prior entry: APR 28
Report: (1:30 ET) I have noticed that the Nasdaq has now matched the
2007 high while the Dow and S&P are still below. This means that
the Nasdaq will start to come under pressure. It may also serve as a
warning that a major top may be forming. If you check the charts of the
major averages, you should also note that the averages have gone well
above the 50 day average line. The averages always seem go gyrate back
to that line and this can be verified by looking at past history.
Meanwhile, the economic problems are not being addressed by President
Obama. If oil prices go much higher, the stock market will not be able
to hold at present levels or higher. Furthermore, the bank stocks have
not rallied which represents another big problem. Something is going
wrong here and caution is advised unless some miracle should occur soon.
prior entry: APR 27
Report: The market averages have bounced off support and have broken
to the upside above prior resistance. For now, things look good.
JDSU turned out to be a good buy at the 18 level and may now have some
resistance at the 22 level. The bank stocks are still not doing well.
Citi will have that reverse split early in May which I do consider to be
prior entry: APR 18
Report: (12:00 ET) The S&P has hit major support. this does not
mean that it will be a standing bottom. However, it does mean that the
market can now bounce off this. If it does, we will then observe the
strength of any bounce. I noticed that JDSU is at a major support and
could bottom at this time at the 18 level. If a bounce is going to
occur, it would have to happen by Tuesday.
prior entry: APR 14
Thursday Report: (2:00 ET) The
market averages have not yet hit support according to the numbers of my
prior commentary. IBM will be a major quarterly report. I suspect
that the market will hold or bounce off the first level of support.
However, I am coming to believe that the market is getting weaker since I
see no strength in the banks. It may be safer to be mostly in cash. A
bounce off the first level of support may well be temporary. We will
have to watch the strength of that bounce. It is very probable that
brokerages are unloading stock on the public and the mutual funds. The
marekt has done a good job of going this far in the face of disaster in
the government. The problem now is that there is no policy in the Obama
Administration. Whatever solutions that are now being proposed are all
totally negative against the economy. While the Fed has not recognized
the reality of inflation, oil and food prices continue to climb. Have
you noticed that beer bottles are going from 12 ounces to 11.5 ounces on
some brands. Okay, that is just one example of how business is
reacting to the problems. There are times like these when observations
begin to reveal the real problems, because the media and politiicians
are trying to cover up. Caution is advised.
prior entry: APR 12
Closing Report: What
can the market do at this point? The first line of support for the Dow
is around 12200 and the major support is now at about 12000. SPX
support is at 1300 to 1320. The Nasdaq support is at 2700. Any close
below those major support lines and we have problems. So far, the
present correction looks normal. Buying can be done at support or at
least not sell at this time. Alcoa is not a factor considering that IBM
is much more important. Ford still continues to be one of my favorites
since Ford sales are heading upward. This means that downside is
limited and near term upside is back to the 19 level.
prior entry: APR 7
Closing Report: The
Dow did break slightly above the recent prior high, but the S&P and
Nasdaq averages are still below the breakout point. The market seems
to be going sideways waiting for the quarterlies next week. Alcoa will
report on Monday and that may set the pace. Will the averages double
top or break out next week? It may be a good idea to merely hold
without new buying. It all depends on the S&P closing above that
recent high. NOTE: For those of you holding COPY or looking to trade, I
did give a buy at 14 cents which is where I picked it up. That comment
was on the new forum.
prior entry: APR 1
Friday Report: Those
of you that are on the new forum for COPY got my buy signal at 14
cents. I stated outright that there was a low coming at either 12 cents
or close to it.
Closing Report: The very next resistance is 12400. The market might linger here until the reports come out for the quarter. Prices keep edging higher but nothing startling. It remains a holding situation or simply a waiting game for now. There should be no rush to jump into this market.
prior entry: MAR 14
Closing Report: At this point, the averages have broken down and the VIX is starting to rise. Although prices are lower, it is too early to buy. The Nasdaq bottom could be around the 2400 level where there is a gap on the chart. Not much is being said or done about the economy as the Obama leadership continues to falter. Let's face it, they simply do not know what to do except to wait .
prior entry: MAR 10
Closing Report: If the Dow closes below 12000, then it would signal a breakdown in support. The VIX has not gone to dangerous levels and so there is some hope. Also, much depends on the oil situation. We shall now see if this can hold into Friday. If it can hold into Monday morning, it could turn into a buy signal.
