Posts Tagged ‘Dave’s Daily’

Dave’s Daily

MARKET COMMENT

Dave Fry, October 19, 2009

THE LIGHT VOLUME RALLY HAS LEGS

The low volume rally continues with news being spun six ways from Sunday. Today it was carryover optimism from last week’s winners Google and JPM and today’s rationale seemed a stretch: “Gannett revenues down; results top expectations”, “Eaton Corp sees improvement in key markets” and “Hasbro rose on cost cuts”. Oh yeah baby!

In the meantime, we await Apple and Texas Instrument earnings. Further investors are oddly joyful in high oil and commodity prices as they look at recovery prospects more than increased costs. Fed Chairman Bernanke seemed to give a green light to further dollar declines when he suggested China should spend more and Americans spend less. Did I get that right?

As stated, volume was on the light side and breadth was as positive as you’d expect.

 
 

Read it all here. >>

 


Tags: , ,




Dave’s Daily

MARKET COMMENT

Dave Fry, October 15, 2009

DIP BUYING CONTINUES

Logic argues for a rest but Mr. Market’s not giving much ground. Some of this may have to do with options expiration tomorrow as those who can hunt down strike prices forcing exercise and hitting stops. Sure, it’s a mean game.

IBM posts good earnings while GOOG beats. So, you think over the last two hours of trading some folks got the memo? Just saying… In the meantime even horrible earnings from companies like Harley-Davidson (HOG) were bid higher following the dreamy “the worst is over” buy from WFC.

Volume is still unimpressive as many individual investors are watching but not playing despite all the cheerleading from the media…

 

 

There’s quite a mania going on in Emerging Markets and some commodity sectors. This is driving prices to extreme levels (parabolic) making mincemeat of rational judgment. It’s mostly driven by peer performance pressure, excess liquidity, and low yields; but, still only modest volume. Most investors are still feeling the bitter pain of losses and seem reluctant to take Wall Street’s bait.

More here.

 


Tags: , ,




Dave’s Daily

MARKET COMMENT

Dave Fry’s ETF Digest, October 5, 2009

OVERSOLD GOTCHA CHEERLEADER

The rally today was expected given how oversold short-term conditions had become, not to mention short-term memories. But, again the caveat remains—low volume. GS upgraded more bank stocks today and this combined with a slightly better than expected ISM report was the slender reed bulls needed to squeeze shorts.

The fuel stocks need should come from earnings reports and those will start to roll out this week.

Volume was light and breadth positive enough to ease oversold conditions.

Read more Dave’s Daily here. >>

 

 


Tags:




Dave’s Daily

MARKET COMMENT

Courtesy of Dave Fry at ETF Digest, October 2, 2009

REALITY BITES BULLS

Economic reality is meeting bullish enthusiasm and the results are disappointing and upsetting. Bulls were expecting the economic recovery to continue and gain more steam. However, the reality is an economic recovery is going to take some time. Another negative we take away is stock prices are much too high. It would be interesting someday if the mainstream financial media would represent PE ratios on the basis of GAAP (Generally Accepted Accounting Principles) or reported earnings versus operating earnings. In the latter case operating earnings deflate PE ratios making stocks sound cheaper than they are.

Read all of Dave’s Daily here. >>

 

 

 


Tags: ,




Dave’s Daily

MARKET COMMENT

By Dave Fry of ETF Digest, September 28, 2009

WINDOW DRESSING PERIOD BEGINS

Look, the calendar matters when bonus money is on the line. So it was today. With stocks a tad short-term oversold we get end of month/quarter tape painting. Last week we plodded along with a 2% loss but made most of that back in one day. It’s just the way of things.

The pattern of light volume buying continues without much comment or notice and perhaps this owes something to Yom Kippur which ends this evening. Breadth was quite positive. 

Read all of Dave’s Market Comment here. >>

 

 

 
 

 


Tags:




Dave’s Daily

MARKET COMMENT 

Dave Fry’s ETF Digest, September 25, 2009 

TRIP, STUMBLE AND FALL?

We’ve been due for this type of action for some time as conditions had gotten much overbought. Suddenly, “worse than expected” news is really just bad news not spun in another manner. We lose one of the Four Horsemen (RIMM) due to poorly received earnings; and Durable Goods and New Home Sales were in the bad news camp so the selling continued.

Volume remains at a higher level with selling than previously with buying which isn’t good. Breadth today continues negative and that should embolden dip buyers and tape painters with the quarter and month end just a few trading days away.

