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May 4th Daily Market Comments

The indexes continue to trade below the T-line, expect the Dow and the S&P 500 to test the 50 day moving average within the next few days. The strategy remains the same, have both long and short positions in the portfolio but obviously more oriented to the short side for the short term. … [Read More...]

May 2nd Daily Market Comments

The NASDAQ is trading slightly positive. Currently it is producing a bullish Harami/Doji right on the 50 day moving average with stochastics just getting into the oversold condition. It will be very important to see how the indexes finish the day. But the nature of the market continues, strong sectors remaining strong with weak sectors remaining weak. There are very good uptrending positions as well as good bearish positions. … [Read More...]

April 28th, 2016

The lower open in the Dow today could have been scary but at the same time the qqq's were opening positive. This was a good indication that the markets were not turning over. Although the Dow and S&P 500 are currently not doing anything with great resiliency, they are still trading at or above the T-line. Stay long. Gold stocks and oil stocks are still acting strong. … [Read More...]

April 27th Daily Market Comments

The sideways nature of the market still persists. The Dow, transportation index, and the S&P 500 are all hovering in the T-line area, not showing any directional move one way or the other. The NASDAQ gapped down today and is currently trading just below the 200 day moving average. A close at the lower end of the NASDAQ trading range would imply the 200 day moving average was not acting as support, making the 50 day moving average as the next target. This would indicate more downside over the next few trading days. Any long positions should continue to demonstrate strength, oil stocks and mining stocks continue to act well. … [Read More...]

April 25th Daily Market Comments

After the indecisive Doji day on Friday, the markets needed to open positive today to indicate the T-line area was going to act as support. Today's weakness indicates more downside/consolidation. However, gold has moved back up in price making the gold stocks relatively strong. Oil stocks and biotech's continue to act well. Any long positions held in the portfolio over the next few days should be in the strong sectors. Add some short positions to the portfolio. … [Read More...]

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