Archive | October, 2009
21 October 2009 – A few trades around…
I have added 3 more opportunities to the Discretionary setups but there are a few others as well that don’t quite fit the liquidity bill, FXL is one that comes to mind and is a favorite of mine. ERJ and PMV are also coiling with some bullish connotations. The market is moving back and forth [...]
Continue reading...October 20 2009 – Earnings overlooked
21. October 2009
Some weaker housing data overshadowed some good results by bellwether companies, although Yahoo reported strong earnings after the bell. The housing data suggested that the recovery may stall if tax incentives are halted. We still have another week or so of earnings and expect volatility to remain in place before a renewed trend is established. [...]
Continue reading...19 October – Apple beats estimates
20. October 2009
Daily momentum has now turned higher. We were also discussing the relationship of the Dow Jones Industrials vs. Transports. The Transports still haven’t cleared into new high ground just yet, but they’re very close. Another up session will confirm the recent months strength. Apple Inc, a bellwether company, reported above average results after the market [...]
Continue reading...15 Oct 2009 – More rate hikes coming
16. October 2009
Market internals were a little weaker today with Advance/Decline standing at 1.28. The market jumped out of the gate hard on the positive US lead but was unable to hold the early gains. The RBA Governor reiterated that further rate hikes will be along sooner rather than later which placed further support under the AUD. [...]
Continue reading...14 October 2009 – Transports surge
15. October 2009
I guess the important piece of news overnight was the convergence again of the Dow Jones Industrials and the Transports. We’ve been noting recently that the gap between the two was becoming an issue, albeit yet to confirm a bearish stance. Last night the Industrials rose 1.47% but the Transports rose a whopping 3.92% to [...]
Continue reading...14 October 2009 – New 52-week highs
14. October 2009
97 stocks hit new 52-week highs today, as did the broader indices, Gold and the A$. Volume has picked up after the last few days but we certainly can’t argue with the trend location and we just have to keep going with it while it lasts. We’ve discussed before what occurred back in 2003 and [...]
Continue reading...13 October – Q3 Earnings mixed
14. October 2009
We’re still keeping a low profile whilst earnings come through. Last night saw a few weaker releases which capped prices during the session but Intel released very good numbers after the close. We’re also watching the inertaction between the Dow Jones Industrials and the Transports, the Transports are lagging here which is a slight cause [...]
Continue reading...12 October 2009 – Quiet Trade
13. October 2009
An extremely quiet trading session today and with a Colombus Day holiday in the US tonight it may well be more of the same tomorrow. We stay with our view that momentum is still lagging the strength in price so continue with our cautious stance. We have Q3 earnings season upon us now in the [...]
Continue reading...8 October 2009 – Moving up
9. October 2009
Another big session in the market mainly driven by very strong employment data, indeed the unemployment rate dropped and took everyone by surprise. The market ripped higher after the data release. Todays strength turned our daily momentum back to FLAT. The daily and weekly trends remain up.There are no signs of divergence nor red alert [...]
Continue reading...October 7 2009 – Australia leads the world
7. October 2009
Global markets rallied hard on back of yesterdays Reserve Bank rate hike (this is probably the only time Australia has wagged the dog that I can remember) with many investors taking it as a sign that recovery is not only in the pipeline but is well along the route. Gold and commodities shot higher as [...]
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21. October 2009
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