Tag Archive for 'Nasdaq'

FB! It’s Time!

Published on May 17, 2012, 6:54 pm in Opinions and Trading. 0 Comments Tags: , , , , .

Put buying accelerated on Thursday as doom and gloom was overtaking all traders. And it really showed into the close. Nasdaq (NQ) got bitch-slapped taking the brunt of the beating…. ES touched 1300…and the YM had its worst day since January. The VIX hasn’t been this high since last year! Was that the capitulation low? If 1300 on the ES doesn’t hold…where’s the next stop? I’m betting on this as the low. Time for a rebound.

Friday is all about Facebook. Traders and the press have been talking and speculating for weeks. They’ve set the price at $38 a share and raised a cool $16 billion…that’s with a ‘B’. It should be a big enough distraction from Greece and the Euro to maybe give us at least one positive day this week! It’s been a while since I’ve seen an OpEx week this ugly….maybe the last time Greece was such a worry.

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Here we go again

Published on April 17, 2012, 8:31 am in Trading. Closed Tags: , , , , , .

Like a bad penny, options expiration is upon us again.  Plus there are a boatload of earnings report during this week. On the good side, it’s a slow economic news week…as if the earnings won’t make it a wild ride already. With earning expectations being lowered during the first quarter, many companies may “beat” earnings allowing for another run up in the indexes.

Like yesterday, markets were mixed as the Dow lead the way up, but AAPL and GOOG dragged down the Nasdaq and kept the S&P and Russell in check. Buckle up and let’s roll! 8O

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So that’s what you think…

Published on April 11, 2012, 8:26 am in Trading. Closed Tags: , , , , , , .

Well….I think we’ve got the full reaction to Friday’s NFP (Non-Farm Payroll Report). There was no U.S. trading on Friday and no European trading on Monday, so Tuesday was the first day when worldwide traders could say ‘FU’ to the report.

AA kicking off the earnings season with a good report, should lead the oversold markets on a bounce up. Globex overnight futures are confirming that. The question…do we go and test the highs first or just reverse and look for a bottom? With the Russell and Nasdaq showing weakness, we’ll need the techs and small companies to turnaround before going back for highs.

We’re going to be looking at the Beige Book this afternoon. And don’t forget, OpEx next week.

Topped and Tapped Out?

Published on February 29, 2012, 8:20 pm in Trading. Closed Tags: , , .

Looking like the trek to the top has been accomplished and now we’re on our way down off the mountain. It’s been a month-long topping process, but the bulls can’t hold it any longer…I think.

Also looks like the Nasdaq led the way down…at least today. And even after some good news in Europe, then good GDP report and a better than expected Chicago PMI. If the bulls can’t do some good with that, well, they’ve got to be tired. Let’s see if the bears take the opportunity!

Manic Monday!

Published on December 19, 2011, 6:30 pm in Trading. Closed Tags: , .

Just another Manic Monday! After a gap up opening, the indexes took the rest of the day to take out last week’s lows and making a new December low. And although they bounced near the close, especially the NQ, the indexes closed closer to their low of day than to their HOD.

Looking bearish, but maybe a “Turnaround Tuesday” in the making…. if volume picks up. Everybody on holiday already?

Spastic

Published on October 26, 2011, 10:45 pm in Trading. Closed Tags: , , , , .

Crazy days in the market…up down and all around. On Monday we closed near the highs, on Tuesday near the lows and then near the highs again today. The markets are different things to different traders…hope they’ve been good to you.

Futures are taking off in the early globex session….up up and away! The Dow and Nasdaq are flirting with their 200-day average, while the S&P and Russell are working to move up and get close. If the Eurozone makes a decision we should fly. Otherwise, up, down, up, down….

FOMC…FU

Published on September 22, 2011, 8:20 am in Trading. Closed Tags: , , .

That’s what traders are thinking….fu! Shifting from short term to longer term bonds and standing still on interest rates? That’s your way of working through a recession/depression?

Even better-than-expected Existing Home Sales couldn’t help. And the strong tech sector finally gave it up also. Looks like we may get some downside follow-through on Thursday. Oh my:!:

Up, down and back to even

Published on August 1, 2011, 10:30 pm in Trading. Closed Tags: , , , , , .

The gap up was expected of course, but the reversal after only 15 minutes was a surprise. I unloaded half my long positions at, as it turns out, the high of the day. My thought was to hang on for a continued up move after a pullback. But, the pullback never stopped!

The S&P, Dow and Nasdaq broke through Friday’s low to notch new lows. But, the Russell did not make a new low…although it did close below its 200MA. The Dow tested its 200MA but bounced back up. The S&P broke through its 200 but managed to recover and close above…. A wide range day on all indexes. You would think with all that volatility the VIX would have gone up. Instead the VIX moved down. With the VIX down and the RUT not making new lows, there is some hope for the bulls.

The House passed the latest version of the debt-ceiling crisis bill. Now onto the Senate. It traders hated the announcement of a deal, just what will they do once it’s approved? Well, futures are near the low of the overnight session as I’m writing. Oh my!

A little bit of economic reports every day this week, but Friday brings the monthly aggravation of the employment situation…which can’t be too good. And of course, the never-ending debt-crisis will continue to wreak havoc. Can’t wait til it’s over so we can go back and worry about Europe! ;-)

Goldfinger!

Published on July 18, 2011, 11:19 pm in Trading. Closed Tags: , , , , , .

Gold finally makes it over $1600 mark…now to see if it continues up from here. The markets went in the other direction with gusto. The NYSE Advance/Decline volume was over -10:1 for the bears. The S&P and the Dow, did recover half of its morning losses by the end of the day. The Nasdaq looked strong in the afternoon…maybe in anticipation of IBM earnings…but there was no stopping AAPL! Wow if really took off.

Still a very crazy market…up and down. Remember,

Better to be in cash wishing you were in the market than to be in the market wishing you were in cash!

Be careful out there.

Are we done yet?

Published on May 17, 2011, 10:02 pm in Trading. Closed Tags: , .

Well, the markets continued their move down today. The eco reports weren’t that great along with some lousy earnings reports. But, there’s always a but, buyers returned in the afternoon, whith the markets closing well of their lows. The Nasdaq Composite actually closed in the green and the SPX almost made it.

And now the futures are also showing some perkiness…matching early returns in the Asian markets!

I think I’ll grab a few bucks from oil and S&P futures before going to bed. Happy trading!