Monthly Archives: October 2009

10/26 – 11/3: No Blog Entries

Due to a family emergency I will be unavailable for the next week or so.

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10/23 – {Sniff, Sniff} Smells Like Distribution In Here

The market sold off hard today, reversing most of yesterday’s gains and extinguishing all of the S&P 500′s gains for the week.  The Dow Industrials lost 109 points today (-1.08%) while the 500 lost 1.22%.  The Nasdaq Composite fared much … Continue reading

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10/22 – It Was A TKO Kinda Day

The market moved higher with conviction today albeit on lower volume than yesterday.  The Dow Jones Industrials added 132 points to close at 10,081 (up 1.33%).  The S&P 500 Index gained 1.06% and the Nasdaq Composite was the “weakest link” … Continue reading

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10/22 – Special Update to Yesterday’s Entry

I heard back from Mr. Suri Duddella, whose chart I included in yesterday’s blog entry.  I mistakenly characterized his field of expertise as being in Elliott Wave analysis.  He corrected me, explaining he does some EW analysis but primarily performs … Continue reading

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10/21 – Another Look At Resistance

The market held up well today until the final hour, when a downgrade of Wells Fargo set off a cascade failure of financial stocks that ended up dragging down the market to a close near the lows.  The Dow Industrials … Continue reading

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10/20 – And Now For Something Completely Different

Rather than the usual review of the day’s action, I’d like to share my thoughts on a new ETF rating service.  I’ve been playing with it for about three weeks now and find it very useful. TradingMarkets.com now offers a … Continue reading

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10/19 – Serious Resistance Ahead

The market reached a new 12-month high today as the rally pushed on while the dollar fell once again.  Same stuff, different day, eh?  The Dow Industrials traded above 10,100 intraday to close at 10,092, up .96%.  The S&P 500 closed … Continue reading

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10/16 – And That’s The Way It Is

The market closed the week out with a solid gain albeit after some profit-taking today, with the Dow Industrials closing just under 10,000 at 9,995.91, down 0.7%.  The S&P 500 slipped 0.8 percent to 1,087.68 and the Nasdaq Composite was … Continue reading

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10/15 – “I’m Wandering….”

Watching today’s action kept reminding me of the John Lee Hooker song, “I’m wandering.”  The stock market was down all morning, rose into positive territory after lunch, fell again but rallied to close back above 10,000.  The Dow Industrials closed … Continue reading

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10/14 – Thank You, NR7!

The Narrow Range 7 paid off in spades today as the Dow Industrials closing at 10,015, up 144 points (1.47%) on better-than-estimated earnings at JPMorgan Chase & Co. and Intel Corp.   This was an important psychological barrier and the first time … Continue reading

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