Everyone needs money. Now, it's the Insurance companies. HIG, ALL, LNC, PFG, AMP and PRU have been approved to take Government TARP money. Their stocks are trading up on the news. Actually, they traded very well yesterday before the news today. lol. But, is this like getting favors from the devil? The Governement wants to change the board of BAC, a TARP recipient. The Government is spreading its tentacles into the Economy. I'm not sure if that's goog or not. The French Government controls 45% of its Economy. America may get there once it controls Health Care.
Japan was up 190 bips while the Hang Seng closed higher by 150 bips. The Sensex was up 250 bips. Europe is trading relatively flat. Our futures are down. Kind of feels like a down day to me but I'll trade what I see not what I believe.
Note that I'll be out of pocket next week. Who will hold down the WFR Fort for the bored?
1) Goog earnings/guidance? JWN, FUQI and MIDD.
2) Goog upgrades? Baird likes URS, Jefferies likes ENS, Piper likes PETM, ThinkEquity likes SNDK and BAC likes little ZLC.
3) Goog gappers? HIG, PRU, LNC, AMP, ALL, ENZN, MGM, LVS, MIDD, ADY, BCS, NOK, JWN and GOLD.
4) Bad gappers? BBI, ANF and OSIP.
5) Cramer? YHOO!!! And, he keeps recommending NAT.
6) GSK - Gets new orders from various Governments to stockpile a new H1N1 drug candidate.
7) BCS - Up on news it may sell its Asset Management business.
8) FIG prices 40 million shares @ $5/share, ENR prices 9.5 million shares @ $49/share, PL prices 13.5 million shares @ $9/share and WAL prices 29.2 million shares @ $6/share.
9) IBD likes WMS.
10) Trade of the Day? Biotech Analyst on Fast Money likes ALXN. Says they print money. This stock will trade up today.
Darth, I was studying this whole weekend, would you please help me with this one?
The stock I attached is a top campany who make solar cell in Taiwan. http://www.mosel.com.tw/
The chart looks like a "head and shoulder" which is bearish.
But it also looks like going to bounce base from Pesavento's Pattern Recognition pattern 2.
In Taiwan's market, there is a 7% up and down rule, which is
if a stock go up or down 7%, it will lock up. Like in the chart, 3/19 and 3/27, the stock shoot to it's 7% high and locked up when market open. That's why the volume is so low.
Thank you for your time.. :)
A second day of pathetic volume.
The S&P is below its trendline. If it closes below 882 look next week for the successive tests of 870, 830, 800. If it breaks 800 look for the test of 741.
I heard someone last night say they think the new trading range is 666 - 930. I doubt we will test 666 again, but 740-760 range would set up for a bullish inverted head and shoulders.
If Obama doesn't stop destroying American business 666 will not be the bottom.
JPM & $RIFIN.X are still at their trendlines. A close today below $34.17 puts JPM below its trend. A close of RIFIN below 602 would be below its trend.
The NAZ 100 and COMPX are below their trendlines. They are riding upward along the trend but below it.
As is usual lately the last hour of the day tends to determine the outcome.
I think you nailed it yesterday... no one wants to buy because they think it's going lower. No one wants to sell because they think it's going higher. Lets all just stand around and do nothing.
I'm going to go work in the yard.
Have a nice weekend all,
Hope that doesn't go back to 660.
I see a great battle of the DJIA between 7650 and 7680 and if it repeats its excess (150 points reaching 8600 distorted my maximum of 8444), is likely to be turning on in 7500 (the same 150 points but this time in default).
At the moment i not see the SPX below 700. Conjecture and only that.
I want everyone working and can not bear to read one more than 0.00001% unemployed.
Dear Darth, I am trying so hard not to ask you question, but just can't help it.. ^^ While I am waiting the book you told me earlier to arrive, I found some stuff from Joseph Donapoli. What do you think about him? And still, For QQQQ, I though it has strong support at 31.3 to 31.6. How come it still want to fill that gap to 30.77? Thanks!
It's been my experience that the Q's like to fill her gaps. In time, that gap to QQQQ 30.77 will get filled in all likelihood. I'd like to see it filled before moving back up the wall of worry. Given recent volume trends, that's what I expect to happen over the next week or two.
DiNapoli? I do have one of his books. He's a proponent of using displaced moving averages.
Ok, so we've move back 50% of the swing down from QQQQ 34.72-32.96 to 33.82 and closed a gap from the 13th all on light volume. Can the Q's move to the .618 retracement to $34.05/share. Yes, but I see us moving down to close a gap to around QQQQ 30.77 next week or the week thereafter. Let's see if I'm right. We'll know pretty quickly on Monday imho.
I did notice some nice stocks. Most of energy is down except GTLS stands out. I think Squanto the Indian liked this one.
Other interesting stocks to me include ADY, SYUT, YGE, APWR, WX, JST, ARST, SFLY, TREE and BCRX. They must like Chinese today.
I get the sense that someone "knew" something about WX yesterday. As they say, volume before price.
WFR? She tried to move up but SMH let her down.