Daily Analysis

June 2, 2008 Stocks were spooked from the get-go. There was a mentality of “sell-first, ask questions later” approach heading into the market’s open. Though the manufacturing and construction reports suggested contraction, that is well known and expected at this juncture in the markets. Instead what we had today were nervous bulls who weren’t expecting

May 30, 2008 Markets closed mixed on the day, but we were thrilled with the action we got out of our portfolio in particular. There are still a lot of bulls out there not ready to throw in the towel because of soaring oil prices. Speaking of oil, on the week, we saw a solid

May 29, 2008 If you want a perfect example of the dumb money getting into oil look no further than when oil inventories report was released today, and there was an instantaneous price increase, only to see those suckers who bought on the report indicating an increased demand, see the gains just as quickly disappear.

May 27, 2008 Though we finished the day with respectable gains, there was a sense of hesitancy by the bulls as it was a “wait-and-see” attitude taken until the end, when buyers starting deploying capital more aggressively. At the end of the day though, volume was weak and buyers aren’t entirely convinced that the sell-off

May 23, 2008 Even despite a mid-day sell-off in oil, the markets couldn’t manage to make any kind of rally ahead of the Memorial Day Weekend. Volume was light in the NASDAQ, while average in the S&P. Oil still managed to advance, which has put a lot of fear into the hearts of traders and

May 22, 2008 The markets didn’t give us the dead cat bounce like were expecting, nonetheless, they managed to find some buying interest today as the indices finished slightly up on the day. Oil was down (for once) and as we said in our prior post, oil is starting to show the symptoms of

May 21, 2008 A combination of spiking oil, and a dismal Fed report sent us spiraling downward. The good news is that in a course of a week, we are as oversold (using a fast stochastics for measurement) as we were back in March when we were hit with the Bear Stearns collapse. What does

May 20, 2008 Spiking oil and a not-so-great PPI report sent the markets down today on a descent amount of selling. Even still, we don’t view today’s action as a change in direction for the markets. No trend lines, and no support levels were broken. At this point we still remain bullish on the markets

May 19, 2008 The markets started off good, but weakness heading into the afternoon had stocks finish in mixed fashion. The bears were definitely roaming the streets to see if this latest bull-run had any vulnerability. Though the NASDAQ finished in the red, it wasn’t by much, and the attempt by short sellers to push

May 16, 2008 What better way to end the week then to see the bulls fight hard to the finish to put off the efforts of the bears to keep the markets in the red. For most of the day we lingered in negative territory, but by the close the bulls had fought back valiantly