Market Review (11/30/2012)

Stocks closed modestly higher today, although the markets were not in one particular trend the entire time.
We had a very turbulent month in which the markets pretty much rode on news from Washington about the "fiscal cliff" and the Presidential election. Hugh downdraft at the beginning of the month while an upsurge at the end of the month have us pretty much flat at the end of the month.

Today's Numbers
DJIA - +0.03%
SP500 - +0.02%
NASDAQ - -0.06%

Could see a much larger upside after getting pass the 50 DMA hump.

End of Month Numbers
DJIA - -0.50%
SP500 - +0.30%
NASDAQ - +1.10%

DECEMBER PREVIEW

The main concerns for the market right now is news from Washington about the fiscal cliff, whether or not the lawmakers can reach an agreement on policies. Also, one major concern that comes to mind that can decide the fate of the market at the end of 2012 is if a possible Greece exit from the Eurozone happen and Spain debt problems that can potentially escalate.

This upcoming week can set the tone for the rest of the holiday month. Here is what Econoday is saying:

"The spotlight is on the consumer as indicators start to report on holiday season activity.  The highlight is Friday’s jobs report for November.  But earlier, we see if motor vehicle sales rebounded from Hurricane Sandy while ADP hints at private payrolls. Updates also are posted for sentiment and consumer credit.  With the manufacturing sector wavering, traders likely will give extra attention at week’s open to the Markit PMI and to the ISM manufacturing survey."

-Simply Economics (Econoday)

Market Review (11/28/2012) and preview for tomorrow

The markets rebounded today on upbeat news from Washington regarding the fiscal cliff and signs that the Fed continues its bond buying program.

DJIA - +0.83%

SP500 - +0.79%

NASDAQ - +0.81%

Very important data (GDP and jobless claims) being released pre-market. 

We could see a big move tomorrow if the 1410 level is broken out when the data comes in tomorrow.

WATCH LIST TOMORROW

CORT - looking for the run above

KERX - break over $3

PRMW - still flagging and it looks like its ready to just about run

MNKD - looking for this to go to even the 2.25 area

ZQK - break over $4

Good luck tomorrow!

Market Review (11/27/2012) and preview for tomorrow

The US Stock Market experienced a brief sell off today as concerns grew over the progress of budget negotiations in Washington. Even if we had a better-than-forecast report on durable goods and European agreement on Greece aid, we saw a broad decline ahead of the market's close.

DJIA - -0.69%

SP500 - -0.52%

NASDAQ - -0.30%

Keep a watch on the New Home Sales data coming out tomorrow which could potentially decide the direction of the market.

The SP500 is still holding above two key resistance levels as we possibly move into a tight consolidation zone. There is strong resistance at the 1410 level which can be broken if we have strong data tomorrow.

WATCH LIST FOR TOMORROW

GNOM - looking for it to break above the triangle

SMP - long setup

ARRY - gap fill watch

QLTY - this thing is almost overbought but can possibly fill the gap

Keep an eye out for the two stocks I mentioned yesterday just because they might still be in play : STEC, SPA

Market Review (11/26/2012) and preview for tomorrow

Brief sell off in the market today. After five days of the market being in a bull setting, we finally came to a halt. Thanksgiving weekend sales-growth came in below last year's levels. The NASDAQ continued in the green for a sixth day.The telecommunications and energy sector took the biggest hit today as they fell sharply. 

DJIA - -0.33%

SP500 - -0.20%

NASDAQ - +0.33%

There is still two major support levels(20DMA and 200DMA) holding the sp500 in place. As long as there is positive news coming out from Washington about the fiscal cliff situation we should be able to at least hold, if not move up to around 1430.

WATCH LIST TOMORROW

STEC - process of filling gap 20 DMA could be good support

ZIP - bounce play

IQNT - bottoming up possible bounce play

BGFV - flag breakout

SPA - inching up to resistance, keep on watchlist

Still keeping CLWR, ODP on watchlist because their setup keeps getting better!

Market Preview (11/26/2012-11/30/2012)

We had a very bullish run in the market last week which could set off a nice end to November. The entire month we have seen nothing but red and ending in the green could be good going into the holiday month.

A few things to watch this week include:

Monday - Chicago Fed National Activity Index, Dallas Fed Mfg Survey

Tuesday - Durable Goods Orders, S&P Case-Shiller HPI, Consumer Confidence, FHFA House Price Index, Richmond Fed Manufacturing Index

Wednesday - New Home Sales

Thursday - GDP, Jobless Claims, Pending Home Sales Index, Kansas City Fed Manufacturing Index

Friday - Personal Income and Outlays, Chicago PMI

As we can see, there is some important data to be released that can really drive the markets for the end of November.

We have to watch for a huge psychological resistance around the 1430 area in the SP500 which is also where the 50 DMA is right now.

