps. During the day, the girls worked on the farms, and at night they returned to their barracks for military training just like the boys. They were trained to be anti-aircraft gunners and to participate in the signal corps. After the labor corps, they were not discharged but were used in the front lines. When I go back to Austria to visit my family and friends, most of these women are emotional cripples because they just were not equipped to handle the horrors of combat. Three months before I turned 18, I was severely injured in an air raid attack. I nearly had a leg amputated, so I was spared having to go into the labor corps and into military service.
Hitler Restructured the Family Through Daycare:
When the mothers had to go out into the work force, the government immediately established child care centers. You could take your children ages 4 weeks to school age and leave them there around-the-clock, 7 days a week, under the total care of the government. The state raised a whole generation of children. There were no motherly women to take care of the children, just people highly trained in child psychology. By this time, no one talked about equal rights. We knew that we had been had.
Health Care and Small Business Suffer Under Government Controls:
Before Hitler, we had very good medical care. Many American doctors trained at the University of Vienna. After Hitler, health care was socialized, free for everyone. Doctors were salaried by the government. The problem was, since it was free, the people were going to the doctors for everything.
When the good doctor arrived at his office at 8 a.m., 40 people were already waiting and, at the same time, the hospitals were full. If you needed elective surgery, you had to wait a year or two for your turn. There was no money for research as it was poured into our daily medicine. Research at the medical schools literally stopped, so the best doctors left Austria and emigrated to other countries.
As for healthcare, our tax rates went up to 80% of our income. Newlyweds immediately received a $1,000 loan from the government to establish a household. We had big programs for families. All day care and education were free. High schools were taken over by the government and college tuition was subsidized. Everyone was entitled to free handouts, such as food stamps, clothing, and housing.
We had another agency designed to monitor business. My brother-in-law owned a restaurant that had square tables. Government inspectors told him he had to replace them with round tables because people might bump themselves on the corners. Then they said he had to have additional bathroom facilities. It was just a small dairy business with a snack bar. He couldn’t meet all the demands. Soon, he went out of business. Since the government owned the large businesses and not many small ones existed, it was in control.
We had consumer protection. We were told how to shop and what to buy. Free enterprise was essentially abolished. We had a planning agency specially designed for farmers. The bureaucrats would go to the farms, count the live-stock, then tell the farmers what to produce, and how to produce it.
“Mercy Killing” Redefined:
In 1944, I was a student teacher in a small village in the Alps. The villagers were surrounded by mountain passes which, in the winter, were closed off with snow, causing people to be isolated. So people intermarried and offspring were sometimes retarded. When I arrived, I was told there were 15 mentally retarded adults, but they were all useful and did good manual work. I knew one, named Vincent, very well.
He was a janitor of the school. One day I looked out the window and saw Vincent and others getting into a van. I asked my superior where they were going. She said that they were going to an institution where the State Health Department would teach them a trade, and to read and write. The families were required to sign papers with a little clause that they could not visit for 6 months. They were told visits would interfere with the program and might cause homesickness.
As time passed, letters started to come saying that these people died a natural, merciful death. The villagers were not fooled. We suspected what was happening. Those people left in excellent physical health and all died within 6 months. It was euthanasia.
The Final Steps - Gun Laws:
Next came gun registration. People were getting injured by guns. Hitler said that the real way to catch criminals (we still had a few) was by matching serial numbers on guns. Most citizens were law abiding and dutifully marched to the police station to register their firearms. Not long afterwards, the police said that it was best for everyone to turn in their guns. The authorities already knew who had them, so it was futile not to comply voluntarily.
Freedom of speech was diminished by various regulations. Eventually, anyone who said something against the government was taken away. We knew many people who were arrested, not only Jews, but also priests and ministers who spoke up.
Totalitarianism didn’t come quickly, it took 5 years after 1938 to realize full dictatorship in Austria. Had it happened overnight, my countrymen would have fought it to the last breath. Instead, we had creeping gradualism. In 1943, our only weapons were broom handles. The whole idea is unbelievable now, that the state, little by little can take away our freedom.
After World War II, Russian troops occupied Austria. Women were raped, pre-teen to elderly. The press never wrote about this either. When the Soviets left in 1955, they took everything that they could, dismantling whole factories in the process. They sawed down whole orchards of fruit, and what they couldn’t destroy, they burned. We called it “The Burned Earth”. Most of the population barricaded themselves in their houses. Women hid in their cellars for 6 weeks in order to be safe. Those who couldn’t, paid the price. There is a monument in Vienna today, dedicated to those women who were massacred by the Russians. This is an eye witness account.
Those of us who sailed past the Statue of Liberty came to a country of unbelievable freedom and opportunity. America truly is the greatest country in the world. We mustn’t let freedom slip away.”
Thursday, March 25, 2010
Negative Reversal Dashes Day's Early Bullish Action
The bulls were in charge early Thursday, but an apparent setback in Greece's debt crisis at midday sent the indexes tumbling.
Strong early gains stalled in mid-afternoon trade, first cutting the froth off the gains and then turning the indexes to losses on all but the Dow.
The NYSE composite slid 0.3%. The S&P 500 lost just under 0.2%. The Nasdaq edged down 0.1% and the Dow rose fractionally.
Volume was up on both major exchanges.
For the third time in the past five sessions, the market suffered distribution. The NYSE composite added another day of higher-volume losses to its count. The other indexes' losses were meager.
Still, the day's stalling action was bearish, even for the indexes that escaped outright distribution.
More days of institutional selling over the next couple of weeks could put the market's uptrend in question.
Strong earnings reports from Best Buy (BBY) and a sunny outlook from Qualcomm (QCOM) drove the early bullish action. Stocks also found help from better-than-expected jobless claims numbers and a report that France and Germany reached an agreement on a bailout for Greece.
The dollar weakened on the Greece news, boosting stocks.
