“The Standard & Poors is now challenging 1490 once again, and if it can move significantly through that level it will have proved itself worthy of another run at its old highs.” – Michael Kahn, “The Bulls Have The Ball…
“Starting on the fourth day of the attempted rally, look for one of the major averages to ‘follow through’, meaning it shows a booming 2% or more gain on heavier volume than the day before. This tells you the rally…
I’ve now heard this three times in the last 24 hours, twice by technical analysts I respect and once on CNBC yesterday afternoon by I forget who. 1490 on the S&P seems to be some kind of line in the…
Microsoft (MSFT) is having its biggest day in a long, long, long time – up $3.04, 9.50%, to $35.03 currently. It is the most actively traded stock on either the New York or Nasdaq Stock Exchanges by far with more…
Kirk this morning put up the interview Stocks & Commodities Magazine recently did with him. Lots of interesting stuff such as why he decided to become a full time independent trader, why he decided to get out of the newsletter…
I was just looking at Schwab’s 3rd quarter report and one of things that struck me is how much trading volume on the New York Stock Exchange and the Nasdaq dropped off from August to September. Volume was down 27%…
It was a truly monster day on The New York Stock Exchange. 3043 of 3434 issues advanced – a ratio of almost 9 to 1. And up volume of 1.59 billion of a total volume of 1.6475 billion means that…
One of the most interesting articles I read this week was an observation by the ever insightful Mark Hulbert that we’ve had three 9 to 1 up days in the last 3 weeks: Friday Aug 17, Wednesday Aug 29 and…
The fundamental tenet of technical analysis (i.e. chart reading) is “the trend is your friend”. Now, I think there’s a lot to this. Trends tend to be based on economic and financial forces. As long as those forces remain in…
The Dow is poised to close below 13,000 today for the first time since April. It took about 3 months to get from 13,000 to 14,000 – and it looks like it’s only going to take 19 trading days to…