September 24th, 2009 by MDabbles | Comments
Market:
11:03 AM
The market is holding up better than I thought it would. I couldn’t resist, and bought a little RIMM long at fire sale prices (69.91):
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RIMM
DJI
Pre-Market:
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8:45 AM
Good morning. Futures are down pre-market on the heals of a disappointing durable goods orders report this morning. Asian markets down overnight and European markets mixed. I’m not taking [...]
June 24th, 2009 by jsfalvo | Comments
Wednesday June 24, 2009
Yesterday was was a choppy day and that is not unexpected coming off the largest percenatge down day we had in the markets in two months. The DJ-30 closed below it’s daily 50sma (resistance) and the SP-500 closed below it’s daily 50sma and daily 20sma (resistance). The QQQQ closed right above it’s daily 50sma [...]
June 17th, 2009 by jsfalvo | Comments
Today’s Market Commentary Wednesday June 17, 2009
I have a quick errand to run this am so I will leave you with David Elliott’s thoughts.
Per David Elliott of www.wallstreetteachers.com :
“Today I am looking for some kind of bounce with our support levels here or nearby.
The McClellan Oscillator T2106 is in an area of giving an up day [...]
June 9th, 2009 by jsfalvo | Comments
Today’s Market Commentary Tuesday June 9, 2009
Yesterday was another unusual day almost the exact opposite of Friday’s action. This market will need a catalyst to smack it and hold it down. Will the bond auctions provide that catalyst is anyone’s guess. This market can once again go either way. So we just have to trade [...]
June 3rd, 2009 by jsfalvo | Comments
Today’s Market Commentary Wednesday June 3, 2009
Well the DJIA hit the daily 200sma and closed below it again with a nice doji candle yesterday. We did not get the pullback I was looking for yesterday but we have had some selling overnight and today I have sell signals on the 1 and 2 day charts [...]
May 28th, 2009 by jsfalvo | Comments
Today’s Market Commentary Thursday May 28, 2009
Even the best of the best are having hard time getting a feel for what is coming next. The one thing they have in common is that they are trading the tape, staying nimble, not carrying much risk overnight, and are in position to take advantage of the opportunities [...]
May 22nd, 2009 by jsfalvo | Comments
Today’s Market Commentary Friday May 22, 2009
Well yesterday was a nice follow thru for this down move. Look for light volume today going into to the holiday weekend especially the 2nd half of the day. We could see a bounce today and this down move would not be in jeopardy unless 910 on the SPX [...]
May 20th, 2009 by jsfalvo | Comments
Today’s Market Commentary Wednesday May 20, 2009
As I look at my technical indicators I have 2 and 3 day Snap Back Up patterns on all the major indicies which indicate to me that our longer term up targets for the markets are still within reach. So today I am looking for a continuation of Monday’s move [...]
May 15th, 2009 by jsfalvo | Comments
Today’s Market Commentary Friday May 15, 2009
Today is option expiration and on this day and prior to earning’s release I discount technical analysis because anything can happen. 880 is the number for the day again on the ESM9 (SP500 emini) chart. The sell off I was looking for late yesterday afternoon started and has been selling [...]
May 12th, 2009 by jsfalvo | Comments
Today’s Market Commentary Tuesday May 12, 2009
Well what now, who knows and traders should not care if they are traders because traders trade the tape and take the opportunities the market gives them everyday. Keep it simple and stupid and do not fall into the trap of trying to become a economist to justify your [...]