But the report of a French-German agreement was undercut when European Central Bank President Jean-Claude Trichet said an IMF role in the bailout would be a bad precedent. That revived anxieties about the debt crisis. The dollar began to rise at midsession after Trichet's comment, and stocks started to struggle.
It was mostly down from there.
Some top-rated stocks notched sizable gains, but the technical action was flawed. Many gapped up but then finished low in the day's range. Some broke out and then slid underneath their buy points. A few held most of their gains.
Strong early gains stalled in mid-afternoon trade, first cutting the froth off the gains and then turning the indexes to losses on all but the Dow.
The NYSE composite slid 0.3%. The S&P 500 lost just under 0.2%. The Nasdaq edged down 0.1% and the Dow rose fractionally.
Volume was up on both major exchanges.
For the third time in the past five sessions, the market suffered distribution. The NYSE composite added another day of higher-volume losses to its count. The other indexes' losses were meager.
Still, the day's stalling action was bearish, even for the indexes that escaped outright distribution.
More days of institutional selling over the next couple of weeks could put the market's uptrend in question.
Strong earnings reports from Best Buy (BBY) and a sunny outlook from Qualcomm (QCOM) drove the early bullish action. Stocks also found help from better-than-expected jobless claims numbers and a report that France and Germany reached an agreement on a bailout for Greece.
The dollar weakened on the Greece news, boosting stocks.
But the report of a French-German agreement was undercut when European Central Bank President Jean-Claude Trichet said an IMF role in the bailout would be a bad precedent. That revived anxieties about the debt crisis. The dollar began to rise at midsession after Trichet's comment, and stocks started to struggle.
It was mostly down from there.
Some top-rated stocks notched sizable gains, but the technical action was flawed. Many gapped up but then finished low in the day's range. Some broke out and then slid underneath their buy points. A few held most of their gains.
Wednesday, March 24, 2010
Stocks Shrug Off Snags, End Higher In Mixed Trade
A late surge pushed indexes to close near session peaks Tuesday as all major indexes made closing highs for the year.
The Dow led, gaining 1%, with Caterpillar (CAT) heading the industrials. The NYSE and Nasdaq shared a 0.8% gain, pushing the Nasdaq to a 19-month high. The S&P 500 climbed 0.7% to a 17-month high. The NYSE composite made a new closing high for 2010, the first since Jan. 11.
Advancers outpaced declining stocks by about 2-to-1 for a second straight day.
Trading was lighter through most of the day. But the late surge pushed NYSE volume above Monday's total. Nasdaq volume ended a fraction lower.
As on Monday, markets rose despite early pressure from a rising dollar. Sovereign-debt problems in Europe continue to hurt the euro. But the dollar pared its gains as the session advanced, tracing a trajectory similar to Monday's.
Indexes flinched briefly at mid-morning after the National Association of Realtors reported existing home sales slipped in February as foreclosures rumbled ahead. The sales decline was less than expected, but the inventory of unsold homes swelled by 9.5%, the biggest jump in two years.
That raised the number of homes available for sale to an 8.6-month supply. The association's top economist called the increase in supply "unusual" and "discomforting," saying a 10-month supply would point to further declines in home prices.
In a jittery market, the news would have been enough to hurt stocks. Instead, homebuilders advanced.
The news was better for mining companies.
Mining equipment makers also rose on the news
The Dow led, gaining 1%, with Caterpillar (CAT) heading the industrials. The NYSE and Nasdaq shared a 0.8% gain, pushing the Nasdaq to a 19-month high. The S&P 500 climbed 0.7% to a 17-month high. The NYSE composite made a new closing high for 2010, the first since Jan. 11.
Advancers outpaced declining stocks by about 2-to-1 for a second straight day.
Trading was lighter through most of the day. But the late surge pushed NYSE volume above Monday's total. Nasdaq volume ended a fraction lower.
As on Monday, markets rose despite early pressure from a rising dollar. Sovereign-debt problems in Europe continue to hurt the euro. But the dollar pared its gains as the session advanced, tracing a trajectory similar to Monday's.
Indexes flinched briefly at mid-morning after the National Association of Realtors reported existing home sales slipped in February as foreclosures rumbled ahead. The sales decline was less than expected, but the inventory of unsold homes swelled by 9.5%, the biggest jump in two years.
That raised the number of homes available for sale to an 8.6-month supply. The association's top economist called the increase in supply "unusual" and "discomforting," saying a 10-month supply would point to further declines in home prices.
In a jittery market, the news would have been enough to hurt stocks. Instead, homebuilders advanced.
The news was better for mining companies.
Mining equipment makers also rose on the news
Friday, March 19, 2010
Stocks Tumble As Witching Lifts Trade
The new market uptrend faced its first serious loss Friday as stocks sold off while volume ballooned in a quadruple witching session.
The NYSE composite carved off 0.8%, the Nasdaq 0.7%, the S&P 500 0.5% and the Dow 0.3%.
Volume was up sharply on both major exchanges. Quadruple witching is the quarterly expiration of futures and options. It often leads to increased volatility and higher volume.
The action slapped all four major indexes with a distribution day. It was the first instance of institutional selling since the Nasdaq confirmed on March 1 that an uptrend was under way.
A distribution day is a price decline in a major index in higher volume than the prior session.
Although it points to institutional selling, a single day of distribution alone is not particularly worrisome. Also, the witching inflated volume Friday.
The market remains in a confirmed uptrend.
Indexes had been slowly climbing despite a load of worries.
Greece returned to the front burner Friday as a dispute developed in Europe on a potential bailout. Germany prefers that a bailout come from the International Monetary Fund. France advocates a European solution. The dollar strengthened vs. the euro on the uncertainty.
The rise in the dollar hurt most commodities. For the day, HMO and hospital stocks did well while oil, gold miners and semiconductor stocks fell.
Goldman Sachs added to the anxiety Friday when it cut estimates for banks and brokerages.
