Posts Tagged ‘Dave’s Daily Market Comment’

Dave’s Daily

Dave’s Daily MARKET COMMENT

September 18, 2009

A REALLY BORING QUADWITCH

It wasn’t a spectacular day that’s for sure—more like a low scoring extra inning baseball game. But it was quadwitching nonetheless without any runs or hits as in volume. Whatever manipulations and adjustments needed to be made must have been done throughout the current week. What else could it be?  

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Dave’s Daily

MARKET COMMENT

Dave Fry’s ETF Digest, September 11, 2009

We’re just one of many who will post a remembrance of what happened eight years ago. We’ll never forget it. After living in Hawaii for 35 years we knew many kamaaina’s (locals) who lived through the attack on Pearl Harbor. They had many stories to tell of witnessing the event as it transpired. With TV during 9/11 we were all able to witness the tragedy and the wound will never heal.

Entire article here.>>

 

 


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Dave’s Daily

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MARKET COMMENT

Dave Fry’s ETF Digest, Sept. 4, 2009

DIP BUYERS PLAY IT AGAIN

If you’re in this business long enough (35 years for the Fryguy), just when you think you’ve seen everything, they play another game on you. This week it was down and dirty early only to yield to some squaring up at week’s end. Squaring up? I use those terms loosely since yesterday’s end of day jam-job was beyond suspicious. Let’s just say those buying the last 15 minutes yesterday had a (cough) hunch what was coming today.

If you think the employment data was good, or had some “kernels of hope” as one headline read, then bully and welcome to the new math and spin 2009 edition. You’d think with this cynical attitude I’d be disappointed, but how can we be when we’re long?

Volume was pathetically low but it’s the Friday before a long weekend so this is expected. Breadth was as positive as you’d expect.  

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Dave’s Daily

MARKET COMMENT

Dave Fry’s ETF Digest, September 1, 2009

stock market time bomb

You could feel it coming. The other day my image du jour was “running on empty” and that was the ominous warning we were sensing. Most trading systems don’t have a “feel” component and mine doesn’t either. The only logical thing which we’ve commented on repeatedly as have others is light volume and how the news hasn’t jived with reality. And, recently, investors have been selling good news versus buying bad news as before. Today good ISM and housing data failed to impress as the short sellers seized the tape. September’s are supposed to be the cruelest month but it’s never a sure thing.

Today, hedge fund leaders Paul Tudor Jones and others jumped on the short side questioning the validity and viability of the current rally as reported well in this Bloomberg story. They’ve thrown down the gauntlet to Goldman Sachs and Morgan Stanley to prove that the economic recovery and market rally are for real. We’ll see who’s right ultimately but today they had the tape finding a lot of stops to hit. It was definitely their plan and was successfully orchestrated.

Volume increased substantially as stops were deliberately targeted and hit. The signature of this market has been (apart from Fed and options expiration days) heavier volume on down days than on up days which is a negative. Breadth was decidedly negative but not quite a 10/90 down day. 

 
 

 
 

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Dave’s Daily

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MARKET COMMENT

Dave Fry’s ETF Digest, August 21, 2009

clap

I had my little rant yesterday regarding the CFTC wrecking crew and there will be more to say—much more—over the next few months. But, today was options expiration…again…and options strike prices were being hunted down like a shark smelling blood.

But, hey, we’re basically long so let’s enjoy it while it lasts. It will last won’t it?

Home sales data was “better than expected” and Bernanke made a semi-bullish speech regarding future economic growth.  

 

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Dave’s Daily

Dave’s Daily Market Comment, August 17, 2009

Our son made me watch this gruesome movie, The 300, but the above line from it reminded me where the S&P 500 is presently (near 975) and a line bulls must defend. But, that’s looking at daily charts whereas longer term weekly and monthly charts may have a more tolerant feel and we’ll look at those further below.

It does seem that an accumulation of overbought conditions; an absence of positive news (or, even bad news to spin as positive); bullish fatigue noted here last week; heavy insider selling; and, more importantly, investors doing some old fashioned reasoning (ya know, bad news is really bad news) finally caught up with markets today.

I did note discomfort with things last week as rallies were feeble and selling seemed more intraday dominant then headlines would lead you to believe.

Volume today was heavier to the downside than previous up days which isn’t a good sign but has been the hallmark of this market for some time now. Breadth was decidedly negative although, as this is being done, it doesn’t appear as a negative 10/90 day.  

