Monthly Archives: July 2006

monday update

SHORT TERM: quiet day to end the month. Stocks gapped down at the opening, but quickly recovered and made the high for the day by 10:30. After that the day was spent within the first hour’s trading range. A fairly … Continue reading

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monday morning

SHORT TERM: the NDX is starting to lead this market. Overnight the Asian markets were mostly higher with the one exception China’s SEC which is correcting. Europe came in about 0.50% lower. As a result we gapped down on the … Continue reading

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weekend update

REVIEW: Stocks rallied strongly this week after last week’s options expiration, and the news of a slowing economy in the second quarter. The major indices: SPX/DOW/NAZ/NDX were up between 3% and 4%. And, more importatly, the SPX/DOW confirmed new uptrends … Continue reading

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friday update

SHORT TERM: sell the rumor, buy the news. The economy was expected to turn down in the second quarter, which it did. But no one expected it to slow down as much as it did, except the market. The bulls … Continue reading

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quick note … correction should be over

It appears the cyclical SPX/DOW are pulling this market out of the correction. Their intermediate term trend has reversed, and thus far the rally looks impulsive. Changing my intermediate term and long term ratings: INTERMEDIATE TERM: SPX/DOW uptrending, NDX/NAZ impulsing higher  LONG … Continue reading

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friday morning

SHORT TERM: Second quarter GDP comes in 2.5% versus 5.6% first quarter. Overnight the Asian markets were mixed, with the NIK showing the best gains. Europe came in about flat on the day but the FTSE still over the much … Continue reading

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thursday update

SHORT TERM: market pulls back after gap up opening. Stocks rallied for the first 15 minutes this morning as all the indices reached their highest levels in two weeks. Then the market pulled back throughout the day. At the close today the … Continue reading

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