prior entry: MAR 7
Monday Report: (1:00 ET) Several sessions ago, I stated that Citigroup would be taken down to 4.50 amd it is there right now. I also said that the major averages would go down to at least the 50 day average line and that is occurring. We will soon find out if this market breaks down completely. The averages are showing a below the top double top whjich occurred a few days ago. Any further downside here would be a negative sign of a much further decline. Buying is still not advised. Because of the server transfer to this new site, I have not reported as much since I am still working on the site. Hopefully, this new site will allow us to do a better job.
prior entry: FEB 22
Tuesday Report: (2:30 ET) The market wants to go down to the 50 day average line as I have mentioned before this. NOTE: We have changed servers with a new website facing. As a result, there should be improvements in the features of each page. However, it will take a little time to learn about the employment of the new features.
prior entry: FEB 19
Saturday Report: The market averages continue to edge higher and will continue until we see an increase in new lows. Only at that point can we say that the internal market is getting weaker even as the averages continue higher. So far, there is no major signal that is bearish. Of course, there are certain stocks that are not joining the advance. This can go either of two ways in the near future. We watch to see if the banking stocks begin to advance which would be bullish. Or we watch to see if the internal market begins to deteriorate as a result of the banking stocks getting weaker.
Closing Report: For the past several sessions, it would have been pointless to make any remarks, because the market averages were simply moving up and up and so forth. However, now it should be noted that we are on schedule to make a correction. If you look at any chart of the Dow, S&P and Nasdaq, it becomes evident that all indicators are overbought. However, most important of all, it should be noted from past experience that the averages always seem to come down to at least the 50 day average line. At present, all averages are well above the 50 and 100 day lines. This means that it is not the right time to buy into the major stocks. Expect a correction. NOTE: For those who have CopyTele, I will say this. You should have bought at one cent above the low at 15 cents. Instead, I noticed that many of you were turning even more negative as it went lower. I certainly hope that you did not sell at the lows. The stock remains okay at present levels.
prior entry: JAN 28
Closing Entry: It is amazing how this decline is being timed. Now that options expiration is over and exhange operators have unloaded, there appears one excuse after another concerning disappointing earnings and world havoc. Things were okay several sessions ago according to analysts, but now we have major problems in the world again. As I stated last, the averages should drop to the 50 day average line. Note on COPY: It did hit 15 cents which was a good buy. You either make a stand or get out of this. You either play the game by trading in and out or stay out of this. COPY has a wide range of movement during a 12 to 18 month period. As a percentage, it makes for a good trading stock. I have noticed that many holders and traders go dead at the lows and go crazy buying at the highs. Wake up! Or get out. Volume has been picking up which means that some people are doing the wrong thing here.....selling near the lows.
prior entry: JAN 26
Closing Report: The Dow should decline to the 50 day average line at around 11500. Nothing in the major stream looks any good. If you check the other charts of the major averages, you should be able to note that a drop to the 50 day line is always to be expected. It looks to be quiet since the people in Washington are running out of stunts to pull on us.
prior entry: JAN 21
The general market stayed strong right into the options expiration. Any rally at this point should come under suspicion. It could very well rally to the recent highs, but watch out if it does. The media has been saying that the recent advance is because Obama has gone to center. I believe that the media is wrong. The market has rallied because of the Republican takeover of the House. Once this wears out, the problems of the past two years will once again become prominent. Nothing has changed except that the health care program will either have to be modified or it will go to the Supreme Court. This will cause a lack of direction in the economy which will cost time expense. At present, our nation has no real direction. Meanwhile, the Republican people that are being highlighted as candidates to run against Obama are all losers. They need someone new. NOTE: I have set up a private CopyTele Forum which carries a yearly fee of $5 to cover expenses. CopyTele stockholders can have a free trial sample to test it out until March 1st. The entry site can be found at http://www.copytele.net
or at http://www.wallstreetinquirer.info
. Try to use your user names from the free message board so that we can more easily tell the difference between those that are long and those that are shorts or bashers. Members of this forum will rule with voting power with myself as Administrator.
prior entry: JAN 19
Midday Report: (2:00 ET) IBM earnings were at the top of expectations which is no surprise as the price goes even higher. IBM represents the best business management around along with Apple. However, eventually everything will correct and this is not the place to be buying IBM. The banks are being taken down by purpose at this time. WellsFargo was downgraded by S&P despite good earnings. Support on Citi is about 4.50, but I will keep a watch on it. As I have been saying, this options expiration on Friday is critical. Since the Nasdaq was strong on going up, it will be the weakest on any correction and could drag the whole market down.