Read all of Dave’s Daily here. >>

 

 


Tags: ,




Dave’s Daily

DAVE’S DAILY MARKET COMMENT

September 23, 2009

DON’T FADE THE BEARD?

The old maxim, “the first move is the wrong move” was operable today regarding Fed announcements. This isn’t always the case clearly but I’ll pull it out of my “maxim quiver” today.

The text below from today’s Fed announcement, with no dissent, is what got sellers motivated. Why? Because the statement has a hint the punchbowl may run dry in future. With markets much overbought and still forward looking, it gives investors a chance to take profits.

“To provide support to mortgage lending and housing markets and to improve overall conditions in private credit markets, the Federal Reserve will purchase a total of $1.25 trillion of agency mortgage-backed securities and up to $200 billion of agency debt. The Committee will gradually slow the pace of these purchases in order to promote a smooth transition in markets and anticipates that they will be executed by the end of the first quarter of 2010. As previously announced, the Federal Reserve’s purchases of $300 billion of Treasury securities will be completed by the end of October 2009.”

Read all of Dave’s Daily here. >>

 

 

 


Tags: ,




Dave’s Daily

Dave’s Daily MARKET COMMENT 

September 21, 2009

harpoatbar

WAITING FOR THE BEARD

An overbought market featured some selling today without much conviction in either direction. This may be the way of things until the Fed meeting announcement on Wednesday. Then we’ll see what kind of exit strategy may be gleaned from the droppings left by whatever is within their statement.

Light volume makes sense then since this remains a market of professionals only with most individual investors sitting this one out still bewildered by past events. Breadth was negative overall although volume on the NASDAQ was positive indicating bullish momentum remains with the big boys. 

For all of Dave’s Daily, click here. >> 

 

 
 


Tags:




Dave’s Daily

Dave’s Daily MARKET COMMENT

September 17, 2009

 
 

Mirrors on the ceiling, pink champagne on ice
And she said, ‘We are all just prisoners here of our own device’
And in the master’s chambers they gathered for the feast
They stab it with their steely knives but they just can’t kill the beast.

Hotel California Part 2
The Eagles
 

The targeted beast is the bull obviously but today he got a little nick for show. I wondered yesterday after Oracle reported negative results how that might impact performance today given other economic data being released. You can only conclude that “better than expected” Jobless Claims, Housing Starts and the Philly Fed Survey allowed investors to brush aside negative news from not only ORCL, but FDX and EK to name a few.

We’re starting the quad-witching this afternoon and this finishes up tomorrow. It should boost volume and it has in the past few days anyway. Tomorrow volume should get an even bigger jolt higher.

Today’s volume was greater than yesterday’s but not by much and breadth was negative but not overwhelmingly so.

 
 

Read the full Dave’s Daily Market Comment here.>>

 


Tags: , , ,




Dave’s Daily

Dave Fry’s MARKET COMMENT

September 16, 2009

 

Last thing I remember I was running for the door
I had to find the passage back to the place I was before
‘Relax,’ said the night man, ‘We are programmed to receive
You can check out any time you like but you can never leave’.

Hotel California
The Eagles

Since we sold some stuff two days ago it’s natural we want to find the place we were before. But, as I read somewhere else today maybe this is the Hotel California Economy and stock market. Let’s just say bulls put the pedal to it today squeezing any shorts and prepping for quad-witching beginning tomorrow and ending Friday. Things can get weird around this period and volume increases. Generally, it’s a good time to stay away but not so far this week for bulls.

Volume increased today and breadth was positive but not spectacularly so.

Read all of Dave’s Market Comment here. >>

 

 
 

 

 


Tags: , , ,




 
 
 

Zero Hedge

Nearly Half Of US Consumers Report Their Incomes Don't Cover Their Expenses

Courtesy of ZeroHedge View original post here.

Low-income consumers are struggling to make ends meet despite the "greatest economy ever," and if a recession strikes or the employment cycle continues to decelerate -- this could mean the average American with insurmountable debts will likely fall behind on their debt servicing payments, according to a UBS report, first reported by Bloomberg

UBS analyst Matthew Mish wrote in a recent report that 4...



more from Tyler

The Technical Traders

Indexes Struggle and TRAN suggests a possible top

Courtesy of Technical Traders

Nearing the end of October, traders are usually a bit more cautious about the markets than at other times of the year. History has proven that October can be a month full of surprises.  It appears in 2019 is no different. Right now, the markets are still range bound and appear to be waiting for some news or other information to push the markets outside of the defined range.

