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inthemoneystock (< 20)

March 2011

Recs

1

Trade Lesson: Patience Is a Position

March 31, 2011 – Comments (0)

The major stock indexes are trading basically unchanged today after some early morning volatility. Investors and traders alike seem to be waiting on the highly anticipated government job report that will be out tomorrow morning at 8:30 am EST. Today the SPDR Dow Jones Industrial Average ETF(NYSE:DIA) is trading in a 0.40 cent range for most of the session. This makes the markets very dull after the first two hours of the day. Short term day traders must be especially careful in this type of trading environment as computer algorithms take over and try to stop out the small amateur scalp trader. Traders must take advantage when the market is active and the volume is at its peak. After that trader's must be very selective and try to trade in active markets. Remember the oil market adage, "don't be a cowboy as cowboys get shot." Therefore, once the pro traders see this type of light volume, range bound action, they will take a step back and wait for the markets to tell them what to do. Be patient in this environment.  



Nicholas Santiago
InTheMoneyStocks.com
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Recs

0

Trade Lesson: Patience Is a Position

March 31, 2011 – Comments (0)

The major stock indexes are trading basically unchanged today after some early morning volatility. Investors and traders alike seem to be waiting on the highly anticipated government job report that will be out tomorrow morning at 8:30 am EST. Today the SPDR Dow Jones Industrial Average ETF(NYSE:DIA) is trading in a 0.40 cent range for most of the session. This makes the markets very dull after the first two hours of the day. Short term day traders must be especially careful in this type of trading environment as computer algorithms take over and try to stop out the small amateur scalp trader. Traders must take advantage when the market is active and the volume is at its peak. After that trader's must be very selective and try to trade in active markets. Remember the oil market adage, "don't be a cowboy as cowboys get shot." Therefore, once the pro traders see this type of light volume, range bound action, they will take a step back and wait for the markets to tell them what to do. Be patient in this environment.  



Nicholas Santiago
InTheMoneyStocks.com
  [more]

Recs

0

Ford Daily Bull Flag Signals Possible Profits

March 31, 2011 – Comments (0)

Ford Motor Company (NYSE:F) continues to consolidate off the lows hit weeks ago. After hammering into the 200 moving average on the daily chart multiple times, Ford jumped higher on March 24th, 2011. That move took the stock well off the 200 moving average and started a bullish consolidation pattern known as a bull flag. This pattern has a solid probability of profit on the long side if played correctly.

Gareth Soloway
InTheMoneyStocks.com

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0

Oil Stocks Show Signs Of Top

March 31, 2011 – Comments (0)

Many oil stocks are reversing early gains today, signaling a possible top. Some of the biggest names have had some of the most impressive gains in the last nine months. Chevron Corporation (NYSE:CVX) has gone from under $67.00 per share in July 2010 to a high today of $109.65. That is a massive gain of 63%. Exxon Mobil Corporation (NYSE:XOM) has also jumped from a low of $56.00 in July 2010 to a recent high of $88.23. The gain here is a whopping 57%. Lastly, it is important to take note of ConocoPhillips (NYSE:COP). ConocoPhillips surged in early morning trading on the back of a big move higher in crude oil. However, the stock has reversed and given up all its gains. The daily chart now shows signs of exhaustion with a topping tail formation. Chevron and Exxon have also pulled nicely off their highs. This may be the start of a decline from massive gains in the oil sector. Keep a close watch.

Gareth Soloway
InTheMoneyStocks.com

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0

SanDisk Corp. Scalping Level On Watch

March 31, 2011 – Comments (0)

SanDisk Corporation (NASDAQ:SNDK) ran sharply higher early in the morning, spiking to a high at $46.43. After hitting that level, the stock has slowly declined, falling almost back to gap fill. At gap fill there is also the major support of the 50 moving average. This price level is $45.40. This price represents a solid level for a scalp to the long side.

Gareth Soloway
InTheMoneyStocks.com

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0

SanDisk Corp. Scalping Level On Watch

March 31, 2011 – Comments (0)

SanDisk Corporation (NASDAQ:SNDK) ran sharply higher early in the morning, spiking to a high at $46.43. After hitting that level, the stock has slowly declined, falling almost back to gap fill. At gap fill there is also the major support of the 50 moving average. This price level is $45.40. This price represents a solid level for a scalp to the long side.

Gareth Soloway
InTheMoneyStocks.com

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Recs

0

Markets Consolidate Ahead Of Jobs Number

March 31, 2011 – Comments (1)

The SPDR S&P 500 ETF (NYSE:SPY) is trading slightly lower today at $132.67, -0.10 (-0.08%).  After two consecutive days of higher markets, it appears all eyes are now turned to the Non Farm Payrolls Number and Unemployment Report. Expectations are extremely high, with the market pricing in a gain in jobs in the range of 250,000. While the markets need a number of 250,000 to move higher tomorrow, it is unlikely a number lower would cause significant selling. If gains in jobs were significantly limited, talk of QE-3 would be possible. Quantitative easing is a drug into the vein of the markets. Any chance of further printing of money by the Federal Reserve would help stem any major losses in the markets.

Silver, gold and oil are all higher today. A run for commodities continues as they all move higher. The iShares Silver Trust (NYSE:SLV) is trading at $36.72, +0.19 (+0.53%), the SPDR Gold Trust (NYSE:GLD) is at $140.08, +1.41 (+1.02%) and the United States Oil Fund LP (NYSE:USO)  is trading at $42.33, +0.67 (+1.61%).

Gareth Soloway
InTheMoneyStocks.com

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0

Chevron Fades From Open. Watch This Level

March 31, 2011 – Comments (0)

Chevron Corp.(NYSE:CVX) started the morning around the $109.60 area at the open of the day. The stock has faded a bit from the opening high print and is trading around the $108.80 area now. Short term scalp traders must watch the $108.00 level as important intra-day support. Should the stock decline down to that area this would be a likely bounce level.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Gold and Silver Shining Early

March 31, 2011 – Comments (0)

This morning the precious metals are rallying higher. Recently, gold and silver have been trading in tandem with oil. This morning WTI oil has surged higher by $2.18 to 106.45 a barrel as the Middle East and North Africa remain in turmoil. Anyone that has followed the problems in that region over the years know that problems do not disappear quickly in this region.

