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Daily Market Comments - February 2012

2/29 - Stock Market Comments

Premarket futures indicate another relatively flat opening but still slightly positive. Nothing can be construed from this opening other than investor sentiment is still the same, no dramatic change from what has produced a slow steady uptrend. Continue to stay predominantly long with a short position or two in the portfolio. Watch the airline sector today.

2/28 - Stock Market Comments

Yesterday's trading of the markets was very informational. The initial selling was then followed by slow and steady buying that continued for the rest of the day. This brought the indexes back up well above the T-line. A Doji was formed in both the Dow and the NASDAQ. Today's premarket futures, showing a slightly positive sentiment, indicates the Bulls are still in this market. Stay long, be nimble, be patient.

2/27 - Stock Market Comments

The magnitude of today's lower open still does not indicate a change of investor sentiment. Continue to remain predominantly long in the portfolio, but it would be prudent to have one or two positions on the short side. Until this market shows definite reversal signals and a close below the T-line, stay long. But do not be hesitant to take profits when a chart shows a sell signal.

2/21 - Stock Market Comments

The market trends is showing a little bit more strength than the previous two weeks sideways move. This makes the upper end of the trend channel a likely target. Overall, without any severe selling, the slow uptrend is still in progress. This makes for comfortable trading using the strong buy signals/patterns.

2/17 - Stock Market Comments

Premarket futures are showing a slightly positive open today. This would put the Dow up above the recent highs, indicating an uptrend moving up into new territory. The NASDAQ would be continuing its upward trajectory. A slow climbing market this morning would be better than seeing exuberant buying coming into the markets. Continue to own long positions with good chart patterns.

2/16 - Stock Market Comments

The premarket futures are not showing any movement today. This could illustrate a Doji type day setting up. If there does not seem to be any movement in the market, there will not be any great necessity to add too long positions or short positions. If the markets do start moving in a specific direction, add positions in that direction but be very nimble.

2/14 - Stock Market Comments

Yesterday's positive trading in the markets brought all the indexes back up into the middle of the trading range. Today's premarket weakness does not demonstrate any change of investor sentiment. Anticipate some profit-taking but continue to buy strong charts .

2/13 - Stock Market Comments

Although the Dow traded lower on Friday, closing slightly below the T-line, the NASDAQ and the S&P 500 stayed above the T-line. This required evidence of more selling on Monday morning to indicate there had been a change of a trend. The prognosis remains the same. The markets are in a slow uptrend until a candlestick sell signal and a close below the T-line. Monday's positive trading makes a severe reversal of Monday's early morning buying to become evident with excessive selling during the day. Stay long.

2/8 - Stock Market Comments

After the market shown steady trading yesterday, consistent with the uptrend, with profit-taking in the morning and buying in the afternoon, today is starting out without any aggressiveness in either direction. The uptrend will remain in progress until a severe sell signal appears. Maintaining long-term lessons and take profits when individual stock charts review sell signals.

2/2 - Stock Market Comments

 The positive trading in yesterday's markets brought the indexes back up above the T-line .although the premarket futures are showing just a slightly positive open today ,it illustrates that nothing is changing in the slow uptrend scenario. Continue to hold long positions, continue to cultivate the portfolio by taking profits in stocks that have gotten to the overbought condition and replacing them with stock positions that have better upside potential.


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