 
 

 
 

 
 

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Dave’s Daily

MARKET COMMENT

Dave Fry’s ETF Digest, August 13, 2009

Today’s action is more impressive than yesterday’s given the stream of “worse than expected” news from retail sales and jobless claims. Those predicting the recession’s end evidently shrugged all this off as old news. The bulls have the momentum. They believe the Fed and powers that be will do anything and everything to reflate asset prices. That should end the discussion right there.

Volume backed off again to the lower levels being recorded previously. Breadth was positive and the rally still lives thanks to financial and material sectors.  

 

 
 

 
 

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Dave’s Daily

MARKET COMMENT

Dave Fry’s ETF Digest, August 7, 2009

Okay, so the building tension before the unemployment data is relieved by buying on the (I’m really shocked!) “better than expected” unemployment data. This is the kind of response we’ve been conditioned to deal with for a long time. I’m not going to judge it just yet but it wasn’t a blockbuster day except in a few areas like financials and real estate related issues.

Volume was better than average for the day but on the week about the same as we’ve been seeing over the past few months now. Breadth was positive but not a 90/10 day blockbuster day.  

 

 

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Dave’s Daily

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MARKET COMMENT 

Dave Fry’s ETF Digest, July 28, 2009

Big Brother (FINRA) has given Wall Street firms the cover to restrict ProShares, Direxion, Rydex and PowerShares products from use by their clients. This is being done under the guise of protecting them but that’s a smokescreen. You see these firms live and die off residual fee income generated by wrapped high fee products within financial plans. It’s very disruptive to fee income for FAs and clients to mess with the plan. It is no longer permitted to use them denying the investor and FA the choice and opportunities they present. Rather than allow your FA to protect you from 40-60% bear market losses they want you to stick with these plans and keep chucking the money to them. Some firms are even going so far as restricting the use of unleveraged short products which is downright silly but shows you the extent firms will go to protect the flow of fee income.

Here’s a typical wire house message sent to the troops purportedly by Morgan Stanley:

Policy Change on Inverse and Leveraged20ETFs
In June FINRA issued a Regulatory Notice indicating that inverse and leveraged ETFs that are reset daily, typically are unsuitable for retail investors who plan to hold them longer than one trading session, particularly in volatile markets… 

 

 
 

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Dave’s Daily

MARKET COMMENT 

Courtesy of Dave Fry at ETF Digest, July 27, 2009

dave's daily

Yeah, that’s it—when volumes are as light as this traders just push their “easy button” and markets are propped. Bad news, good news or no news, it makes little difference when you’re in control. So, who’s in control? The usual suspects.

And, speaking of those, the New York Magazine just put out a good and thorough read on Goldman Sachs… 

 

 

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Phil's Favorites

The Big Pharma Takeover of Medical Cannabis

 

The Big Pharma Takeover of Medical Cannabis

Courtesy of  , Visual Capitalist

The Big Pharma Takeover of Medical Cannabis

As evidence of cannabis’ many benefits mounts, so does the interest from the global pharmaceutical industry, known as Big Pharma. The entrance of such behemoths will radically transform the cannabis industry—once heavily stigmatized, it is now a potentially game-changing source of growth for countless companies.

Today’s infographic comes to us from ...



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Kimble Charting Solutions

Bearish Divergences Similar To 2000 & 2007 In Play Again!

Courtesy of Chris Kimble

Does history at important junctures ever repeat itself exactly? Nope

Do look-alike patterns take place at important price points? Yup

This chart looks at the S&P 500 over the past 20-years.

In 2000 and 2007 bearish momentum divergences took place months ahead of the actual peak in stocks.

Currently, momentum has created a bearish divergence to the S&P 500 for the past 20-months, as the seems to have stopped on a dime at its 261% Fibonacci extension level of the 2007 highs/2009 lows.

Joe Friday Just The Fact Ma’am; A negative sign for the S&P 500 with the divergence in play, would take place if support b...



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Zero Hedge

Libra Members Consider Quitting Project Due To Gov't Pressure: Report

Courtesy of ZeroHedge View original post here.

Authored by Marie Huillet via CoinTelegraph.com,

At least three of Facebook’s early backers for its planned Libra stablecoin launch are considering withdrawing their support in light of the fierce regulatory pushback.

...