The SPDR Gold Shares(NYSE:GLD) are trading higher by $1.41 to $140.07 a share. The all time high for the GLD was $141.28 made on March 24, 2011. This morning the problems in Ireland, Portugal, and most other Euro-zone nations have emerged and this is definitely giving the precious metals a boost. Often the European Central Bank will purchase bonds in order to keep bond yields lower when they spike on debt fears. Anytime money is created by these central banks it will benefit gold and silver. The Federal Reserve buys bonds in the United States everyday via its permanent open market operation and we see the U.S. Dollar Index decline almost on a daily basis. Traders must watch the $141.28 level for intra-day resistance on the GLD this morning should it trade up there.

The iShares Silver Trust(NYSE:SLV) is trading higher by 0.36 cents to $36.89 a share. The SLV made a new high on March 24, 2011 at $37.26 a share. Therefore, this level will have minor intra-day resistance for the SLV. Should the SLV make a new high today the $38.00 level will be the next intra-day resistance level.

As long as central banks around the world continue to create more money and devalue the currency gold and silver could continue to climb higher. Traders and investors will continue to buy gold and silver until the Federal Reserve begins to strengthen the U.S. Dollar. This morning the U.S. Dollar has once again declined and is trading lower by 0.22 cents to $75.90.



Nicholas Santiago
InTheMoneyStocks.com
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0

Pre-market News and Views

March 31, 2011 – Comments (0)

The S&P 500 e-mini(ES M1) futures began to decline around 5:00 am EST and are trading lower by 2.50 to 1321.50 per contract. At 8:30 am EST the initial jobless claims report was released and declined by 6,000 to 388,000 claims. This number was expected by most economists. Tomorrow is the highly anticipated government job report for the month of March. Most economists are expecting 195,000 new jobs to be announced. Despite this report not having much effect on the market over the past few months it will often cause investors and traders to remain on pause mode until the report is released tomorrow morning. Therefore, do not be surprised if the market trades sideways after the first couple of hours today.

The Asian markets were mixed last night, however, the highly followed Shanghai Index(China) closed lower by nearly 1.00 percent. This decline in the Shanghai Index could effect the leading commodity stocks in the early part of the trading session this morning. Leading commodity stocks such as Freeport McMoRan Copper & Gold Inc.(NYSE:FCX), and Cliffs Natural Resources Inc.(NYSE:CLF) are a couple of stocks that will usually react off of the Shanghai Index.

The problems in Libya have not changed as violence continues to escalate. Other nations in the Middle East and North Africa remain in turmoil. This has caused oil to spike higher today by $1.61 to $105.91 a barrel. Lately, gold and silver have traded in tandem with oil and that is the case this morning as both precious metals are trading higher ahead of the opening bell.

Later this morning there will be two economic reports that are scheduled to be released. At 9:45 am EST the Chicago PMI will be released. The analyst consensus is for 69.5, the prior report was 71.2. At 10:am EST the Factory Orders report will be released. Analyst consensus is for 0.04 percent compared with the prior report that was 3.1 percent. These reports have had very little effect on the major stock market indexes recently.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

2

Another Rally With Pockets Of Weakness

March 30, 2011 – Comments (0)

The major stock indexes have staged another rally. Everything that one could throw at this market has been swallowed as the major stock indexes seem to defy gravity. The highly followed Dow Jones Industrial Average has rallied higher by 820.0 points in just eleven trading sessions. The move higher from the March 16, 2011 cycle pivot has been nothing less than remarkable. Geopolitical events in Japan, the Middle East, and Europe, have had hardly any negative effects from the March low. However, today the market is signaling some signs of weakness.

The first sign of weakness that we are seeing is in copper today. The iPath Dow Jones-UBS Copper Subindex Total Return ETN(NYSE:JJC) is trading lower by $1.11 to $56.68 a share. Copper is viewed by many investors and traders as an economic barometer. When this industrial metal does not participate in a stock market rally traders will pay attention to this action. Weaker copper has often lead many big declines in the past. This time around the JJC still has a lot of daily chart support around the $55.00 area.

The next sign of weakness for the market is the action in the railroad stocks. This morning CSX Corp.(NYSE:CSX) made a new 52 week high for the year at the open. Since the high print of $80.42 at the open the stock has reversed sharply lower creating a possible outside day on the charts. When market leaders reverse it is a time to take note. CSX stock is trading lower by $1.66 to $78.37 a share. The big daily chart support level for CSX is around the $73.00 level. Norfolk Southern Corp.(NYSE:NSC) is also trading lower after making a new 52 week high at the open trading lower by 0.28 cents to $69.27 a share. When the railroad stocks decline it is often a sign that the transport index make need to pullback.

Apple Inc.(NASDAQ:AAPL) is also failing to trade higher with the market today. This stock is the market darling and is owned by most institutions and retail investors. When this market leading stock fails to participate in the rally it definitely raises some red flags and must be watched closely.

Traders and investors are certainly enjoying the stock market rally over the past ten trading sessions. However, when markets get euphoric traders must watch for clues that a pullback could be around the corner. Today, the market is signaling weakness in copper, railroad stocks, and Apple Inc. It may just be a non-event and these leaders could just be taking the day off, however, it is worth noting.



Nicholas Santiago
InTheMoneyStocks.com
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Recs

0

Something Wrong In Apple City

March 30, 2011 – Comments (0)

Apple Inc. (NASDAQ:AAPL) is weak for the second day in a row. Not only is the lack of strength significant, but add to it a market rally both days and the weakness in Apple is even more glaring. With the markets spiking higher, Apple is trading at $348.89, -2.07 (-0.59%). This is significant for many reasons but mostly because Apple Inc. has been a leader in the market. With the markets now surging back towards the 52 week highs, Apple can barely catch a bid. I wrote about this a week ago and it continues to be dead on. Steve Jobs has left, competitors are closing in and Apple has gotten too big to sustain its amazing growth.

Gareth Soloway
InTheMoneyStocks.com

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Recs

0

ADP Private Jobs Report Keeps Markets Higher

March 30, 2011 – Comments (0)

The markets continued their march higher today, closing in on the 52 week highs.  The SPDR S&P 500 ETF (NYSE:SPY) are hammering on the highs of the day at $132.76, +0.90 (+0.68%). This is just slightly off the 52 week highs on the SPY at $134.69. The markets are higher today on the back of continued optimism after ADP Private Sector Employment was reported. The private sector gained 201,000 jobs which is very bullish for Friday's jobs report. On Friday, at 8:30am ET, the Non Farm Payroll Report will be released. Wall Street is now hoping for a number above 200,000.

