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Watchlist for April 30, 2008

The market responded well to today’s pre-market economic data (GDP and the ADP payroll numbers) but it still has the 2:15 Fed announcement to deal with. Hopefully the reaction to that decision will move the market out of its current tight trading range…
On Today’s Calendar:

9:45 — Chicago PMI
10:30 — Crude Inventories
2:15 — FOMC Policy Statement
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30 Abril, 2008| Technical Analisis | Comments (0) @ 6:18

Solar Stocks to Watch

Leading names in the Solar Group include, AKNS, DSTI, LDK, YGE, FSLR, SPWR, STP, CSUN, CSIQ, ASTI, ESLR, SOLF, JASO, TSL…
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30 Abril, 2008| Technical Analisis | Comments (0) @ 6:01

PNRA

Panera Bread Company reported good earnings and then raised forward guidance and the stock is trading up on the news so keep it on the radar….
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30 Abril, 2008| Technical Analisis | Comments (0) @ 5:10

Some day trades while waiting for the FED tomorrow

My analyst team came up with a couple of plays tomorrow before the FED news.Some short plays for tomorrow that you can close out by 2 pm - first up…
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30 Abril, 2008| Technical Analisis | Comments (0) @ 5:04

BWLD

Buffalo Wild Wings, Inc. reported good earnings and the stock is trading up on the news so keep it on the radar….
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30 Abril, 2008| Technical Analisis | Comments (0) @ 4:56

F-day

How will the market react to whatever the Fed decides to do? Because of the tight trading for the past few days the expectation will be for a sizable move one way or the other. The 200-day MAs are a logical upside target, with the 20-day and 50-day MAs lurking below.Markets have effectively traded sideways since the January bottom and it would be good for this pattern to be put to rest. The best action for the bulls comes from the Transport index (even with all the woes in the airlines). The ADX confirms a bull trend and the “Golden Cross” between the 200-day and 50-day MAs shows a long-term bullish shift. Given this, I suspect we will see higher prices over the coming weeks even if the Fed ‘disappoints’….
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30 Abril, 2008| Technical Analisis | Comments (0) @ 2:28

Awaiting The Fed

It was another wait-and-see session on the stock market. Major indices closed in mixed territory offering no real clues about the direction of the next step. The consumer confidence fell to 62.3 from 65.9 at the lowest level since almost five years. Today the Fed meeting and the GDP are the real issue. Expect a strong volatility´s increase in the next two days.H…
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30 Abril, 2008| Technical Analisis | Comments (0) @ 0:36

Links for 2008-04-29 [del.icio.us]

China May Revalue Yuan by 10% to 15%, Says JPMorgan’s Gong
"The chances of a one-off adjustment are higher than the 10 to 20 percent odds previously forecast, wrote Gong in the note published yesterday." WAKE ME WHEN THE CNY IS AT 3.5
O…
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29 Abril, 2008| Technical Analisis | Comments (0) @ 22:00

IBM Impresses Investors

IBM has been roaring its way to new highs recently to levels not seen since 2000. Let’s see the chart of this impressive stock, which has made new highs as the stock market indexes fell in 2008. In fact, its lowest point this year was early January!
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29 Abril, 2008| Technical Analisis | Comments (0) @ 19:24

Thematic Shifts Among Stock Market Sectors

Going into tomorrow’s Fed announcement, we’ve seen significant changes in sector themes. Many of the sectors that were most beaten down during the market’s selloff are now performing well. Interestingly, this has occurred at the same time that Treasuries–which had been strong during the selloff with the flight to quality–have sold off. It appears that we have been making a gradual shift toward risk-taking among stocks. This has helped the consumer discretionary, financial, and technology stocks in particular….
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29 Abril, 2008| Technical Analisis | Comments (0) @ 19:18

MOS Chart

Long time readers know one of my mantras is to keep on doing it until it ceases to work. Once I see a pattern emerge, I will continually go after it.

Let’s take a look at the MOS chart to illustrate this point. Over the past 6 months, buying the stock when the stochastic indicator became oversold and hit a price pivot point, then selling once it reached overbought levels has netted some lofty…
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29 Abril, 2008| Technical Analisis | Comments (0) @ 19:01

Free Trading Ideas (One Day Tease)

If you’d like to subscribe to my daily trading ideas, the charge for May (through May 30) is $19.95.
Here are two freebies for Wednesday, April 30. The details for these set-ups, in addition to the details for all the ideas from April, can be reviewed here:
Trading Ideas, April 2008
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29 Abril, 2008| Technical Analisis | Comments (0) @ 16:53

What Happens When You Try to Cancel the Online Wall Street Journal (Part III)

I tried to pull the “busy young executive” shtick on a “customer relations representative” named Jody. She said I had already enjoyed two 60-day extensions and all she was able to offer now was $20 off the subscription price (recently raised to $119). I said I’d renew for $59. She couldn’t do it. I cancelled. Jody regretted losing me.

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29 Abril, 2008| Technical Analisis | Comments (0) @ 15:20

Cash Is King Ahead of the Fed - Resume Option Trading After the FOMC.

Yesterday, the market tried to break out above the SPY 140 resistance level. Merger news from Mars and Wrigley helped set a positive tone. By late afternoon, the momentum was gone. This morning, large losses from Countrywide, declining home prices, rising foreclosures and a 5-year low in consumer confidence cast a dark cloud over the market. Prices have continued to drift lower. This week will be filled with economic releases. Gloomy data will weigh on the market and traders will be reminded that we are not out of the woods yet. I will take my lead from the Fed’s decision and …
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29 Abril, 2008| Technical Analisis | Comments (0) @ 14:07

Stock Market Video Technical Analysis 4/29/08

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29 Abril, 2008| Technical Analisis | Comments (0) @ 13:12

Today’s Breakout: MA

The street must have liked MA’s earnings results. This is one of the few stocks that has defied my volume analysis. Stocks floating up on poor volume are usually setup for a fall, especially around earnings. Think POT for a good example of this. MA is now on my breakout-pullback watchlist….
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29 Abril, 2008| Technical Analisis | Comments (0) @ 12:47

Trade Ideas for Wednesday - BIDU, AAPL, RMBS, RFMD, GOOG

Chart courtesy of stockcharts ( click to enlarge )GOOG has been consolidating a pretty tight range under the 200-day moving averages. Volume is starting to build and it may make an attempt at breaking out. Let’s keep an eye on her….
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29 Abril, 2008| Technical Analisis | Comments (0) @ 12:24

Sneak Move Higher

the markets rarely do what “everyone expects” and the quiet consolidation has turned into a nice rally in the Qs with yesterday’s high being taken out. The significance of 47 as potential support going forward is reinforced by this move….
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29 Abril, 2008| Technical Analisis | Comments (0) @ 12:03

Afternoon Sputter…

After looking at the price/volume readings for the market today, I’ve come to the conclusion that the market was just treading water today. The price/volume relationship helps to tell the story and overall, more stocks closed down with volume down than any other configuration. The least dominant was Close Up and Volume Up, which is also the most bullish. Today’s relationships tells us nothing interesting, the market is just passing time it seems, which makes sense….
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29 Abril, 2008| Technical Analisis | Comments (0) @ 11:43

Horse Play

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