We still have at least one more trading week to go in October, yet the US markets just don’t want to move away from this 25,000 to 27,000 range for the Dow Industrials. In fact, since early 2019, we have traded within a fairly moderate price range of about 3200 points on the YM – a rotation...



more from Tech. Traders

Phil's Favorites

Arrogance destroyed the World Trade Organisation. What replaces it will be even worse

 

Arrogance destroyed the World Trade Organisation. What replaces it will be even worse

As the public face of globalism, the WTO mobilised protesters. It’ll be replaced by the law of the jungle. fuzheado/Flikr, CC BY-SA

Courtesy of John Quiggin, The University of Queensland

In line with his usual practice, Australia’s Prime Minister Scott Morrison has backed Donald Trump over the World Trade Organisation, criticising of China’s status in it as a “developing country”.

Critics of the int...



more from Ilene

Kimble Charting Solutions

Apple Bullish Breakout Suggesting Tech Follows In Its Path?

Courtesy of Chris Kimble

Is Apple sending a bullish message to the overall Tech market? Sure could be

Apple (AAPL) is working on a breakout above last year’s highs at (1), after creating a series of higher lows over the past year.

Tech ETF QQQ has been a similar-looking pattern to Apple over the past few months, as it is near old highs while creating higher lows.

Is Apple’s upside breakout suggesting that QQQ will follow in its footsteps and breakout?

Str...



more from Kimble C.S.

Insider Scoop

How Much Litigation Risk Is Priced Into Johnson & Johnson?

Courtesy of Benzinga

Johnson & Johnson (NYSE: JNJ) just can't seem to shake its talcum powder problems.

On Friday, Johnson & Johnson recalled 33,000 bottles of baby powder after a bottle purchased online by the FDA tested positive to asbestos.

Last year, a jury awarded a group ...



http://www.insidercow.com/ more from Insider

Digital Currencies

Five hurdles blockchain faces to revolutionise banking

 

Five hurdles blockchain faces to revolutionise banking

Shutterstock

Courtesy of Markos Zachariadis, Warwick Business School, University of Warwick

Blockchain is touted as the next step in the digital revolution, a technology that will change every industry from music to wast...



more from Bitcoin

Chart School

Gold Stocks Review

Courtesy of Read the Ticker

Gold stocks are swinging back forth between the range, and a break out swing higher is due. Gold stocks are holding a near perfect Wyckoff accumulation pattern. All should get ready to play this sector. Yet we must recognize that gold stocks are a one of the most crazy rides at the stock market fair, so play very carefully.

More from RTT Tv







GDX PnF chart from within the video

Click for popup. Clear your browser cache if image is not showing.




Important channels around the HUI.
...

more from Chart School

Lee's Free Thinking

Look Out Bears! Fed New QE Now Up to $165 Billion

Courtesy of Lee Adler

I have been warning for months that the Fed would need new QE to counter the impact of massive waves of Treasury supply. I thought that that would come later, rather than sooner. Sorry folks, wrong about that. The NY Fed announced another round of new TOMO (Temporary Open Market Operations) today.

In addition to the $75 billion in overnight repos that the Fed issued and has been rolling over since Tuesday, next week the Fed will issue another $90 billion. They’ll come in the form of three $30 billion, 14 day repos to be offered next week.

That brings the new Fed QE to a total of $165 billion. Even in the worst days of the financial crisis, I can’t remember the Fed ballooning its balance sheet by $165 bi...



more from Lee

Biotech

The Big Pharma Takeover of Medical Cannabis

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

 

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 co...



more from Biotech

Mapping The Market

How IPOs Are Priced

Via Jean Luc 

Funny but probably true:

...

more from M.T.M.

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...



more from Our Members

Promotions

Free eBook - "My Top Strategies for 2017"

 

 

Here's a free ebook for you to check out! 

Phil has a chapter in a newly-released eBook that we think you’ll enjoy.

In My Top Strategies for 2017, Phil's chapter is Secret Santa’s Inflation Hedges for 2017.

This chapter isn’t about risk or leverage. Phil present a few smart, practical ideas you can use as a hedge against inflation as well as hedging strategies designed to assist you in staying ahead of the markets.

Some other great content in this free eBook includes:

 

·       How 2017 Will Affect Oil, the US Dollar and the European Union

...

more from Promotions





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...

Learn more About Phil >>


As Seen On:




About Ilene:

Ilene is editor and affiliate program coordinator for PSW. She manages the site market shadows, archives, more. Contact Ilene to learn about our affiliate and content sharing programs.

Market Shadows >>