Meanwhile, India's central bank unexpectedly raised interest rates. This sharpened concerns that other nations will have to join the inflation fight, perhaps slowing the economic recovery. Earlier this month, Australia and Malaysia raised interest rates.
As President Obama's health legislation chugged toward a vote, industrial equipment maker Caterpillar (CAT) warned that the plan would cost the company $100 million in the first year alone.
The Dow added 1.1% for the week, the S&P 500 0.9%, and the Nasdaq and the NYSE composite 0.3% each.
The NYSE composite carved off 0.8%, the Nasdaq 0.7%, the S&P 500 0.5% and the Dow 0.3%.
Volume was up sharply on both major exchanges. Quadruple witching is the quarterly expiration of futures and options. It often leads to increased volatility and higher volume.
The action slapped all four major indexes with a distribution day. It was the first instance of institutional selling since the Nasdaq confirmed on March 1 that an uptrend was under way.
A distribution day is a price decline in a major index in higher volume than the prior session.
Although it points to institutional selling, a single day of distribution alone is not particularly worrisome. Also, the witching inflated volume Friday.
The market remains in a confirmed uptrend.
Indexes had been slowly climbing despite a load of worries.
Greece returned to the front burner Friday as a dispute developed in Europe on a potential bailout. Germany prefers that a bailout come from the International Monetary Fund. France advocates a European solution. The dollar strengthened vs. the euro on the uncertainty.
The rise in the dollar hurt most commodities. For the day, HMO and hospital stocks did well while oil, gold miners and semiconductor stocks fell.
Goldman Sachs added to the anxiety Friday when it cut estimates for banks and brokerages.
Meanwhile, India's central bank unexpectedly raised interest rates. This sharpened concerns that other nations will have to join the inflation fight, perhaps slowing the economic recovery. Earlier this month, Australia and Malaysia raised interest rates.
As President Obama's health legislation chugged toward a vote, industrial equipment maker Caterpillar (CAT) warned that the plan would cost the company $100 million in the first year alone.
The Dow added 1.1% for the week, the S&P 500 0.9%, and the Nasdaq and the NYSE composite 0.3% each.
Thursday, March 18, 2010
Indexes Mixed; Leaders, Volume Quiet
Volume eased Thursday as two of the four major indexes fell and the market continued its slow, steady uptrend.
The NYSE composite skidded 0.4%, while the S&P 500 fell fractionally. The Nasdaq added 0.1%, and the Dow rose 0.4%.
From a technical angle, those two declines were positive action. Since the March 1 follow-through day, at least one major index has shown accumulation in seven of the 14 sessions. Not one day has seen distribution.
That suggests institutional investors aren't eager to take profits.
For most leaders, it was a quiet session. Among the few top-rated stocks that moved in heavy volume, more fell than rose.
With no evidence of institutional selling, the market remains in a confirmed uptrend. Dozens of stocks have broken out since March 1, but only a handful have made double-digit gains.
One of the best-performing industry groups recently is career schools. Four stocks carry a best-possible 99 EPS Rating: DeVry (DV), Grand Canyon Education (LOPE), ITT Educational Services (ESI) and Capella Education (CPLA).
Economic news was generally positive Thursday. Inflation was lower than expected, leading indicators matched views, and the Philadelphia manufacturing index topped the consensus estimate. Jobless claims, though, were a little worse than expected.
Greece continued its back-and-forth economic soap opera — this time saying it might turn to the International Monetary Fund for a bailout if Europe doesn't provide one.
That weakened the euro, boosted the dollar and sent oil into retreat.
Gold futures and other precious metals also declined.
Among industry groups, medical stocks were among the day's leaders as President Obama pushed for passage of health legislation. The massive, 2,300-page bill will inevitably pick winners and losers, but it isn't clear yet who they will be or whether the legislation will pass Congress and then survive legal challenges.
Posted 05:11 PM ET U.S. Stocks Quiet After Hours; Witching Ahead
Few leading stocks were active in evening trading Thursday as the market looked to a quadruple witching session Friday.
The simultaneous expiration of contracts for stock index futures, stock index options, stock options and single stock futures occurs only four times a year. It usually results in volatile trading and higher volume.
The NYSE composite skidded 0.4%, while the S&P 500 fell fractionally. The Nasdaq added 0.1%, and the Dow rose 0.4%.
From a technical angle, those two declines were positive action. Since the March 1 follow-through day, at least one major index has shown accumulation in seven of the 14 sessions. Not one day has seen distribution.
That suggests institutional investors aren't eager to take profits.
For most leaders, it was a quiet session. Among the few top-rated stocks that moved in heavy volume, more fell than rose.
With no evidence of institutional selling, the market remains in a confirmed uptrend. Dozens of stocks have broken out since March 1, but only a handful have made double-digit gains.
One of the best-performing industry groups recently is career schools. Four stocks carry a best-possible 99 EPS Rating: DeVry (DV), Grand Canyon Education (LOPE), ITT Educational Services (ESI) and Capella Education (CPLA).
Economic news was generally positive Thursday. Inflation was lower than expected, leading indicators matched views, and the Philadelphia manufacturing index topped the consensus estimate. Jobless claims, though, were a little worse than expected.
Greece continued its back-and-forth economic soap opera — this time saying it might turn to the International Monetary Fund for a bailout if Europe doesn't provide one.
That weakened the euro, boosted the dollar and sent oil into retreat.
Gold futures and other precious metals also declined.
Among industry groups, medical stocks were among the day's leaders as President Obama pushed for passage of health legislation. The massive, 2,300-page bill will inevitably pick winners and losers, but it isn't clear yet who they will be or whether the legislation will pass Congress and then survive legal challenges.
Posted 05:11 PM ET U.S. Stocks Quiet After Hours; Witching Ahead
Few leading stocks were active in evening trading Thursday as the market looked to a quadruple witching session Friday.