Gold and silver started the day with solid gains but quickly fell back to the flat line as money flow started to head for riskier assets. The SPDR Gold Trust (NYSE:GLD) is trading at $138.27, +0.06 (+0.04%) while iShares Silver Trust (NYSE:SLV) trades at $36.35, +0.18 (+0.50%). These are both well off their early morning highs.

Gareth Soloway
InTheMoneyStocks.com

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Recs

1

Texas Instruments Under Pressure. Watch This Area

March 30, 2011 – Comments (0)

Texas Instruments inc.(NYSE:TXN) is declining lower this morning by 30 cents to 34.67 a share. Short term intra-day scalp traders can watch for support around the $34.54 area. This is a likely small intra-day bounce area for the stock.



Nicholas Santiago
InTheMoneyStocks.com

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Recs

0

SINA Finally Retreats. Watch This Level

March 30, 2011 – Comments (0)

Sina Corp.(NASDAQ:SINA) has rallied sharply higher since early March. Today the stock is trading lower by $1.35 a share to $106.30 a share. Traders can look for a small intra-day bounce around the $105.90 level. Please remember that this stock is overbought on the daily chart and the bounce higher may not last very long due to the overbought condition.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Transports Test Major Level

March 30, 2011 – Comments (0)

The iShares Dow Jones Transport ETF(NYSE:IYT) has rallied sharply higher from its March 15, 2011 pivot low at $88.90 a share. This morning the IYT is trading higher by 0.59 cents to $95.72 a share. The IYT has rallied higher by nearly $7.00 in just 12 trading sessions. At this time the IYT is trading around its recent double top area from February 18, 2010 which was $96.30. Therefore, this area should be of some resistance in the near term. The IYT is also getting a bit extended on the daily chart at this time. Recently, the transports have climbed higher with the major stock indexes and this is a sign of economic strength in the near term. However, until the IYT clears the double top area at $96.30 traders must not assume that the transports will break out just yet.

Other leading transport stocks that are trading higher this morning are FedEx Corp.(NYSE:FDX) and United Parcel Service Inc.(NYSE:UPS). Should the IYT begin to pullback it would be prudent to expect these transport leaders to pullback as well.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

1

Pre-market News And Views

March 30, 2011 – Comments (0)

What can we say? The S&P 500 Index futures (ES M1) are trading higher again this morning by 6.00 points to 1322.50 per contract. The S&P 500 futures have now rallied higher by 81.0 points in just 10 trading sessions. The rally higher has been on much lighter volume and this is certainly a concern for many traders and investors. However, price action is all that matters and it seems to climb regardless of the geopolitical events around the world.

Last night the Asian markets were higher. The Nikkei 225 Index (Japan) rallied higher by 2.65 percent and lead the advance in Asia. The Hang Seng (Hong Kong) ended higher by 1.70 percent which was good for second best in the continent. The Sensex (India) climbed higher by 0.89 percent and continued its multi-day winning streak. The popular and highly followed Shanghai Index (China) was the only major Asian stock index to close lower by just 0.08 percent. The Asian rally last night is certainly helping the futures trade higher before the opening bell this morning.

At 8:15 am EST the ADP jobs report for March was released. The report said that the private sector added 201,000 new jobs in March. This number was exactly what analysts had expected. Last months ADP number was revised lower by 9k to 208,000 jobs. It still amazes me that with all the sophisticated computers that we have today that these number still have big revisions.

Oil is trading basically flat this morning as the fighting in Libya remains escalated. Reports from the Middle East have said that Gaddafi forces have recaptured an oil rich region. Who can really keep up with this news or even know if it is worthy? Therefore, Just follow the chart on oil which is holding up very well at this time. Silver and gold are also trading higher with the major stock indexes. The U.S. Dollar Index is trading unchanged at the moment. Should the U.S. Dollar Index fade when the market opens this will usually help to inflate stocks and commodities.

Leading bio-tech firm Cephalon Inc.(NASDAQ:CEPH) is being bought by Valeant Pharma International Inc.(NYSE:VRX) for $5.7 billion. Other biotechnology stocks could catch a bid higher this morning on the news.


Nicholas Santiago
InTheMoneyStocks.com
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Recs

0

Broadcom Retreats Intra-day. Watch This Spot

March 29, 2011 – Comments (0)

Broadcom Corp.(NASDAQ:BRCM) has staged a strong move higher from a sharp gap lower open. The leading chip stock has now pulled back intra-day despite the major stock indexes rallying near the highs of the session. Short term scalp traders can watch the $40.40 area for intra-day support. This is a likely intra-day bounce area for aggressive scalp traders.


Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Silver Wheaton Fades From High. Watch This Level

March 29, 2011 – Comments (0)

Silver Wheaton Corp.(NYSE:SLW) started the day rallying from a morning gap lower open. The leading silver streaming stock has faded from its high made at 11:30 am EST. Short term traders can look for intra-day support around the $42.65 area. This is a level where the stock can have a small bounce.

 

Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

1

Rare Earth Stocks Hottest

March 29, 2011 – Comments (1)

Over the last week, rare earth stocks have caught fire again. Molycorp, Inc. (NYSE:MCP) is soaring today, trading at $58.85, +3.34 (+6.02%). It has gone almost straight up over the last eight trading days. On March 18th, 2011, MCP was trading at $42.10. Truly an amazing move in a short amount of time.  Other small China rare earth plays are also soaring. China GengSheng Minerals, Inc. (AMEX:CHGS) is up 12% today and has gone from $1.97 on March 22nd, 2011 to a high today of $3.68.

These stocks are getting a major momentum squeeze on the back of fear. As the world prints more money, demand from emerging markets jumps, hoarding seems to be on the mind of Wall Street. This mentality is leading towards a dramatic increase in stock price for companies that deal in rare earth. Just like gold and silver, the more money printed, the more diluted the currencies become while rare earths and gold and silver are the only place to store true wealth.

Gareth Soloway
InTheMoneyStocks.com

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Recs

0

Why: Oil Trades With Markets Unlike Weeks Ago

March 29, 2011 – Comments (0)

It was just three weeks ago when oil spiked higher, causing the market to sell sharply. As oil traded over $100 per barrel, the markets got jittery over fears it would crush a slowly recovering economy. Today, the markets are loving oil as they trade together, tick for tick. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $131.51, +0.53 (+0.40%). This is the high of the day. The United States Oil Fund LP (NYSE:USO) is trading at $41.83, +0.41 (+0.99%). This is also the high of the day.  So what happened? Why is higher oil all of a sudden good for the markets?

