Daily Market Comments - September 2007
9/28 - Stock Market Comments
The morning futures are slightly softer, but it's nothing that would indicate a change of investor sentiment. Today is the last day of a quarter. You might see some position shifting, but nothing that would reverse the current uptrend. A test of the recent highs is still the most likely projection. Continue to hold long positions.
9/27 - Stock Market Comments
After the Dow traded flat for a week, it formed a little Morning Star signal on Wednesday. Note how Tuesday's trading just touched the T-line. On Wednesday, the strength in the market indicated the Bulls were still in control. Continue to stay long with an anticipation of a test of the recent highs.
9/26 - Stock Market Comments
Some of the economic news this morning could have been very bearish but the futures appear to have latched on to the good news. Tuesday's market consolidation ended up with the Bulls still showing control. There have been some very strong price moves in this market which is indicative of the strong bullish sentiment that is prevailing.
9/25 - Stock Market Comments
The sideways movement in the markets was apparent on Monday. Look for more consolidation until the T-line has a chance to come up to the price trend.
9/24 - Stock Market Comments
The definition of a bull market is a market that is going up in spite of any bad news that is reported. The markets had an opportunity to continue their consolidation on Friday but showed reasonably good strength. This continues to demonstrate that the Bears are not in control of this market trend, the Bulls still maintain the upper hand. Continue to hold long positions and continue to have a short position or two in the portfolio. There are definitely strong obvious sectors. The solar sector is performing extremely well.
9/21 - Stock Market Comments
After the markets consolidated on Thursday, this morning's futures are showing very good strength. Keep in mind today is quadruple witching day for options. Currently the bullish trend should be able to approach the recent highs in the market. Continue to hold long positions.
9/20 - Stock Market Comments
The trend is obviously up but be prepared for some backing and filling. The Dow has moved away from the T-line. This would indicate that the market will move sideways or pull back until the T-line can catch up. The financial/mortgage related stocks are still getting positive results from the rate cut. As usual, maintain positions in the strong sectors.
9/19 - Stock Market Comments
The bullish sentiment was obviously witnessed after the 1/2 point cut in interest rates. Tuesday's trading brought both the Dow and the NASDAQ well above the 50 day moving average. Unless there is a huge reversal today in the markets, anticipate the uptrend continuing until a test of the recent highs is accomplished. The rest of the world markets all like what they saw on Tuesday.
9/18 - Stock Market Comments
Monday's lackluster movement in the markets was indicative of the "wait and see" attitude until the Fed's announcement today. This morning's futures are showing good strength, not the "calm before the storm" as expected. Anticipate a whipsaw action once the report comes out, but then see how the reaction settles down going into the close. Underlying factors such as better than expected earnings are still being observed. Continue to view the slow uptrending channel as the main