The simultaneous expiration of contracts for stock index futures, stock index options, stock options and single stock futures occurs only four times a year. It usually results in volatile trading and higher volume.
Wednesday, March 17, 2010
where is the pullback & how long breakout can last? no idea!
new high - PEGA & EPE
swing trade - ENI & BLK
careful though.. no doubt some info here posted are from free websites. but to find info, it was via paid subscription with combination of FA & TA
swing trade - ENI & BLK
careful though.. no doubt some info here posted are from free websites. but to find info, it was via paid subscription with combination of FA & TA
Tuesday, March 16, 2010
Nasdaq, S&P Reach New Highs, But Leaders Quiet
The Nasdaq and S&P 500 rose to their highest levels in more than 17 months as the Federal Reserve's latest outlook encouraged the stock market Tuesday.
Stocks were up even before the Fed's afternoon announcement. After some volatility on the news, the major indexes rallied and closed near the day's highs.
The S&P 500 gained 0.8%, surpassing its January highs around 1150. The index also reached the highest level since October 2008. The Nasdaq advanced 0.7%, making its highest close since Aug. 28, 2008.
The NYSE composite jumped 1% as metals, energy and financials helped lead the market. The Dow climbed 0.4%.
Volume rose across the board, firming up the day's wins. In fact, nary a distribution day has occurred since the market follow-through on March 1.
Rather than stumbling on higher-volume declines, the market has notched several gains in higher volume, indicating institutional buying. Since the follow-through rally confirmation, the Nasdaq has four up days in higher volume, the S&P 500 has notched six and the NYSE seven.
But while the indexes acted bullishly Tuesday, leading stocks were generally quiet.
Some leaders that have been sluggish since their breakouts continued their lassitude.
Green Mountain Coffee Roasters (GMCR), Priceline (PCLN), Intuitive Surgical (ISRG)and Blue Coat Systems (BCSI) are some examples.
These are some upper-crust stocks that have been consolidating their recent gains. Still, dormant action isn't necessarily a sign of weakness, and few leaders have flashed sell signals.
A number of other leaders are making fruitful advances, such as Lululemon (LULU), Baidu (BIDU), Deckers Outdoor (DECK) and F5 Networks (FFIV).
Early Tuesday, the Commerce Department reported that housing starts slid 5.9% in February, but the figure was above forecasts. Homebuilders were among the day's best-performing industries. Embattled Greece cleared a hurdle as Standard & Poor's backed its deficit-reduction plan.
As expected, the Fed left interest rates unchanged and again said it planned to keep them near zero for an "extended period." The central bank saw business spending picking up and the job market "stabilizing."
The statement sent bond yields lower, which in turn hurt the dollar. With the greenback sliding, commodities climbed.
Posted 05:13 PM ET
Stocks were calm in after-hours trade Tuesday, following a solid finish in improved volume.
Investors will find no highly ranked stocks reporting late Tuesday or early Wednesday.
Upcoming economic reports are also minimal. The only major news to watch before tomorrow's open is the producer price index, which is scheduled to be released at 8:30 a.m. EDT. Consensus estimates for the month-to-month result are running at -0.2%. Excluding food and energy, analysts expect a rise of 0.1%.
Stocks were up even before the Fed's afternoon announcement. After some volatility on the news, the major indexes rallied and closed near the day's highs.
The S&P 500 gained 0.8%, surpassing its January highs around 1150. The index also reached the highest level since October 2008. The Nasdaq advanced 0.7%, making its highest close since Aug. 28, 2008.
The NYSE composite jumped 1% as metals, energy and financials helped lead the market. The Dow climbed 0.4%.
Volume rose across the board, firming up the day's wins. In fact, nary a distribution day has occurred since the market follow-through on March 1.
Rather than stumbling on higher-volume declines, the market has notched several gains in higher volume, indicating institutional buying. Since the follow-through rally confirmation, the Nasdaq has four up days in higher volume, the S&P 500 has notched six and the NYSE seven.
But while the indexes acted bullishly Tuesday, leading stocks were generally quiet.
Some leaders that have been sluggish since their breakouts continued their lassitude.
Green Mountain Coffee Roasters (GMCR), Priceline (PCLN), Intuitive Surgical (ISRG)and Blue Coat Systems (BCSI) are some examples.
These are some upper-crust stocks that have been consolidating their recent gains. Still, dormant action isn't necessarily a sign of weakness, and few leaders have flashed sell signals.
A number of other leaders are making fruitful advances, such as Lululemon (LULU), Baidu (BIDU), Deckers Outdoor (DECK) and F5 Networks (FFIV).
Early Tuesday, the Commerce Department reported that housing starts slid 5.9% in February, but the figure was above forecasts. Homebuilders were among the day's best-performing industries. Embattled Greece cleared a hurdle as Standard & Poor's backed its deficit-reduction plan.
As expected, the Fed left interest rates unchanged and again said it planned to keep them near zero for an "extended period." The central bank saw business spending picking up and the job market "stabilizing."
The statement sent bond yields lower, which in turn hurt the dollar. With the greenback sliding, commodities climbed.
Posted 05:13 PM ET
Stocks were calm in after-hours trade Tuesday, following a solid finish in improved volume.
Investors will find no highly ranked stocks reporting late Tuesday or early Wednesday.
Upcoming economic reports are also minimal. The only major news to watch before tomorrow's open is the producer price index, which is scheduled to be released at 8:30 a.m. EDT. Consensus estimates for the month-to-month result are running at -0.2%. Excluding food and energy, analysts expect a rise of 0.1%.
Friday, March 12, 2010
Stocks End Nearly Flat; Volume Is Mixed
The indexes hovered around the break-even point much of Friday's session before settling narrowly mixed.
The NYSE composite and the Dow added 0.1% each. The S&P 500 and the Nasdaq were both fractionally lower.
Volume fell 4% on the Nasdaq and rose 7% on the NYSE. It was the second time last week that the NYSE composite and Dow indexes, neither of which is leading this uptrend, stalled with tiny gains in higher volume.