The reasons are simple and easy to understand. The spike in oil from $90.00 to $107.00 was quick and painful. The markets are never good with sudden change. The markets like calm, slow and steady. Surprises and shocks keep investors on the sidelines or cause them to panic and sell. This was the initial run up in oil. In addition, this move higher was coupled with a dramatic, sudden destabilizing force in the Middle East. This again strikes at fear. Oil shooting higher caused traders to fear the oil shock would cause the economy to slow and a possible double dip could occur.

Emotion rules the markets in the short term. On one side there is greed, on the other fear. Oil stalled out after reaching $107 per barrel and fell back to $100.00. This allowed cooler heads to prevail. Fear over the Middle East began to subside and oil has now stabilized between $100.00 and $105.00. The panic and fear is now gone and Wall Street thinks oil at this level will not cause any major disruption in growth.

In addition, not only is the fear gone but profits may actually benefit from higher oil at some companies. Assuming oil demand does not falter much, companies like Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX) make more money from higher energy prices. While this may not seem like a big deal, these two stocks, along with many others are key components of the Dow Jones Industrial Average and S&P 500. If they have a major weighting in those indexes and their profits are soaring, those indexes will also get a solid boost.

While the market enjoys the calm in the eye of the storm, Wall Street and all traders must remain cautious. Ultimately, higher oil is coming whether because of a weak Dollar or global demand on shrinking supplies. Yes, the markets seem OK with oil between $100.00 and $105.00 per barrel but it is unlikely to remain there long. Any sharp spike higher may send another shock through the markets causing a quick decline.

Gareth Soloway
InTheMoneyStocks.com

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Recs

0

U.S. Dollar Index Fades And Helps To Inflate Markets

March 29, 2011 – Comments (0)

The U.S. Dollar Index started the morning very strong as problems in the European Union seems to grow on a daily basis. Portugal is the country in focus today as it was downgraded by S&P. When the U.S. Dollar Index declines it will usually help to inflate most commodities and asset prices. This morning when the U.S. Dollar Index was trading at its intra-day peak the major stock indexes were negative, however, once the U.S. Dollar Index declined the major stock indexes have reversed and are now traing in positive territory. This inverse relationship between the U.S. Dollar Index and the stock market always seems to come back in play. The U.S. Dollar Index has declined by 15.0 percent since June 7, 2010.



Nicholas Santiago
InTheMoneyStocks  [more]

Recs

0

Freeport McMoRan Under Early Pressure

March 29, 2011 – Comments (0)

Freeport McMoRan Copper & Gold Inc.(NYSE:FCX) is one of the leading copper producers. This morning the stock is declining by 0.57 cents to $54.50 a share. Last night the highly followed Shanghai Index was lower by 0.87 percent. When the Shanghai Index declines it will often be reflected in the leading commodity stocks when the New York Stock Exchange opens for trading. Short term scalp traders should watch for intra-day support on FCX around the $52.85 area.

Other leading commodity stocks that are declining lower this morning are Cliffs Natural Resources Inc.(NYSE:CLF), and Southern Copper Corp.(NYSE:SCCO). When the leading commodity stock is moving other stocks in the sector will usually follow.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Education Stocks In Play

March 29, 2011 – Comments (0)

Apollo Group Inc.(NASDAQ:APOL) is a leading online education and training company. The company reported another second quarter loss in its legal and financial training units. The stock is declining sharply lower by $4.25 cents to $38.10 a share. Apollo Group stock does have some intra-day support around this $38.00 level. Should this support area fail to hold up the next intra-day support area will be around the $36.00 level. Short term traders can watch for an intra-day bounce around this support area.

Often when a leading stock rallies or declines sharply other stocks in the sector will trade with the stock in sympathy. Therefore, traders should watch stocks such as Corinthian Colleges Inc.(NASDAQ:COCO), and Career Education Corp.(Nasdaq:CECO ), and DeVry Inc.(NYSE: DV ) which are stocks in the same sector that could be in play this morning.



Nicholas Santiago
InTheMoneyStocks.com
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Recs

0

Pre-market News And Views

March 29, 2011 – Comments (0)

The S&P 500 Index futures(ES M1) are trading higher by 2.00 points to 1304.25 per contract. Nearly every morning we see the futures trading higher before the opening bell at the New York Stock Exchange. At this time oil is trading lower by 0.83 cents to $103.16 a barrel and this could be helping the futures market this morning.

Last night the Asian markets were mixed. The Nikkei Index(Japan) was slightly lower trading down by 0.21 percent. The Hang Seng Index(Hong Kong) was flat closing lower by just 0.03 percent. The highly followed Shanghai Index(China) traded lower by 0.87 percent and this could effect the commodities market this morning. Often when the Shanghai Index rallies commodities will usually react positive on the news. The opposite effect is often true when the Shanghai Index closes down or lower.

Gold and silver are holding steady this morning trading basically flat. Recently gold and silver have traded in tandem with WTI oil. We shall see how long this relationship lasts as it has been closely tied to oil ever since the Middle East crisis.

At 9:00 am EST the Case-Schiller Home Price Index will be released for January. This report has had little effect on the stock market over the past few months. Right now the stock market has continued to climb the wall of worry on extremely light trading volume. As long as the trading volume remains light the markets could trade higher as there is simply a lack of selling pressure. At this time the Federal Reserve is still purchasing between $4 – 8 billion in U.S. Treasuries everyday which creates inflation and props the markets up once the agencies purchase stock with the money from the sale of the bonds. Traders must also watch for the consumer confidence report at 10:00 am EST. This report has been shrugged off recently and could be another non-event.


Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

SanDisk Support Area

March 28, 2011 – Comments (0)

Sandisk Corp.(NASDAQ:SNDK) is a leading flash memory chip manufacturer. Today the leading tech stock is trading higher by 0.40 cents to $45.41 a share. The stock started the trading day above the $46.00 level and has since faded lower throughout the session. Short term scalp traders can watch the $45.00 area for intra-day support and a possible bounce in the stock.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

1

This Could Be The Lightest Volume Day Of The Year

March 28, 2011 – Comments (0)

Where is the trading volume today? Yes, Monday's are usually a lighter volume trading session, however, the volume today is simply ridiculous. Does anyone realize that there is a crisis in Japan, the Middle East , and in Europe. This market is being driven by computer algorithms today. The human hand has not been seen at all today. When the major stock indexes looked as if they had a chance of breaking down this afternoon the price of oil just dropped and helped the major stock indexes rebound a little. The trading volume on The SPDR Trust(NYSE:SPY) as of 2:55 pm EST is just 65 million shares. The three month average volume is 168 million shares a day. That means that today's volume is nearly 100 million shares below the three month average.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

1

Gap Fill Rots Apple Intra Day

March 28, 2011 – Comments (0)

Apple Inc. (NASDAQ:AAPL) has been a powerhouse over the last week. The stock hit a beautiful double bottom support level at $326.50 on March 16th, 2011. Since that low, Apple shot higher, ripping up into a master gap fill shown below in the chart. Since this hit, Apple has lost all of its momentum.  While still positive, it is off the highs and may be reaching a short term top. Apple is trading at $352.72, +1.18 (+0.34%).

Gareth Soloway
InTheMoneyStocks.com

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Recs

0

Gap Fill Rots Apple Intra Day

March 28, 2011 – Comments (0)

Apple Inc. (NASDAQ:AAPL) has been a powerhouse over the last week. The stock hit a beautiful double bottom support level at $326.50 on March 16th, 2011. Since that low, Apple shot higher, ripping up into a master gap fill shown below in the chart. Since this hit, Apple has lost all of its momentum.  While still positive, it is off the highs and may be reaching a short term top. Apple is trading at $352.72, +1.18 (+0.34%).

Gareth Soloway
InTheMoneyStocks.com

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Recs

0

U.S. Dollar Index Reverts Back To Its Losing Ways

March 28, 2011 – Comments (0)

This morning the U.S. Dollar Index(DXY) is declining lower by 0.34 cents to $76.05. Last week, the U.S. Dollar Index staged a small bounce on the daily chart, however, today the U.S. Dollar Index failed to trade above its daily chart 20 moving average. Please note that the DXY remains below all of the major moving averages and this puts the U.S. Dollar Index in a down trend. The U.S. Dollar Index has declined lower by 15.0 percent since June 7, 2010.

When the U.S. Dollar Index declines it will usually help to inflate asset prices. Many people that are retired and live a fixed income really feel the effects of a declining dollar the most. Costs of all the goods that individuals need to survive will increase higher. Food and energy are two products that will increase the most when the U.S. Dollar Index declines. The recent food riots around the world have been blamed on the declining U.S. Dollar Index. Should the U.S. Dollar Index trade below its recent low of $75.24 the next important daily chart support would be around the $74.22 level which is the low made on November 24, 2009. The all time low for the U.S. Dollar Index was $70.69 made on March 17, 2008.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Wal-Mart Limping Intra-day

March 28, 2011 – Comments (0)

Wal-Mart Stores Inc.(NYSE:WMT) is the dominant retail stock in the market. This morning the retail giant is trading lower by 0.10 cents to $52.24 a share. Short term scalp trader can watch the $52.00 area for intra-day support. This is a likely intra-day bounce area for the stock.


Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Oil Services Stocks Rally Early

March 28, 2011 – Comments (0)

This morning all of the major oil services stocks are trading higher during the first fifteen minutes of the day. The highly popular and traded Oil Services Holders Trust(NYSE:OIH) is trading higher by $1.65 to $161.00 a share. The pattern on the daily chart remains very good as the OIH has consolidated for the past four trading sessions. Intra-day traders must watch the $161.60 and $162.00 levels for resistance. These areas could be short term intra-day pullback levels for the OIH.

Halliburton Co.(NYSE:HAL) is a leading oil services company that is trading higher by 0.87 cents to $46.91 a share. This stock will have intra-day resistance around the $47.00 area. Should the stock rally further traders must watch the $47.50 as the next intra-day resistance level.

Schlumberger Ltd.(NYSE:SLB) is rallying higher this morning by $2.00 to $88.90 a share. This leading oil services stock should meet important intra-day resistance around the $89.75 level. Should the stock trade higher the $90.25 area would be the next intra-day resistance level for the stock.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Pre-market News And Views

March 28, 2011 – Comments (0)

This morning the S&P 500 e-mini futures(ES M1) are trading higher by 1.50 to 1311.50 per contract. This slight move higher in futures comes as WTI oil is trading lower this morning $1.33 to $104.12 a barrel. Over the past few weeks, whenever WTI oil has declined the major stock market indexes have climbed sharply higher. This morning it appears the S&P 500 futures look to be struggling to remain positive ahead of the opening bell at the New York Stock Exchange.

Nothing has really changed in the Middle East as violence and protests remain high. Qatar has agreed to purchase oil from Libya that is now controlled by the rebels. This is the likely reason for the decline oil before the opening bell. Traders and investors must continue to follow the Middle East and North Africa very closely for any new uprisings or disruptions as oil will usually move higher on this type of news.

Personal spending and income increased this morning. Spending was higher by 0.07 percent, meanwhile, income was higher by 0.03 percent. This number is not having a major effect on the stock futures and that is what traders concern themselves with.

The Asian markets were mixed last night. The Nikkei Index(Japan) traded lower by 0.60 percent as the Nuclear reactor crisis remains front and center. The problems in Japan still remains and must continued to be watched closely as radiation levels remain high. The Shanghai Index(China) was higher by 0.21 percent and this should not have much effect on our markets in the United States this morning.

The Pending Homes Sales Index will be released at 10:00 am EST. Most of the recent economic data released has not had much of an effect on the market lately and I'm not sure how much this report will have. The major stock market indexes have continued to rally despite all of the negative news and that must be respected. These major market indexes are getting a bit overbought short term at this time.

Gold and Silver are declining lower this morning. It seems as if gold and silver are trading almost in lockstep with oil. Therefore, traders must keep one eye on oil at all times.

Please do not forget about the European debt crisis. Ireland, Portugal, and Spain, are still in focus despite having little effect on the markets recently.


Nicholas Santiago
InTheMoneyStocks.com
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Recs

1

Oil Refiners Show Strength

March 25, 2011 – Comments (0)

All of the leading oil refiner stocks have been strong since mid-January and continue to remain strong on the charts. The refining sector has outperformed other sectors in the energy space.

Valero Corp.(NYSE:VLO) is a leading independent oil refiner. In mid-January Valero stock was trading around the $24.00 level before breaking out and reaching the $30.00 level in mid-February. Valero stock pulled back with the major stock indexes in late February and early March finding support around the $26.00 level which was another higher low. When stocks make this type of pattern it is a sign of strength. Today, Valero stock is trading higher by 0.74 cents to $29.90 a share. The $30.50 level will be minor near term daily chart resistance. Should Valero close significantly above that level on volume the stock could have an upside bias into the $32.50 resistance area.

