With two more days of distribution this week the market is telling us it’s not a buyer’s market. But we expect volatility to remain high, and would not be surprised by anything going forward. Thursday’s Read More …
Month: October 2007
Internals Turn Ugly
The S&P 500 tallies in its second distribution in a row. With no indication of selling volume dry up we need to stay cautious. We draw added concern over the internals, which show for the Read More …
Red Flag
Heavy distribution on a “key intraday reversal” is a clear Red Flag for the market. We want to protect ourselves from further downside by setting stop losses. Basically any profit held should not be allowed Read More …
Intact, Trend Up
The Broader market remains firmly “trend-up.” Tuesday’s accumulation is a clear supporting factor, as is the market’s mild reaction to the traditional “earnings jitters” we often see before the reports start flowing in. Perhaps our Read More …
Market Report
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Range Bound
Another tight range-day for the broader maret. We’re maintaining a bullish bias with orderly pullback action suggesting eager sellers are absent. We are a little concerned over the lack of volume, but would be more Read More …
Distribution, We must obey
You have to look really close, but the S&P 500 made a distribution day. Basically it doesn’t count for much. We’re only interested in heavy and obvious selling to count as institutional disinterest in this Read More …
Questionable Breakout, Cypress Semiconductor – CY
Technology may be the broader market’s leader, but the traditional backbone of the sector, Semiconductors, is not agreeing with the move. Cypress Semiconductor (CY) has the qualities this market has been embracing, but as with Read More …
Celgene Corp. – CELG – Rising
It’s good to be a bull. Lack of mass media on the major indexes approaching new highs bodes well for the upside. But even as Jim Cramer and Bill Gross make their cases for selling Read More …