In Friday's edition, we noted that the S&P 500 was approaching a technical test near its previous high at 1150.45. While it passed it intraday, it couldn't hold the gain. The action, however, left it in position for a second try.
Friday marked exactly one year since the follow-through day that confirmed a new uptrend was under way. It proved to be the end of the bear market. After the follow-through day, the Nasdaq gained 66% through Friday, tops among the major indexes.
Although the Nasdaq's performance was impressive in the past 12 months, investors who bought top-rated stocks offering valid entry points conceivably could've done better.
Stocks that bagged huge gains in the past 12 months include China Automotive Systems (CAAS) (up 607%), Bucyrus International (BUCY) (380%), Intuitive Surgical (ISRG) (248%), Green Mountain Coffee Roasters (GMCR) (238%), Baidu (BIDU) (225%) and Apple (AAPL) ( 135%).
Of course, no one would've captured all of the gains in these stocks because waiting for a proper entry point naturally sacrifices part of the gain. The benefit to waiting is that you avoid losing money and time on issues that never finish a base and break out.
On Friday, breakouts were scarce.
Before Friday's open, some good news on retail sales rolled in. While the Street expected a slight dip in February retail sales, the sector delivered a 0.3% pop. Ex autos and gasoline, retail sales were up 0.9%, far above estimates.
The major indexes opened higher but the move didn't hold for long. A consumer sentiment gauge fell short of estimates and business inventories also disappointed.
Posted 05:10 PM ET
Stocks took a breather Friday, finishing little changed after a dull session. Mixed economic reports failed to move the major indexes much either way. Retail sales unexpectedly rose, but consumer sentiment surprisingly fell.
The Dow and NYSE composite inched up 0.1% each. The Nasdaq and S&P 500 both eased a fraction.
NYSE volume climbed, while Nasdaq trade fell.
Despite Friday's lack of action, stocks finished higher for the second straight week. The Nasdaq climbed 2% and Dow 0.6%. The NYSE composite and S&P 500 rose 1% each.
The NYSE composite and the Dow added 0.1% each. The S&P 500 and the Nasdaq were both fractionally lower.
Volume fell 4% on the Nasdaq and rose 7% on the NYSE. It was the second time last week that the NYSE composite and Dow indexes, neither of which is leading this uptrend, stalled with tiny gains in higher volume.
In Friday's edition, we noted that the S&P 500 was approaching a technical test near its previous high at 1150.45. While it passed it intraday, it couldn't hold the gain. The action, however, left it in position for a second try.
Friday marked exactly one year since the follow-through day that confirmed a new uptrend was under way. It proved to be the end of the bear market. After the follow-through day, the Nasdaq gained 66% through Friday, tops among the major indexes.
Although the Nasdaq's performance was impressive in the past 12 months, investors who bought top-rated stocks offering valid entry points conceivably could've done better.
Stocks that bagged huge gains in the past 12 months include China Automotive Systems (CAAS) (up 607%), Bucyrus International (BUCY) (380%), Intuitive Surgical (ISRG) (248%), Green Mountain Coffee Roasters (GMCR) (238%), Baidu (BIDU) (225%) and Apple (AAPL) ( 135%).
Of course, no one would've captured all of the gains in these stocks because waiting for a proper entry point naturally sacrifices part of the gain. The benefit to waiting is that you avoid losing money and time on issues that never finish a base and break out.
On Friday, breakouts were scarce.
Before Friday's open, some good news on retail sales rolled in. While the Street expected a slight dip in February retail sales, the sector delivered a 0.3% pop. Ex autos and gasoline, retail sales were up 0.9%, far above estimates.
The major indexes opened higher but the move didn't hold for long. A consumer sentiment gauge fell short of estimates and business inventories also disappointed.
Posted 05:10 PM ET
Stocks took a breather Friday, finishing little changed after a dull session. Mixed economic reports failed to move the major indexes much either way. Retail sales unexpectedly rose, but consumer sentiment surprisingly fell.
The Dow and NYSE composite inched up 0.1% each. The Nasdaq and S&P 500 both eased a fraction.
NYSE volume climbed, while Nasdaq trade fell.
Despite Friday's lack of action, stocks finished higher for the second straight week. The Nasdaq climbed 2% and Dow 0.6%. The NYSE composite and S&P 500 rose 1% each.
Thursday, March 11, 2010
Indexes Stage Positive Reversal, Though Volume Dips
The bulls won a low-volume battle Thursday.
Stocks spent most of the session in the red, and then moved up quickly in the last hour of trade. While the positive reversal was welcomed, the slower trade suggested that institutional investors were taking a timeout.
The Nasdaq, S&P 500 and Dow each finished 0.4% higher. The NYSE composite added 0.3%.
Volume was lower on both major exchanges.
Economic news had little impact Thursday. Jobless claims were a little worse than expected. February foreclosures showed the smallest jump in some time, but the rise was still 6%. A report of inflation jumping in China was bad news, but the market eventually shrugged it off.
Technical action during the session was good, with the early weakness coming in light trade, the rebound in better volume. The indexes closed near their session highs — another positive note.
Good technical action has been typical since the market uptrend was confirmed March 1. There hasn't been a day of distribution in a major index. Plus, the Nasdaq has made a new high several sessions in a row.
The breadth of the gains also has been positive. The NYSE advance/decline line is making new highs; the Nasdaq's advance/decline line is near a new high.
A technical test, however, looms for the S&P 500. On Thursday, it closed just under its previous high at 1150.45, set on Jan. 19. The Street will be watching to see if it can break through that level or if it will find resistance there.
Action was slow among leading stocks Thursday, with few going up or down significantly in strong volume.
With the confirmed uptrend nine sessions old, it might be useful to look at how recent breakouts are faring.