Tesoro Corp.(NYSE:TSO) is a leading oil refiner that can refine both light and heavy crude. This stock is trading higher today by 0.69 cents to $26.68 a share. The stock is attempting to making a new 52 week high this morning and remains strong on the charts. Should Tesoro stock close at a new high the next important resistance level for this stock is around the $30.00 area.

Frontier Oil Corp.(NYSE:FTO) is another leading oil refining company. This stock is trading higher this morning by $1.43 to $28.42 a share. The recent 52 week high was made on February 17, 2011 at $29.27 a share. Therefore, the $29.50 level will still be near term minor daily chart resistance. The current pattern on the charts remains strong at this time as the stock trades above the daily 20, and 50 moving averages. The next important resistance for the stock should it make a new high will be around the $32.00 area.

Nicholas Santiago
InTheMoneyStocks.com
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Recs

0

QCOM Under Pressure

March 25, 2011 – Comments (0)

Qualcomm Inc.(NASDAQ:QCOM) is falling under some early selling pressure this morning. The stock is trading lower by 0.41 cents to $53.31 a share. Short term day traders can watch the $53.00 area for support and likely intra-day bounce in the stock.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Transocean Sinks Early

March 25, 2011 – Comments (0)

Transocean Ltd.(NYSE:RIG) is a leading oil services company that is under early selling pressure this morning. The stock is trading lower by $1.25 to $79.00 a share. Traders can watch the $78.40 area for intra-day support. This is also a likely intra-day bounce area for the stock.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Pre-market News And Views

March 25, 2011 – Comments (0)

The S&P 500 Index futures(ES-M1) are trading higher by 3.00 points to 1308.25 per contract. The move higher in the futures comes as gross domestic product(GDP) in the United States for the fourth quarter was reported at 3.1 percent beating analyst expectations of an earlier estimate of 2.8 percent. In any case, this is a Friday and rarely do the markets sell off on Friday's before the weekend. In the past two years there have been less than a dozen 100 point sell offs in the Dow Jones Industrial Average on Friday's before the weekend. Remember, if the Federal Reserve is going to have its QE-2 program work for a while the U.S. consumer must start to spend more money. Consumer spending accounts for 70.0 percent of the GDP in the United States.

The European Union is still a mess, however, problems continue to get swept under the rug despite Ireland, Greece, and Portugal still having huge debt problems. Yesterday, the rating agency Moody's downgraded thirty Spanish banks and the Euro currency rallied higher. This is a perfect reason why traders must trade what they see and not what they think.

Last night the Asian market rallied higher across the board. The Nikkei Index(Japan) traded higher by 1.06 percent despite increased nuclear radiation being released from damaged nuclear reactors. At this time the markets are euphoric regardless of how bad the news is. The highly followed Shanghai Index(China) traded higher by 1.06 percent and this could help the leading commodity stocks at the start of the trading day in the United States.

WTI oil is trading slightly lower this morning by 0.25 to $105.35 a barrel. The Middle East and North Africa remain in turmoil. Libya, Egypt, Bahrain, and now Syria are all nations in focus and must be followed closely. If there are any problems in Saudi Arabia then oil could see a sharp spike higher. Gold and silver are basically flat this morning after selling off sharply yesterday afternoon.

Oracle Corp.(NASDAQ:ORCL) is rallying higher before the opening bell after reporting earnings. Research In Motion Ltd.(NASDAQ:RIMM) is in downward motion after reporting earnings. Therefore, technology stocks could see some action in the first couple hours of the session. Usually, the action on Friday's will get very quiet after the first couple of hours of trading.



Nicholas Santiago
InTheMoneyStocks.com


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Recs

3

The VIX Drops Again Signaling A No Fear Market

March 24, 2011 – Comments (2)

The Market Volatility Index(VIX) has declined by 13.00 points since making its recent high on March 16, 2011 at $31.28. When the VIX declines it is a sign that the market volatility has declined. Many investors and traders will use the VIX as a fear gauge for the stock markets. Often traders will add risk when the VIX declines as there is very little fear. Smart and savvy traders may want to buy VIX contracts as protection when the VIX declines so sharp and so suddenly. When the VIX declines the major stock indexes will usually trade higher. The opposite is true when the VIX jumps or trades higher the major stock indexes will decline. The all time high for the VIX was in October 2008 when the VIX traded at $89.53. 



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Best Buy Was The Worst Buy At The Open

March 24, 2011 – Comments (0)

Best Buy Inc.(NYSE:BBY) is a leading retail stock that was trading higher at the open after reporting earnings. Many in the financial media this morning were touting the stock as a buy before the opening bell at the New York Stock Exchange. This stock has sold off sharply lower throughout the session and looks to not have a real support level for trade until the $28.00 level. This is the reason why investors and traders must follow the charts and not the talking heads in the financial media.



Nicholas Santiago
InTheMoneyStocks.com


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Recs

0

Amazon Is King Of The Retail Jungle

March 24, 2011 – Comments (0)

Amazon.com Inc.(NASDAQ:AMZN) is surging higher with a strong retail sector today. The stock is trading higher by more than $5.00 to $170.75 a share. This stock could be setting up for a late day breakout if the major stock indexes can hold up. Traders should keep this stock on the radar for a breakout later this afternoon.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

1

Alert: Dollar Falls Again

March 24, 2011 – Comments (0)

The Dollar had a rare up day yesterday on the back of a feared government collapse in Portugal. Anytime Europe has a major issue pop up, investors sell the Euro and pile into the Dollar. Today, the Dollar is getting smacked back down. In the last six months, the Dollar has seen less and less buying. Instead of buying the Dollar, investors are running into gold and silver. This is a major change in character for the once mighty U.S Dollar. If the issues in the global picture had been around a year ago, the Dollar would be most likely at new 52 week highs. Between the Middle East, Japan and Europe, the global picture is an absolute mess. However, the Dollar is sitting at its 52 week lows. This tells Wall Street that in the short term, the Dollar could easily go lower.

