Market Analysis

[NY4Ever]

Dow up 73 and Nasdaq 14.40. That's all folks. Rally is over for the week. Thursday a big down day.

[New-born baby]

Wonderful!

Dow up 73 and Nasdaq 14.40. That's all folks. Rally is over for the week. Thursday a big down day.

That's good news! I sold out of the money MAR calls on all my stocks, so I'll get to keep the call money and the stocks!

[Adman]

I would tend to agree with you on most other weeks and take Friday off to play golf or get an early jump on the traffic to Killington, but this Friday is Triple Witching Day.
The final hour of the stock market trading session on the third Friday of March, June, September, and December, when option contracts and futures contracts expire on market indexes used by program traders. The simultaneous expirations often set off heavy trading of options, futures and the underlying stocks, which can cause large fluctuations in the value of their underlying stocks.
With that said, you will need to keep an eye on your long positions for gains (and losses).

[dmk112]

Dow up 73 and Nasdaq 14.40. That's all folks. Rally is over for the week. Thursday a big down day.

What is your basis?

[ninner]

disagree with NYever

i think the market has more to go before it funs out of steam...

cheers

[IIC]

i think the market has more to go before it funs out of steam...

cheers

How much more ninner...Naz Comp-wise?

[ninner]

im an optimist

i think we go to 2400...we have some nice volume days and the STO isnt in the overbought area yet...i think we break the 2300 resistance today was a nice candle day so i think there are some more buying by big investors to be had.

cheers

[IIC]

i think we go to 2400...we have some nice volume days and the STO isnt in the overbought area yet...i think we break the 2300 resistance today was a nice candle day so i think there are some more buying by big investors to be had.

cheers

Thanks...I believe 2332 offers resistance in the recent range...And my S/R scanner says 2355 will be tough...although I have not been able to figure out why on the 2355 resistance figure.

2270's now offer extremely strong support...But my crystal ball still says 2220

[ninner]

yes 2332 will be tough resistance, however, a few things lead me to believe we can go through it....first, this will be the third time going to this level and the signals werent that strong the first 2 times...this time we had a bullish harami signal when the STO were in the oversold area and 2 days later we had an engulfing signal which totally confirms this signal....definately some buying going on.

[ParkTwain]

Dow up 73 and Nasdaq 14.40. That's all folks. Rally is over for the week. Thursday a big down day.

This sort of statement is really not useful, helpful, or informative to anyone. Maybe you're just flipping a coin. No context for your posts = noise.

[Jim Smith]

I know one thing, I posted this rally wasn't over till DD reached $43.50 which it did yesterday......But now I have another tell, this rally isn't over until CSCO reaches $23....pullbacks can occur at any time.

[NY4Ever]

Today's opening should prove a good selling opportunity for short term traders.

[NY4Ever]

Today's opening should prove a good selling opportunity for short term traders.>>

Certainly true if you sold almost any tech stock on the opening as the Nasdaq dropped the equivalent of 75 Dow points today. The only traders who buy at the bottom and sell at the top are liars.

[spikefader]

I'm a bull.

[NY4Ever]

A brutally selective market. End of quarter window dressing has already begun. That should keep the indices from selling off significantly. The FED is going to 5% but that will be it for the time being. Stocks will selloff on the news as it is already in the market. GOOG should be sold by the end of the day Friday if anyone still owns it as its inclusion in the S & P is its last harrah. Is the market in a topping out phase? That is the question and I am in the camp that believes it is. Just my thoughts.