More than three dozen high-rated stocks have broken out. That's a healthy number, but not all are true leaders. Three have triggered the 8% sell rule — Harbin, thinly traded fiber-optics firm AboveNet (ABVT) and security software provider ArcSight (ARST).
Most breakouts are modestly up from the buy point. A few are modestly down.
So far this month, small caps have led the market's new uptrend. The small-cap S&P 600 is up 7.2% in March. The Nasdaq is up 5.8%, the best gain among the major indexes.
The Nasdaq's Accumulation/Distribution Rating also is ahead of the other major indexes'. After languishing a while, some of those ratings are improving.
Posted 05:08 PM ET
Stocks shrugged off Chinese inflation news and a smaller-than-expected drop in initial jobless claims Thursday. Indexes wavered for most of the session, but buying came in during the final hour of trading.
The Nasdaq rallied 0.4%, closing at its session high. That marked its sixth straight gain. The Dow and the S&P 500 also rose 0.4% each. The S&P closed near its January peak. The NYSE composite gained 0.3%.
Despite the late push, volume fell sharply across the board.
Stocks spent most of the session in the red, and then moved up quickly in the last hour of trade. While the positive reversal was welcomed, the slower trade suggested that institutional investors were taking a timeout.
The Nasdaq, S&P 500 and Dow each finished 0.4% higher. The NYSE composite added 0.3%.
Volume was lower on both major exchanges.
Economic news had little impact Thursday. Jobless claims were a little worse than expected. February foreclosures showed the smallest jump in some time, but the rise was still 6%. A report of inflation jumping in China was bad news, but the market eventually shrugged it off.
Technical action during the session was good, with the early weakness coming in light trade, the rebound in better volume. The indexes closed near their session highs — another positive note.
Good technical action has been typical since the market uptrend was confirmed March 1. There hasn't been a day of distribution in a major index. Plus, the Nasdaq has made a new high several sessions in a row.
The breadth of the gains also has been positive. The NYSE advance/decline line is making new highs; the Nasdaq's advance/decline line is near a new high.
A technical test, however, looms for the S&P 500. On Thursday, it closed just under its previous high at 1150.45, set on Jan. 19. The Street will be watching to see if it can break through that level or if it will find resistance there.
Action was slow among leading stocks Thursday, with few going up or down significantly in strong volume.
With the confirmed uptrend nine sessions old, it might be useful to look at how recent breakouts are faring.
More than three dozen high-rated stocks have broken out. That's a healthy number, but not all are true leaders. Three have triggered the 8% sell rule — Harbin, thinly traded fiber-optics firm AboveNet (ABVT) and security software provider ArcSight (ARST).
Most breakouts are modestly up from the buy point. A few are modestly down.
So far this month, small caps have led the market's new uptrend. The small-cap S&P 600 is up 7.2% in March. The Nasdaq is up 5.8%, the best gain among the major indexes.
The Nasdaq's Accumulation/Distribution Rating also is ahead of the other major indexes'. After languishing a while, some of those ratings are improving.
Posted 05:08 PM ET
Stocks shrugged off Chinese inflation news and a smaller-than-expected drop in initial jobless claims Thursday. Indexes wavered for most of the session, but buying came in during the final hour of trading.
The Nasdaq rallied 0.4%, closing at its session high. That marked its sixth straight gain. The Dow and the S&P 500 also rose 0.4% each. The S&P closed near its January peak. The NYSE composite gained 0.3%.
Despite the late push, volume fell sharply across the board.
Tuesday, March 9, 2010
Stocks Surrender Gains Late, Close Modestly Higher
Stocks faced an onslaught of late selling Tuesday, giving up some gains to close modestly higher.
The Nasdaq closed atop the heap with a 0.4% gain after being up as much as 0.9% earlier. The S&P 500 and the Dow gained 0.2% and 0.1%, respectively. The NYSE composite kept a toehold in positive territory.
Volume rose across the board. But much of the trading took place as the market slid, a negative sign for the market.
Normally, higher volume on a day when the market climbs is encouraging. But the swelling volume as indexes retreated cast doubts.
In fact, the indexes' lackluster gains in higher volume resembled stalling action.
Results among leading stocks were mixed.
So what fueled Monday's action?
Transportation issues were one of the day's big beneficiaries. The Dow transports jumped 1.3%.
05:15 PM ET
Stocks closed up on this anniversary of the March 2009 market bottom. But a round of late selling erased the bulk of the day's gains.
The Nasdaq closed atop the heap with a 0.4% gain after being up as much as 0.9% earlier. The S&P 500 and the Dow gained 0.2% and 0.1%, respectively. The NYSE composite kept a toehold in positive territory.
Volume rose across the board. But much of the trading took place as the market slid, a negative sign for the market.
Normally, higher volume on a day when the market climbs is encouraging. But the swelling volume as indexes retreated cast doubts.
In fact, the indexes' lackluster gains in higher volume resembled stalling action.
Results among leading stocks were mixed.
So what fueled Monday's action?
Transportation issues were one of the day's big beneficiaries. The Dow transports jumped 1.3%.
05:15 PM ET
Stocks closed up on this anniversary of the March 2009 market bottom. But a round of late selling erased the bulk of the day's gains.
Friday, March 5, 2010
Stocks Jump As More Leaders Break Out
Stocks strode ahead confidently Friday, and a handful of breakouts added to the bullish tone.
The NYSE composite added 1.6%, the Nasdaq 1.5%, the S&P 500 1.4% and the Dow 1.2%.
Volume rose 10% on the Nasdaq and the NYSE, solidifying the day's gains.
Friday's advance served as a shot in the arm for the market, which had been sluggish after a follow-through a week ago.
The Nasdaq — which is leading the new market uptrend — made a fresh closing high for the year.
Some nervousness preceded Friday's session as investors awaited the government numbers on nonfarm payrolls and the unemployment rate.
About an hour before the open, the Street got the report.
