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Wednesday, June 19, 2013 1:44 PM PDT
Happy Fed-Day everybody. As you already know, Ben Bernanke spoke today, and investors listened. They also didn't seem to like what they heard. I've got a quick reality check on the matter for you. Before we get to it though, something else happened today I need to spout off on, as it's already starting to impact weight-loss drug manufacturers like Arena Pharmaceuticals (ARNA) and VIVUS (VVUS). It Doesn't Really Matter I'm sure you've heard by now that the American Medical Association has officially deemed obesity...
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Tuesday, June 18, 2013 1:26 PM PDT
Well folks, it's pretty clear at this point traders are sticking to the sidelines, mostly waiting on the Federal Reserve to tell us something in the midst or aftermath of this week's big meeting. There's going to be plenty of rhetoric and chatter when it's over tomorrow... the kind that can move the market. Yeah, the market was up today, even if it faded a little from the high. Volume was rock-bottom, however, meaning most folks just didn't want to take the risk of being in or out of a new trade headed into...
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Monday, June 17, 2013 1:23 PM PDT
Welcome back everybody. Hope you had a good weekend, but even if you didn't, at least the market got off to a pretty good start for the week. Too bad it didn't finish the day as well as it started it; looks like things are still a little wobbly. Let's start there, and then we'll move on to something else that seems to repeatedly be coming back into focus for traders... even when it shouldn't. Weak Finish = Red Flag Today's initial pop from the market was spurred by one thing and one thing only - optimism that...
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Friday, June 14, 2013 1:19 PM PDT
Happy Friday folks. You likely already know the market continued to waffle today. Yeah, the indecision can be annoying, but to tell you the truth, it doesn't bother me... given the calendar. I'd rather not end the week with the market at an extreme end (either end) of its trading range. Snuggled right here in the middle of support and resistance, we can all enjoy the weekend without worrying about the market throwing us a weird curveball come Monday. Don't misread that - I still have a feeling the consolidation...
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Thursday, June 13, 2013 1:26 PM PDT
Howdy folks. Is everyone enjoying the roller coaster ride we've been on the last couple of weeks? For the second time this month the market was teetering on the edge of a meltdown, and for the second time this month, the bulls pulled their fat out of the fire. Thing is, I still wouldn't count on the market being back in rally mode yet. Today's just proof that the bulls and bears are doing battle here, right at the war's frontline. Here's the deal - the market may have soared today, but it didn't make any meaningful...
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Wednesday, June 12, 2013 1:26 PM PDT
Happy Wednesday ladies and gents. We hope the first half of your trading week is going well, and we hope the last half will be even better. Anyway, today's action was more of the same... bearishness. Yet (and we've talked about this ad nauseam lately), the market's still not reached that technical point of no return. We'll dissect the market "as of" today in a moment. First, a couple of not-entirely-random thoughts. Confidence Improving From All Corners Above all else, if you're in the line of this...
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Tuesday, June 11, 2013 1:12 PM PDT
Well, no real surprises on Tuesday. We made a point of showing you how the market rolled over on Monday, unable to hold itself above the 20-day moving average line and slipping a little into the red. Today's pullback was just a continuation of that bearish reversal. It still doesn't change the fact that stocks are stuck in a range here, with no clear idea of when they'll rock their way out of the rut. The summer snooze begins. The nearby daily chart of the S&P 500 tells us all we need to know. Stocks started...
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Monday, June 10, 2013 1:50 PM PDT
Welcome back everybody. Hope your weekend was a good one. But, if it wasn't, I think we can give you something good to start the week - and the summer - with. [The first day of summer isn't until June 21st, but for most of the country, the humid heat is already near peak levels. That's close enough for me.] We'll look at that in a second for you. First, let's slice and dice this maniacal market. Whatever I'll be short and sweet today, since the market's lack of movement leaves me little to talk about. I'll simply...
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Friday, June 7, 2013 1:23 PM PDT
Happy Friday fellow traders, and for those of you who stayed long despite last week's (and earlier this week's) pullback, it was a very happy Friday for sure. Stocks roared for a second day in a row, pulling the market back into the black for the week. I can't say to you that I think everything is great again and the rally is back on track, but I can tell you we've got some clarity on the market's next most-likely "tells". Let's look at that in a moment. First, let's slice and dice this morning's employment...
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Thursday, June 6, 2013 1:32 PM PDT
Another wild ride for the market on Thursday, though this one ended up being bullish, thwarting what started out as the third nasty day of selling. Then again - and as I mentioned to you yesterday - a bounce was in the cards after Wednesday's drubbing. Let's not get too enthused just yet, because plenty of challenges are still on the table. Anyway, we'll get to that look in a second. First I want to take a step back and have a heart-to-heart chat with you about the weakness we're seeing from stocks (despite...