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The Technical Traders

Do Good Traders Make Good Gamblers?

Courtesy of Technical Traders

Without breaking the rules, have you ever made a trade that was guaranteed to make you money? A trade that was literally guaranteed to succeed.

If you’re struggling to come up with an answer, we’ll give you a helping hand, the word you’re searching for is likely no. Every financial trade ever made – no matter how sound and well researched using technical analysis – carries with it an element of risk.

Outside factors beyond your control always have the possibility of turning profits into losses and ecstasy into agony. In many ways, trading is similar to gambling. For instance, you may think you know ...



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Insider Scoop

Earnings Scheduled For August 22, 2019

Courtesy of Benzinga

Companies Reporting Before The Bell
  • Hormel Foods Corporation (NYSE: HRL) is estimated to report quarterly earnings at $0.36 per share on revenue of $2.29 billion.
  • BJ's Wholesale Club Holdings, Inc. (NYSE: BJ) is projected to report quarterly earnings at $0.37 per share on revenue of $3.38 billion.
  • DICK'S Sporting Good...


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Chart School

Gold Gann Angle Update

Courtesy of Read the Ticker

Everything awesome? Gold over $1500. Central banks are printing money to generate fake demand. Germany issues first ever 30 year bond with negative interest rate. Crazy times!

Even Australia and New Zealand and considering negative interest rates and printing money, you know a bunch of lowly populated islands in the South Pacific with no aircraft carriers or nuclear weapons. They will need to do this to suppress their currency as they are export nations, as they need foreign currency to pay for foreign loans. But what is next, maybe Fiji will start printing their dollar. 

Now for a laugh, this Jason Pollock sold for more than $32M in 2012. 





Ok, now call Dan...

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Lee's Free Thinking

Watch Out Bears! Fed POMO Is Back!

Courtesy of Lee Adler

That’s right. The Fed is doing POMO again.  POMO means Permanent Open Market Operations. It’s a fancy way of saying that the Fed is buying Treasuries, pumping money into the financial markets.

Over the past 6 days, the Fed has bought $8.6 billion in T-bills and coupons. These are the first regular Fed POMO Treasury operations since the Fed ended outright QE in 2014.

Who is the Fed buying those Treasuries from?

The Primary Dealers. Who are the Primary Dealers?  I’ll let the New York Fed tell you:

Primary dealers are trading counterparties of the New York Fed in its implementation of monetary policy. They are also expected to make markets for the New York Fed on behalf of its official accountholders as needed, and to bid on a ...



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Digital Currencies

New Zealand Becomes 1st Country To Legalize Payment Of Salaries In Crypto

Courtesy of ZeroHedge View original post here.

Bitcoin and other cryptocurrencies have been on a persistent upswing this year, but they're still pretty volatile. But during a time when even some of the most developed economies in the word are watching their currencies bounce around like the Argentine peso (just take a look at a six-month chart for GBPUSD), New Zealand has decided to take the plunge and become the first country to legalize payment in bitcoin, the FT reports.

The ruling by New Zealand’s tax authority allows salaries and wages to b...



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Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

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Biotech

DNA testing companies offer telomere testing - but what does it tell you about aging and disease risk?

Reminder: We're is available to chat with Members, comments are found below each post.

 

DNA testing companies offer telomere testing – but what does it tell you about aging and disease risk?

A telomere age test kit from Telomere Diagnostics Inc. and saliva. collection kit from 23andMe. Anna Hoychuk/Shutterstock.com

Courtesy of Patricia Opresko, University of Pittsburgh and Elise Fouquerel, ...



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Members' Corner

Despacito - How to Make Money the Old-Fashioned Way - SLOWLY!

Are you ready to retire?  

For most people, the purpose of investing is to build up enough wealth to allow you to retire.  In general, that's usually enough money to reliably generate a year's worth of your average income, each year into your retirement so that that, plus you Social Security, should be enough to pay your bills without having to draw down on your principle.

Unfortunately, as the last decade has shown us, we can't count on bonds to pay us more than 3% and the average return from the stock market over the past 20 years has been erratic - to say the least - with 4 negative years (2000, 2001, 2002 and 2008) and 14 positives, though mostly in the 10% range on the positives.  A string of losses like we had from 2000-02 could easily wipe out a decades worth of gains.

Still, the stock market has been better over the last 10 (7%) an...



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Promotions

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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