Employers cut fewer jobs than expected in February, and the unemployment rate remained unchanged. Analysts had expected the jobless rate to edge up.
The details left plenty of room to parse meaning. Bulls could point to employment in retail and manufacturing, both of which were unchanged. Bears could emphasize that the only sectors adding jobs were temporary help services and the federal government.
As usual, the market itself decided the dispute, siding with the bulls on this occasion.
Of the industry groups, nearly all rose. The leisure products group was the top gainer, with several of its members rising 4% to 6%.
Building, retail, technology and metals rounded out the leaders.
Apart from those solid gains, another potential plus is developing in the background.
A few highly rated stocks formed bases during the correction that undercut previous bases. That resets the base count, meaning they are now first-stage patterns. A first-stage base is more likely to work than later bases.
posted 05:15 PM ET
Stocks chopped around for the past three sessions, but finished decisively high Friday, thanks to a jobs report that showed that the labor market is on the mend.
The NYSE composite climbed 1.6%, closing at its best level since Jan. 20. The Nasdaq passed its January peak, gaining 1.5% to touch its highest level since September 2008. The S&P 500 and Dow rose 1.4% and 1.2%, respectively.
Volume climbed on both exchanges.
Before the open, the Labor Department said employers cut far fewer jobs in February than economists had expected. The unemployment rate held steady at 9.7%.
For the week, the Nasdaq and NYSE composite surged 3.9% and 3.6%, respectively. Both put in their best weekly performance of the year. The S&P 500 gained 3.1%, while the Dow added 2.3%.
The NYSE composite added 1.6%, the Nasdaq 1.5%, the S&P 500 1.4% and the Dow 1.2%.
Volume rose 10% on the Nasdaq and the NYSE, solidifying the day's gains.
Friday's advance served as a shot in the arm for the market, which had been sluggish after a follow-through a week ago.
The Nasdaq — which is leading the new market uptrend — made a fresh closing high for the year.
Some nervousness preceded Friday's session as investors awaited the government numbers on nonfarm payrolls and the unemployment rate.
About an hour before the open, the Street got the report.
Employers cut fewer jobs than expected in February, and the unemployment rate remained unchanged. Analysts had expected the jobless rate to edge up.
The details left plenty of room to parse meaning. Bulls could point to employment in retail and manufacturing, both of which were unchanged. Bears could emphasize that the only sectors adding jobs were temporary help services and the federal government.
As usual, the market itself decided the dispute, siding with the bulls on this occasion.
Of the industry groups, nearly all rose. The leisure products group was the top gainer, with several of its members rising 4% to 6%.
Building, retail, technology and metals rounded out the leaders.
Apart from those solid gains, another potential plus is developing in the background.
A few highly rated stocks formed bases during the correction that undercut previous bases. That resets the base count, meaning they are now first-stage patterns. A first-stage base is more likely to work than later bases.
posted 05:15 PM ET
Stocks chopped around for the past three sessions, but finished decisively high Friday, thanks to a jobs report that showed that the labor market is on the mend.
The NYSE composite climbed 1.6%, closing at its best level since Jan. 20. The Nasdaq passed its January peak, gaining 1.5% to touch its highest level since September 2008. The S&P 500 and Dow rose 1.4% and 1.2%, respectively.
Volume climbed on both exchanges.
Before the open, the Labor Department said employers cut far fewer jobs in February than economists had expected. The unemployment rate held steady at 9.7%.
For the week, the Nasdaq and NYSE composite surged 3.9% and 3.6%, respectively. Both put in their best weekly performance of the year. The S&P 500 gained 3.1%, while the Dow added 2.3%.
Indexes Rise, But Top Stocks Show Little Leadership
Stocks rose moderately Thursday in mixed volume, as most indexes closed in better form than in the previous couple of days.
The Nasdaq and Dow rose 0.5% each. The S&P 500 added 0.4%. The NYSE composite trailed with a 0.1% gain. The Nasdaq, S&P 500 and Dow closed near session highs.
Volume fell on the Nasdaq but edged up on the NYSE. Market watchers attributed the unimpressive volume to traders awaiting Friday's unemployment numbers.
It was a relatively quiet session for all but a few top-rated stocks.
Since Monday's follow-through, the indexes have essentially moved sideways. While breakouts have occurred and few have failed outright, only a handful has made much headway.
Those that broke out and added to the initial gain include cloud computing firm F5 Networks (FFIV); Applebee's and IHOP operator and franchiser DineEquity (DIN), which is thinly traded; and Israeli medical-equipment developer Given Imaging (GIVN), also a thinly traded stock.
Breakouts Thursday included thinly traded pharmacy benefits manager SXC Health Solutions (SXCI) and discount apparel store chain Ross Stores (ROST).
SXC roared 15% in heavy trade after beating quarterly estimates on earnings and sales. It also raised 2010 guidance above analysts' expectations.
SXC cleared a base and is now 4% past its 56.30 buy point.
Ross Stores reported that February same-store sales rose almost twice as much as the Street expected. The stock jumped past a 50.60 buy point in volume 29% greater than usual.
Action in Green Mountain Coffee Roasters (GMCR) is more typical of recent breakouts. It cleared an 88.75 buy point intraday Tuesday but closed below it. It did the same Wednesday and closed basically flat Thursday.
Such action isn't a sell signal, but it's indecisive enough to raise doubts.
Other stocks are still in the base-building process.
Retailer Urban Outfitters (URBN) is building the right side of a base. It added 0.94 to 34.34 Thursday in 28% faster trade. The company is showing signs of a potential turnaround. Before Thursday's open, it reported quarterly results, topping expectations.
Earnings leapt 88%, the best gain in at least 19 quarters. Sales rose 16%, the best in five quarters. After-tax profit margin was 13%, the best in at least 19 quarters.
Mutual funds added shares in Urban Outfitters in Q4.
Economic news was mixed Thursday. Results were encouraging on initial jobless claims and on retail same-store sales.