prior entry: JAN 19
Closing Report: As you can see, Citigroup got hit this morning on the earnings report. I did say yesterday that the price had hit the top channel line. The stock is still good but I am looking for entry at the 4.50 level. Citi is making some big money, but it is the usual thing of analysts saying that they were looking for more. It is all just the same old scam. The market is still edging higher as we go into options expiration on Friday.
prior entry: JAN 17
Monday Holiday Report: Although the trend has remained up and the quarterlies should be good, it may not be the right time to buy mainstream stocks. A major options expiration will occur on Friday. When the market goes strong into one of these option expiration periods, there is a good probability of a reversal. No buying until after Friday when we can see if there is new direction. The open interest on January options is large because it involves positions taken by investors from a year ago on the leap otpions. The other reason is that by selling in January it avoids paying taxes for 2010, and so it becomes a popular strategy. NOTE: The bank stocks have been doing better. However, Citigroup has hit the top channel line at around 5.15, and this is a resistance level. We should watch to see if it can really break out. Caution is advised. Apple may get into trouble since Steve Jobs has just announced another medical leave of absence. I believe that he may still be in real trouble with his health, and Apple stock is now at record levels and could be a short. Meanwhile, COPY stock keeps sinking, but this could be a manipulation to take it to a record low and get more people to sell. We wait.
prior entry: JAN 11
Closing Report: The market did rather well today as it staggers a little at the S&P 1275 level. There is no sign of any major selling by the fund institutions. The trend remains up. The major quarterlies will be out soon and expectations are running high. Both Apple and IBM are at the highs. The major averages could very well break higher on any good news from corporate reports.
prior entry: JAN 7
Midday Report: (2:30 ET) Some of the headlines this morning were just about as stupid as they were representitive of those who compose the headlines, or perhaps, those who compose the headlines do so for a purpose as dictated by those who are higher up and under the control of elite marketeers. Headlines (Market Lower on Lower Unemployment).....now that is a good one. Then, when you read into the article, it says (from The Street)
"The Labor Department said the U.S. economy added 103,000 jobs in December, falling short of the 150,000 economists had expected, according to Briefing.com. The unemployment rate fell to a better-than-expected rate of 9.4% from 9.8% in November, outpacing estimates of 9.7%. Company payrolls increased by 113,000, falling short of Wall Street's estimates of 162,000." Here is another case of where we have good news and bad news all wrapped into one element, the jobs report. So, now jobs have improved, but hey, it's not good enough. The media and the insiders that control the market will use the element of expectations to run the market as they wish. The decline today is not major. It is meant to keep people negative and perhaps sell as operators buy. Remember that options expiration will be important this month. It may be too soon to play for a correction since the quarterlies will be coming out next week.
prior entry: JAN 6
Midday Report: (2:30 ET) The chart on the S&P continues to look bullish, and the Nasdaq has gone to new highs for this trip in a good pattern. The quarterly reports will most likely support this advance.....at least until options expiration on the 21st. It does seem as if exchange operators are in the process of takning out all the shorts and closing options on a high note. Those insiders that have the January options will not pay taxes for last year, but will instead have this whole year to cope with profits that will come off those January options. This means that these people will be selling into this advance up to the 21st. There is an upper channel trendline on Citibank (C) that seems to connect to the 5.15 level. If you have C, watch to see if it goes to around 5.20 and then be cautious. For now, the Nasdaq is showing the most strength. Investors are now looking more at quarterly profits rather than on the economy. The jobs problem is not being emphasized right now. It almost feels like 10% unemployment is not that bad. Benefits are extended, and even I get the impression that the unemployed are making more money than I am.
prior entry: JAN 4
Closing Report: The market actually looked good today. The banks are improving and Citigroup wants to make a move above 5. The market is moving up because of several things, one of which is the new congress and the theory that Obama may go to center. I predict that Don Trump will run for president according to indications and that he has the best chance to win since he is pro-business and pro-military. I really believe that Romney has no chance. COPY: I will place a link soon on the message board page for COPY stockholders....just hold on until testing is finished.
prior entry: JAN 3
Midday Report: (1:30 ET) The new year is starting off strong which is a good sign as long as it is not a blowoff. The averages have broken to the upside this morning which is bullish. My main stocks which have been buys and holds continue to be MELI, BAC, C, F, CLDX and of course, COPY. I remian the most bullish on BAC (Bank of America). I believe that this stock has the potential of increasing by over 200% over the coming three years. Even if there is a correction, BAC, C and F should hold well. Note for COPY holders. Very soon, I will have a secondary COPY message board which will be restricted to stockholders or those who are interested in trading the stock. Members will have to be approved by me through email verification. This will be done by popular demand.