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. >>

 


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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.

 


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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. >>

 

 


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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. >>

 

 

 


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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. >>

 

 

 
 

 


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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. >>

 

 


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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. >>

 

 

 


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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. >> 

 

 
 


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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.>>

 


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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. >>

 

 
 

 

 


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Kimble Charting Solutions

Gold is Knocking on a Key Breakout Level

Courtesy of Chris Kimble.

For the past 5 years, Gold prices have traded sideways. There were plenty of “trades” to be made, but that type of price action tends to grind out long-term bulls and bears.

You can see this in today’s “monthly” closing chart for Gold (shown below).

Gold bulls caught a break recently when Gold broke out above its multi-year downtrend line at (1) and (2). This spurred a big advance in metals & mining stocks.

Can Gold bugs and bulls keep the momentum going? We should find out shortly.

Gold is currently knocking on a key breakout resistance level (3). A bullish message will be sent to bulls if Gold can breakout above the 2017 m...



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Zero Hedge

Trump: "I Want 5G, Or Even 6G, Tech In The US As Soon As Possible"

Courtesy of ZeroHedge. View original post here.

President Trump has finally hit upon the real issue at the center of the US government's battle with Huawei: It's all about the technology. To wit, one reason why US allies and the UK and Germany have been so hesitant to cut ties with the Chinese telecoms giant is that, as its founder pointed out in a recent interview with Western media, there is no real alternative. US telecoms like Verizon still lag their Chinese rivals when it comes to 5G.

So, in a series of tweets sent Thursday morning, President Trump exclaimed that "I want 5G, and even 6G technology in the United States as soon as ...



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Phil's Favorites

Honda closure: Brexit is tipping the UK's car industry over the edge

 

Honda closure: Brexit is tipping the UK's car industry over the edge

Pajor Pawel / Shutterstock.com

Courtesy of Jim Saker, Loughborough University

Britain’s car industry has faced a barrage of bad news in 2019. Honda is the latest casualty, announcing it will close its Swindon car plant, which employs 3,500 people, in 2021. It follows ...



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ValueWalk

It's Your Lucky Day - Whitney Tilson Has A Job Offer And A New Stock Idea

By Jacob Wolinsky. Originally published at ValueWalk.

Whitney Tilson’s email to investors discussing him hiring an analyst; his Stock Idea of the Day: Thor Industries; Tesla; KIPP Casino Night.

1) A final reminder that I’m looking to hire an analyst, based in Baltimore, for my new investment newsletter business, Empire Financial Research. The ideal candidate will have a passion for investing, a nose for cheap stocks and great writing skills. One of the analyst’s jobs will be helping me put together daily emails like this one, whic...



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Insider Scoop

3 Texas Roadhouse Analysts Agree: Wait For A Better Entry Point In Stock

Courtesy of Benzinga.

Related TXRH Texas Roadhouse's Q4 Earnings Preview Earnings Scheduled For February 19, 2019 ...

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Chart School

RTT browsing latest..

Courtesy of Read the Ticker.

Please review a collection of WWW browsing results. The information here is delayed by a few months, members get the most recent content.



Date Found: Thursday, 02 August 2018, 07:48:20 PM

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


Comment: $600 BN interest payments for US gov, print baby print



Date Found: Sunday, 05 August 2018, 09:22:26 PM

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


Comment: Hire FED interest rates always brings double trouble



Date Found: Monday, 06 August ...

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Digital Currencies

Cryptos Are Surging: Bitcoin, Ethereum Hit One-Month Highs As Institutions Dip Toes

Courtesy of Zero Hedge

Cryptocurrencies are surging while the US equity markets take the day off. Ethereum is up over 18% from Friday's 'close' and the rest of the crypto space is a sea of green. While no immediate catalyst (headline or technical level) is clear, increasing chatter over institutional investors dipping their toes in the space have prompted an extension of the positive trend.

A sea of green...

Source: Coin360

Ethereum is leading the charge follow...



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Biotech

Cancer: new DNA sequencing technique analyses tumours cell by cell to fight disease

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

 

Cancer: new DNA sequencing technique analyses tumours cell by cell to fight disease

Illustration of acute lymphoblastic leukaemia, showing lymphoblasts in blood. Kateryna Kon/Shutterstock

Courtesy of Alba Rodriguez-Meira, University of Oxford and Adam Mead, University of Oxford

...

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Members' Corner

Why Trump Can't Learn

 

Bill Eddy (lawyer, therapist, author) predicted Trump's chaotic presidency based on his high-conflict personality, which was evident years ago. This post, written in 2017, references a prescient article Bill wrote before Trump even became president, 5 Reasons Trump Can’t Learn. ~ Ilene 

Why Trump Can’t Learn

Donald Trump by Gage Skidmore (...



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Mapping The Market

Trump: "I Won't Be Here" When It Blows Up

By Jean-Luc

Maybe we should simply try him for treason right now:

Trump on Coming Debt Crisis: ‘I Won’t Be Here’ When It Blows Up

The president thinks the balancing of the nation’s books is going to, ultimately, be a future president’s problem.

By Asawin Suebsaeng and Lachlan Markay, Daily Beast

The friction came to a head in early 2017 when senior officials offered Trump charts and graphics laying out the numbers and showing a “hockey stick” spike in the nationa...



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OpTrader

Swing trading portfolio - week of September 11th, 2017

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

 

This post is for all our live virtual trade ideas and daily comments. Please click on "comments" below to follow our live discussion. All of our current  trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this virtual portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading virtual portfolio (strategy, performance, FAQ, etc.), please click here ...



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Promotions

Free eBook - "My Top Strategies for 2017"

 

 

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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.

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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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