WATCH LIST FOR TOMORROW

COOL - keeping this on the watchlist to test the $1 zone after bottoming out.

BPAX - stock is bottomed out, looking for this to break the $1.25 resistance to possibly run to $1.40. Also testing the 20 DMA.

MVIS - break of tight range into resistance of $3. upside of at least 40 cents possibly.

MOTR - break of trendline and 200 DMA. good upside.

ODP - this one is just about ready to make a big move.

Market Review (11/23/2012)

The equity markets ended the week on a good note with stocks really picking it up today and making large gains. This week was the best week the markets actually had since the week of June 8^th. As markets get more volatile, we can expect many surprises. The European Markets had their best week in nearly a year.

DJIA - +1.35%
SP500- +1.30%
NASDAQ - +1.38%

Tech stocks led this major rally as volume was one of the lightest in the year. The SP500 closed over two key technical levels which could be major support for the upcoming week (MA20 and MA200).

Market Review (11/21/2012) and preview for tomorrow

I hope everyone had a fantastic Thanksgiving. Back to the markets tomorrow. Half day tomorrow.

DJIA - +0.38%
SP500 - +0.23%
NASDAQ - +0.34%

Not much of a move, relatively flat day. Possible black friday rumors/data can determine the direction of the markets tomorrow.

Good luck!

Market Review (11/20/2012) and preview for tomorrow

Relatively flat day in the markets today. During the morning the markets were trending up but when Bernanke spoke we lost momentum and switched to the downside. We recovered late afternoon and then ended green at the end of the day.

Down Industrials - -0.06%
SP500 - +0.07%
NASDAQ - +0.02%

Looks like markets going to hang around this area because the 1400 1410 area looks like a strong resistance. I don't see it breaking that area like I mentioned yesterday.

Data including jobless claims and PMI manufacturing index are being released before the market open tomorrow. This data including other data (consumer sentiment and leading indicators) could decide the direction of the market tomorrow for the most part.

ODP - I am still keeping this on my radar looking for the break over about 3.03

BCRX - looking for it to fill the gap

CLWR - break of the range

PRMW - looking for the breakout of this range

Good luck!

Market Review (11/19/2012) and preview for tomorrow

Great day in the markets today and the major indices all rallied today. MAJOR RALLY! The Dow Jones Industrial Average made its biggest rally in more than two months. Strong data from the housing market and investors looking for signs of compromise in Washington on the "fiscal cliff." European markets rallied on speculation on U.S. fiscal progress.

Dow Industrials - +1.65%
SP500 - +1.99%
NASDAQ - +2.21%

Looks like the upside is until the 1400 1410 area for the SP500 during the week. We should most likely see the markets hang in that region this week.

Important data to be released for tomorrow that I am looking for is the Housing Starts data. Fed Chairman Ben Bernanke is also speaking tomorrow which could decide the direction of the markets for the remainder of this week.

CLWR - huge flag waiting for the breakout off the triangle

HGSH - this has upside left. good housing data came out today lots of juice left on this stock

OCLR - keeping on the radar for now, there is interest in this stock. more upside left

ODP - looking for the breakout

Upcoming week preview (11/19/2012-11/23/2012)

We had a nasty selling week in the markets last week. As the 200 DMA was broken on the downside, the markets didn't look back. 

We can see here that the S&P500 had strong selling activity

As we move into the shortened week due to Thanksgiving, some important things which are happening to take note of on the calendar are the release of existing home sales data, housing market index, housing starts,  and most important which is jobless claims. Fed Chairman Ben Bernanke is set to speak at the Economic Club of NY which can potentially move the markets. Renewed conflicts in Israel and the Gaza strip along with the fiscal cliff uncertainty in the United States make it tough for the market to find direction.

Thus, this is an important week which can decide the fate of the economy and the markets while politicians battle among the possible fiscal future.

The Plan

It's always important to have a set of trading rules that can help me stick to the "plan." A plan is essential and without a plan you're destined for failure. Casinos have a plan that they stick to which is called the edge. Without the edge, the casinos wont be in business but it this edge that has them making loads of money off of  suckers.

In the same way, professional traders started with a plan and stick to the plan daily when they take money away from amateur traders who have no idea how to be disciplined. Treat this as your business and you will see money flow in.

1) Study, study, and study.
2) Log every trade that you get into and see what you did right/wrong in that trade.
3) Cut losses short, and let your profits ride. At the same time, keep greed and fear out of the equation. It is much harder to do than speak of but it is possible.
4) Keep "hope" and "wish" out of dictionary. Also, the only place where success comes before work is the dictionary.
5) Don't listen to me or whatever else anyone has to say about the stock market. Form your own opinions, these are my thoughts on the market. My plan is what works for me. Make your own and stick to it. Don't break the rules.