Today's action

Discussion in 'Trading' started by aaronk321, Jun 13, 2007.

  1. Stocks advance broadly in lower volume.. Not good.

    Current outlook - Rally under pressure

    Distribution days in recent weeks;
    SP 500 - 5
    NYSE - 6
    Nasdaq - 8

    Volume fell modestly across the board. That was a disappointment given the indexes' big and broad advances.

    Still, Wednesday's dip in trading was small compared with the last time the indexes rallied more than 1%. That was Friday, when volume dried up much more.

    Despite the raft of distribution days in recent weeks, the major indexes have held in a fairly tight trading range. They remain 1% to 2% off their recent highs.

    Leading stocks did their part to bolster the broad market.
  2. How do you define distribution day? Up with lower volume?
  3. Today's action 6/15/07..

    Stocks surge on higher volume.
    Market is in confirmed rally.

    Stocks notched broad gains in higher volume Friday, putting the market’s rally back on track.
    The Nasdaq gapped up at the open. It held its gains through the session, closing up 1.1%. The Dow climbed 0.6%, the S&P 500 0.7% and the NYSE composite 0.9%.
    Volume vaulted 41% on the NYSE, 27% on the Nasdaq.
    Friday’s gains in higher volume marked a change of course for the market. On Wednesday and Thursday, stocks bagged sizable gains but in lighter trade. Gains in higher volume typically point to greater interest by big-money institutional investors, a must for a rally to succeed.
    The day’s action did come with a caveat: quadruple-witching options expiration, an event that can lift volume totals. But the market had multiple other factors working in its favor.
    The major indexes scored solid price gains. The Nasdaq hit a multiyear peak. Other indexes closed just short of new highs.
    The action of leading stocks further underscored the market’s strength. The IBD 100 galloped 1.5%. That marked the third straight time that the IBD 100 had outperformed the broad S&P 500.
    Today’s Market Pulse reflects the market’s change of course, with the market back in a confirmed rally. That means investors can resume looking for new buys.
    But don’t turn overeager. Target only top-quality stocks. Buy only as stocks break out of well-formed bases or cross secondary buy points in robust volume. It’s better to own a few top-tier leaders rather than dilute your portfolio with a mess of low-grade stocks.
    If you botch a buy, cut your losses quickly. Ditch laggard stocks that aren’t working. Look for chances to add shares to strong, winning positions.
    Following a sound set of buy and sell rules is the hallmark of successful investing in any market climate.
    Friday’s rally included a strong showing among small-cap stocks. The S&P 600 motored 1.2%.
    Highly rated midcap stocks such as Green Mountain Coffee Roasters and Russian broadcaster CTC Media sprung out of short consolidations.
    MasterCard, a larger institutional favorite, bolted 5% to reach an all-time high.
    Another round of tame economic data helped stoke the rally.
    The consumer price index rose 0.7% in May, topping estimates. But the core CPI, which strips out food and energy prices, climbed just 0.1%, below views.
    That reading echoed Thursday’s core PPI data. It also helped calm the inflation fears that gripped investors and briefly cast the market’s rally into doubt.
    The yield on the benchmark 10-year note sank to 5.15% from 5.22% Thursday, after surging to 5.30% earlier in the week. On the futures market, the probability of a Fed interest-rate hike fell to 12% from 24% Thursday. The ebbing inflation fears fueled a brisk rally for the week. The Nasdaq advanced 2.1%. The NYSE composite added 1.9%, the S&P 500 1.7% and the Dow 1.6%.
  4. According to IBD

    1. An occurrence where trading volume is, without any price appreciation, higher than that of the previous day.

  5. I've been looking at the IBD lists - IBD 100 and their CANSLIM Select. They list some great momo stocks. I just have to figure out a system for the buy point and exit point.

    I've used other screeners - eg.. MSN, Stockfetcher and can't seem to get the movers like IBD.

    I'm looking to get a good entry into SYNL, TTES, AZZ, ACH and SPAR. These stocks can give and take 3-5 points on a good day.

    Hell, I wanted to jump into ACH at 26 and said it was too high then it went to 34 and retraced to 31. I missed all of it by hesitating now it's 40+. Instead I bought shit stocks like brlc and divx because it's cheap and lost my ass.

    Why or why do I play these shit stocks when I know it's not going anywhere. I even wrote it down to remind myself not to play the bad stocks and somehow/someway I get back into it.
  6. thats a trap many of us fall into..BRLC and DIVX are dead stocks..IBD is great to use..i use their top 10 list of stocks moving on high volume for some daily plays as well..they update the list throughout the day,thats just one of the many tools i use for finding good stocks..remember when RIMM was 14 bucks and it went to 40,everyone thought they missed the boat..what i have found is when a stock has a 5-10 point move straight up(parabolic),wait for it to consolidate for a few weeks then but..that does'nt mean a big pull back but at least a rest...
  7. DIVX is about to pop and BRLC has to close over 5.75 and then it will go to 14. A close under 3.5 would be a disaster.
  8. Oh.. I really believe in DIVX that's why I keep going back into to this POS. Last year, I rode it from the 20s to the 28 and did really well. Guess what, I gave it all back and then some on this POS.

    However, I really believe DIVX would be high flyer in the future. Recently, It's just not doing shit for me except to drain my account.

  9. Do the opposite of michael. he is a putz
  10. Are you basing DIVX on an almost reverse head and shoulder pattern forming from may to now..

    #10     Jun 16, 2007