Apparel, discount and other retail industry groups were among the day's best performers.
But factory orders and pending home sales in February were worse than expected.
After hours, computer security provider ArcSight (ARST) plunged 9% after it topped views on revenue but missed on earnings. It has broken out of a cup with handle, but that move is now in doubt.
5:15 p.m. Update: Stocks swung back and forth, finishing higher ahead of Friday's key jobs report.
The Nasdaq bounced back from a 0.3% deficit to end up 0.5%. The Dow also rose 0.5%, thanks to gains by Boeing (BA), Walt Disney (DIS) and American Express (AXP).
Meanwhile, the S&P 500 rose 0.4% and the NYSE composite 0.1%.
Volume ticked up on the NYSE and dropped sharply on the Nasdaq.
The all-important February jobs report will be out before Friday's open. Economists are expecting a loss of 63,000 jobs. The unemployment rate is slated to tick up to 9.8% from 9.7% in January.
The Nasdaq and Dow rose 0.5% each. The S&P 500 added 0.4%. The NYSE composite trailed with a 0.1% gain. The Nasdaq, S&P 500 and Dow closed near session highs.
Volume fell on the Nasdaq but edged up on the NYSE. Market watchers attributed the unimpressive volume to traders awaiting Friday's unemployment numbers.
It was a relatively quiet session for all but a few top-rated stocks.
Since Monday's follow-through, the indexes have essentially moved sideways. While breakouts have occurred and few have failed outright, only a handful has made much headway.
Those that broke out and added to the initial gain include cloud computing firm F5 Networks (FFIV); Applebee's and IHOP operator and franchiser DineEquity (DIN), which is thinly traded; and Israeli medical-equipment developer Given Imaging (GIVN), also a thinly traded stock.
Breakouts Thursday included thinly traded pharmacy benefits manager SXC Health Solutions (SXCI) and discount apparel store chain Ross Stores (ROST).
SXC roared 15% in heavy trade after beating quarterly estimates on earnings and sales. It also raised 2010 guidance above analysts' expectations.
SXC cleared a base and is now 4% past its 56.30 buy point.
Ross Stores reported that February same-store sales rose almost twice as much as the Street expected. The stock jumped past a 50.60 buy point in volume 29% greater than usual.
Action in Green Mountain Coffee Roasters (GMCR) is more typical of recent breakouts. It cleared an 88.75 buy point intraday Tuesday but closed below it. It did the same Wednesday and closed basically flat Thursday.
Such action isn't a sell signal, but it's indecisive enough to raise doubts.
Other stocks are still in the base-building process.
Retailer Urban Outfitters (URBN) is building the right side of a base. It added 0.94 to 34.34 Thursday in 28% faster trade. The company is showing signs of a potential turnaround. Before Thursday's open, it reported quarterly results, topping expectations.
Earnings leapt 88%, the best gain in at least 19 quarters. Sales rose 16%, the best in five quarters. After-tax profit margin was 13%, the best in at least 19 quarters.
Mutual funds added shares in Urban Outfitters in Q4.
Economic news was mixed Thursday. Results were encouraging on initial jobless claims and on retail same-store sales.
Apparel, discount and other retail industry groups were among the day's best performers.
But factory orders and pending home sales in February were worse than expected.
After hours, computer security provider ArcSight (ARST) plunged 9% after it topped views on revenue but missed on earnings. It has broken out of a cup with handle, but that move is now in doubt.
5:15 p.m. Update: Stocks swung back and forth, finishing higher ahead of Friday's key jobs report.
The Nasdaq bounced back from a 0.3% deficit to end up 0.5%. The Dow also rose 0.5%, thanks to gains by Boeing (BA), Walt Disney (DIS) and American Express (AXP).
Meanwhile, the S&P 500 rose 0.4% and the NYSE composite 0.1%.
Volume ticked up on the NYSE and dropped sharply on the Nasdaq.
The all-important February jobs report will be out before Friday's open. Economists are expecting a loss of 63,000 jobs. The unemployment rate is slated to tick up to 9.8% from 9.7% in January.
Wednesday, March 3, 2010
Tuesday, March 2, 2010
Stocks Start Strong, But Finish Weak
First the good: Stocks rose for the third straight session Tuesday. The bad: They closed well off the session's best levels.
The NYSE composite rose 0.5% and closed above its 50-day moving average. But the index was up as much as 0.9%. The Nasdaq gained 0.3%, down from 0.8% at its intraday peak. Meanwhile, the S&P 500 edged up 0.2% and the Dow eked up a fraction.
Volume rose on both major exchanges.
The market started off strong, thanks to more bailout optimism for Greece and more M&A news. Greek lawmakers are expected to announce new efforts Wednesday to cut its heavy debt.
The dollar fell against the euro and the yen, but pared losses just before 1 p.m. EST. Stocks faded soon after that. The Dow dipped into negative territory before bouncing back a bit.
Considering Monday's follow-through session, Tuesday's fading conclusion was a letdown.
But the indexes' gains were enough to avoid a distribution day, which would have clouded the market's picture considerably. Also, some leaders fared well.
The NYSE composite rose 0.5% and closed above its 50-day moving average. But the index was up as much as 0.9%. The Nasdaq gained 0.3%, down from 0.8% at its intraday peak. Meanwhile, the S&P 500 edged up 0.2% and the Dow eked up a fraction.
Volume rose on both major exchanges.
The market started off strong, thanks to more bailout optimism for Greece and more M&A news. Greek lawmakers are expected to announce new efforts Wednesday to cut its heavy debt.
The dollar fell against the euro and the yen, but pared losses just before 1 p.m. EST. Stocks faded soon after that. The Dow dipped into negative territory before bouncing back a bit.
Considering Monday's follow-through session, Tuesday's fading conclusion was a letdown.
But the indexes' gains were enough to avoid a distribution day, which would have clouded the market's picture considerably. Also, some leaders fared well.
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