Daily Analysis

July 1, 2008 US stocks to traded modestly higher into the close after a strong selloff this morning. The recovery can be attributed to short-covering, better economic data, a reversal in the financial sector and bargain-hunting. The morning trading had an eerie feeling of possible panic selling but it did not follow through to the

June 30, 2008 The markets opened weak on the heels of soaring oil that traded to a new record high, yet again. However, money came off the sidelines as oil prices pulled back off of their highest levels of the day. Some investors were looking for deals after last week’s sizable selloff. When the bell

June 27, 2008 If you’re like most, then the mere fact that the markets will be closed tomorrow comes as a relief. The lack of any positive news and continued stresses within the financial sector along with rising oil prices kept the markets under pressure once again. Investors are now worried that consumers will be

June 25, 2008 Investors and traders alike were jumping on the bandwagon leading up to the FOMC statement, expecting a positive reaction on Wall Street from its release. But after an initial run-up in price, the markets spent the remaining portion of the day retreating. It was an amazing balancing act by the Fed in

The market nicely filled the gap at the market open today, getting into positive territory before lunch time. But unsure what the Fed might say in their comments tomorrow, was cause for profit taking before the closing bell. On our hands, we had a weak consumer confidence report along with worries of oil’s impact on

June 23, 2008 Today’s action was extremely muted as it awaits to see what is in the Fed’s plans for this week. Tomorrow starts the two-day Fed meeting climaxing on Wednesday when the FOMC statement is released. Don’t expect any rate cut out of Benny & Co. In fact, many are beginning to believe that

June 20, 2008 Freaky Friday once again reveals itself on options expiration day. These days always tend to be volatile and it was no different today. Oil went back up (no surprise) and credit problems continue to cause ulcers for Wall Street. Back in January we had to deal primarily with the credit woes plaguing

June 19, 2008 If you’re prone to sea-sickness, then it may have served you well today if you never looked at an index chart. Nearly the entire day the markets were fighting between positive and negative territory. The bulls won the day, but not without a concerted effort on the part of bears to try

June 18, 2008 The bears continue to trounce upon every hope the bulls once held dear, as the markets once again sold off about -1% on the day. Oil was up after spending most of the morning in the red, and the financials are still causing worries for Wall Street. Here’s the deal…rising oil prices

June 17, 2008 As mentioned yesterday, if we hit the overhead resistance level in the S&P and subsequently sell off, then we could be staring at the next leg down in this volatile market. Today we got just that. From a trading stand point, Inverse ETF’s like SDS (S&P 500) that return 2 for