Posts Tagged ‘NASDAQ’

(Lee Siler) - Stocks dropped four straight sessions last week to end down around 2% among the major averages. Considering we've rallied for seven consecutive months, this two week pullback may look less ominous than it is. It's ironic that this pullback started just before we start 3rd quarter earnings season.

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(Lee Siler) - Today the Fed starts their two-day meeting. The speculation is that the Fed will likely leave the Fed Funds Rate near 0% for a while longer. Obviously, inflation will be watched and combated when it starts to rear its ugly head.

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(Lee Siler) - The market suffered its first loss in five weeks and the pullback is likely to continue this morning. Many traders had been anticipating some sort of correction, me included, but late second quarter window dressing maybe giving us a false sense of security. Keep in mind, many investors missed the big move since March and now there trying to catch up before the second quarter ends.

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(Lee Siler) - Stocks continued their sell-off, as trading volume rises again. There is now some clear distribution going on in the major averages. Over the past two days we've seen the Dow Jones, Nasdaq and S&P 500 drop well over 3%. Even the leading stocks and sectors are starting to rollover.

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(Lee Siler) - The Nasdaq continues to lead, as chip stocks rally. Better than expected guidance out of Texas Instruments got the high tech index moving and it never looked back. The Naz was up about 1%, while the S&P 500 moved higher by a third of a percent. The Dow Jones Industrial, although traded lower, was basically flat on the day.

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(Lee Siler) - Stocks rallied hard as the Nasdaq moved further above its 200-day moving average on news that Cisco Systems would replace GM in the Dow Jones Industrial Average. This was a broad based rally that moved the S&P 500 also above its respective 200-day moving average, which is a positive technical indicator. Still lagging, is the Dow Jones. However, the addition of Cisco and Travelers could help that index keep up with its peers.

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(Lee Siler) - Stocks took a significant hit yesterday, as news of the likely GM bankruptcy made its way through the investing public. The market started out with a slight rally before getting pelted late in the day. Although the Nasdaq went down less than its S&P 500 and Dow Jones counterparts, the Naz volume swelled to mark another distribution day, the fifth in recent weeks.

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(Lee Siler) - Stocks are pointing to a higher opening, as investors are in relief that Bank of America was able to raise some capital with relative ease. Even though B of A is selling 1.25 billion shares to the market, diluting the stock by about 19%, the stock is trading higher in the pre-market. I believe this enthusiasm will wane as investors realize that these financial institutions are flooding the market with shares of their stock. It's your basic law of supply and demand. But, for now the market is looking past that. However, eventually you always have to pay the piper.

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(Lee Siler) - Stocks had another great week, but as the market moved higher volume has started to thin. This action is usually a sign that the rally is running out of gas. The Nasdaq, which had been leading the way, lagged the other major averages due to lack of bank exposure. Clearly any index with exposure to the financials had a good week. The S&P 500 and Dow Jones rose 5.9% and 4.4%, while the Naz only gained 1.2% respectively.

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(Lee Siler) - Stocks are set to open the second quarter much like it started the first quarter, to the downside. After logging in the worst quarterly performance in 70 years in which the Dow Jones, S&P 500 and the Nasdaq all dropped 13.3%, 11.7% and 3% respectively, the market is set to take back some of the recent gains.

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