Relevant Tickers: NYSE:UUP, NYSE:SLV, NYSE:GLD

Gareth Soloway
InTheMoneyStocks.com

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Recs

2

Stocks To Watch If Nevada Legalizes Online Gaming

March 24, 2011 – Comments (1)

Today, Nevada will decide whether or not to allow online poker to become legal. This would be the first state to pass such a measure and could start a domino effect in other states. Currently, millions of people gamble online every day but through outside sources since it is illegal in the United States. Therefore the States and Federal Government are left flat when it comes to taxing these profits. It is said they are missing out on billions in revenue by lack of taxes. When almost all states are facing possible bankruptcy due to huge deficits, it is an obvious course of action to legalize it.

Small cap stocks that could benefit from this course of action will be CryptoLogic Limited (NASDAQ:CRYP) as well as PokerTek, Inc. (NASDAQ:PTEKD) and even possibly GigaMedia Limited (NASDAQ:GIGM).

Origionally, the large casinos like Las Vegas Sands Corp. (NYSE:LVS) and Wynn Resorts, Limited (NASDAQ:WYNN) were against online gaming because they feared it would take massive business away from them. However, since it appears millions do it anyways, they are now realizing that they could get involved and profit from it as well. The key is to regulate it appropriately. If done correctly, not only could States get a boost of revenue from taxes, but also more profits to the casinos.  Watch for the vote later today in Nevada.

Gareth Soloway
InTheMoneyStocks.com

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Recs

0

Key Stocks Gap Into Solid Resistance, What It Means

March 24, 2011 – Comments (0)

Not only did the markets gap into the 20 and the 50 moving average today, but many leading stocks did as well. This tells smart traders that Wall Street may struggle a little in the next few days while it consolidates below this level. So far the markets pulled off this resistance level all the way to the flat line before bouncing back a little.

Some of the major stocks that opened higher but into resistance were Google Inc. (NASDAQ:GOOG), which opened into the daily 20 moving average and International Business Machines Corp. (NYSE:IBM) which into the 20 and 50 moving average. Again, the key here is to recognize that leading stocks are hitting resistance ranges just as the markets are doing the same. This basically means that traders are now moving from a bullish bias over the last week to a more neutral or neutral to small negative bias.

Reading the charts is the number one thing any successful trader does. The charts tell the whole story while the media and fundamentals only tell half. Learn the charts and profit.

Gareth Soloway
InTheMoneyStocks.com

  [more]

Recs

0

Master Levels On Apple For The Day

March 24, 2011 – Comments (0)

 Apple Inc. (NASDAQ:AAPL) has been on a wild ride over the last month. On February 16th, 2011, Apple made an all time high at $364.90. Since then, things have started to fall apart. The stock has plummeted to a recent low of $326.26 as the market has had a small correction and the brain, Steve Jobs took a leave of absence.

As the markets have rebounded over the last week, Apple has also had a decent bounce back. Today it is trading at $340.13 +0.94 (+0.28%). Below, are are all the master levels for Apple during the trading day. Each resistance level should be a solid short while each support should be a great quick long scalp.

Gareth Soloway
InTheMoneyStocks.com

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Recs

0

Markets Gap Into Resistance

March 24, 2011 – Comments (0)

 The SPDR S&P 500 ETF (NYSE:SPY) opened sharply higher today on the back of continued optimism on the global economy. Things remain somewhat quiet in the Middle East, Japan and even Europe. The markets have adapted to the craziness of the last month and at this point, unless something new happens, the markets seem to be in rally mode again.

The SPY opened higher at $130.40, just below a major neck tie resistance point on the daily chart. This level is made up of the 20 moving average and the 50 moving average. In the short term this may keep the markets from breaking higher.

One of the other positives for today in the market is Best Buy Co., Inc. (NYSE:BBY). Best Buy reported better than expected earnings this morning and is sharply higher. Durable goods orders and jobless claims were also reported approximately in line with estimates.

Gareth Soloway
InTheMoneyStocks.com


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Recs

0

Pre-Market News and Views

March 24, 2011 – Comments (0)

This morning the S&P 500 e-mini futures are trading higher by 7.00 points to 1299.00 per contract. The futures began to rally around 3:30 am EST when they were trading as low as 1298.25 per contract. The S&P 500 e-mini futures have now rallied higher by 59.00 points since its March 17, 2011 low pivot. The major stock indexes have continued to climb the wall of worry despite all of the geopolitical events taking place in the Middle East, Japan, and Europe.

This morning durable goods orders declined by 0.09 percent which was the largest decline in four months. This news is having very little effect on the S&P 500 e-mini futures this morning. Initial jobless were reported this morning and were better than expected declining by 5000 to 382,000 claims. 

The Asian markets were basically flat last night. The highly watched Nikkei Index(Japan) was lower by just 14.0 points despite the ongoing problems with damaged nuclear reactors. The Sensex Index(India) was the big winner last night trading higher by 145.00 points or 0.80 percent. Therefore, the India Fund(NYSE:IFN), and Tata Motors Ltd.(NYSE:TTM) could see an early morning bounce. 

Moody's downgraded 30 Spanish banks this morning, however, the Currencyshares Euro Trust(NYSE:FXE) does not seem to be effected at all by the news. Portugal debt yields are spiking on the 2 year bonds and that does not seem to be having any negative effects on the major stock indexes in the United States. 

WTI oil is trading just under the $106.00 level. Gold and silver are also rallying higher before the opening bell. We shall see if these commodity leaders can keep climbing higher as they are getting a little overbought. 



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

2

This Is Why We Must Use Charts

March 23, 2011 – Comments (0)

What kind of a trading day is this when the major stock market indexes trade higher with oil, gold, silver, and the U.S. Dollar Index? Most fundamental traders would think that high oil prices would bring down the major stock indexes. After all, oil is trading at $106.00 a barrel. Whenever, the U.S. Dollar Index has traded higher on the session most commodities have pulled back or at least stalled out. Not today, as copper, gold, and silver are all trading sharply higher. In fact, silver is trading at a new 35 year high today closing above $37.00 an ounce. This type of action is just something we would not conceive in these uncertain times. This is why we use charts.

The old legendary traders used to say that you should trade what they see and not what they think or believe as thinking just gets in the way. I have personally written this rule in my brain and it has served me better than any other rule over the past 10 years. Eventually, oil, gold, silver, copper, the U.S. Dollar Index, and the major stock market indexes will not trade higher together forever. They will eventually break apart and go back to their inverse relationships. As a trader we need to recognize that when it occurs and the best way to do that is by using the charts.


Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

The Apple May Fall Far From The Tree

March 23, 2011 – Comments (0) | RELATED TICKERS: AAPL , MSFT

As Steve Jobs continues to become less and less of an impact player at Apple Inc. (NASDAQ:AAPL), whisperings on Wall Street have started. Institutional players and big hedge funds seem to be questioning the ability for Apple to continue to grow at such a quick pace. This growth rate has given it the price to earnings multiple it currently holds. The quiet talk has been something that has built up since Steve Jobs took his second leave of absence from the company in recent months but is only partially a result of his departure.

Throughout history, companies have gone into mega growth momentum phases. Look back at stocks like Microsoft Corporation (NASDAQ:MSFT) and Cisco Systems, Inc. (NASDAQ:CSCO). These stocks had their golden years where they were the talk of the town. Everyone owned them and thought the good times would never end. However, inevitably, the good times always end. This is two fold. First, the larger you become, the harder it is to grow at the same rate as previous years. Doubling your size when you are a $100 million company is a lot easier than when you are a $100 billion company. Secondly, every other company in the sector targets you as a leader, copies you and tries to one up you. As the competition pushes faster and harder, it is almost impossible for the leader to not stumble. One miss step by management and you are the old maid.

As the iPhone is amazing, the Droid is right there. As the iPad is a work of art, many companies already have competing products on the market which are nearly as good, if not just as good. Price wars begin, margins drop and ultimately stock price falls. This is the cycle of life as a mega growth company.

This talk has been increasing since the departure of Steve Jobs. Part of it obviously has to do with him being the brain of Apple now absent. However, the other half is definitely the mega company syndrome. It looks like many large institutions and hedge funds have started to unload their Apple positions. While they still hold Apple, a distribution of sorts has been increasing as they sell into the retail investor. This can clearly be seen in the stock price as it has stalled out and created an M top. This type of top is usually bearish and smells of distribution by the big boys.

While Apple will remain a leader for years to come, investors must start to wonder if their fate may be sealed like that of Microsoft and Cisco. Microsoft ran to $60 per share in 2000 only to fall back to the $20 - $30 range for the last ten years. Could this be the fate of Apple?

Gareth Soloway
InTheMoneyStocks.com

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Recs

0

Fertilizer Stocks Sprout

March 23, 2011 – Comments (0) | RELATED TICKERS: MOS , POT

While the markets are slightly lower on the day, the fertilizer stocks have started to make a move higher. Earlier today, stocks like Potash Corp.Saskatchewan (NYSE:POT), The Mosaic Company (NYSE:MOS) and Monsanto Company (NYSE:MON) were all lower. However, in the last hour they have turned around and moved to the positive side.

The key to understanding this move is two fold. First, the global population, especially in emerging markets continues to climb. As emerging market economies gain wealth, their people demand more food and higher quality. This increases the need for an acre of land to yield more produce. That has been the case for the strength in Potash, Mosaic and Monsanto over the last few years. However, just in the last few weeks a new front has emerged. The Japanese earthquake, tsunami and disastrous nuclear meltdown created a toxic mess. Not only is food full of radiation but their water supply has been contaminated as well. Japan, the third largest economy in the world is now in a position of having to import massive amounts of food. In the short term this could be a bullish case for these fertilizer plays.

These stocks may continue to remain strong unless one scenario occurs. Should the global economy slip back into recession, these stocks would suffer. In all other cases, these stocks should continue to remain strong, especially in the wake of the Japanese nuclear crisis.

Gareth Soloway
InTheMoneyStocks.com
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Recs

1

Research In Downward Motion

March 23, 2011 – Comments (1)

Research In Motion Ltd.(NASDAQ:RIMM) is one of the leading mobile device makers in the world. The stock has been weak on the daily charts since topping out on February 18, 2011 at $70.54 a share. The stock is declining again this morning by $1.00 to $61.40 a share. Traders can watch the $60.95 area for intra-day support. Please remember that the major stock indexes are weak today and this support level may not hold up very long if the market declines further. The next Intra-day support area would be around the $60.50 area.


Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

WalMart Declines Again. Watch These Levels

March 23, 2011 – Comments (0)

Walmart Stores Inc.(NYSE:WMT) is the worlds largest and leading retail stock. This morning the stock is declining lower by 0.50 cents to $51.50 a share. The stock will have intra-day support around the $51.45 area. This is a level where the stock could see a short term intra-day bounce. Should this level fail to hold up the next intra-day support area for WMT stock will be around the $51.00 level.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

1

Gold And Silver Hang In There

March 23, 2011 – Comments (0)

This morning gold and silver are both holding up very well despite the sharp bounce in the U.S. Dollar Index. Often, gold and silver will trade inverse to the U.S. Dollar Index, however, there are times when the precious metals and the U.S. Dollar can trade higher together.

The SPDR Gold Shares(NYSE:GLD) are trading higher by 0.69 cents to $139.74 a share. The move higher in gold comes as the problems in the European Union are escalating in Ireland, and Portugal, this morning. Many investors will sell the Euro and buy gold and silver when yields spike higher in the troubled Euro-zone nations. The GLD will have intra-day resistance around the $140.75 level.

The ishares Silver Trust(NYSE:SLV) is trading higher by 0.12 cents to $35.66 a share. The SLV is now trading at its 35 year high. The SLV will have intra-day resistance around the $35.85 and $36.10 levels. As long as central banks around the world continue to print money at an alarming rate gold and silver can be bought on pullbacks.



Nicholas Santiago
InTheMoneyStocks.com
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Recs

0

Pre-market News And Views

March 23, 2011 – Comments (0)

Oil will be the lead story today as WTI crude is trading above the $105.00 level. It is still amazing that many talking heads in the financial media are discounting the effects of high energy prices. Please remember that U.S. consumer spending accounts for 70.0 percent of the gross domestic product(GDP) in the United States. GDP really has no choice but to be negatively effected going forward.

The problems in the Middle East, and North Africa, continue to escalate and show no signs of easing up anytime soon. Libya, Yemen, Egypt, and Bahrain, remain in turmoil. Many investors and traders are watching Saudi Arabia very closely. Should a disruption occur in Saudi Arabia, which is the largest producer of oil in the Middle East, a super spike in oil is possible. This morning the United States Oil Fund(NYSE:USO) is trading higher by 0.20 cents to $42.10 a share.

Euro-zone nations such as Ireland, Portugal, and Greece have bond yields surging this morning. Obviously, the European Central Bank will have to step in a buy more debt from these countries in order to bring the yields back down. This is exactly what the Federal Reserve does in the United States on a daily basis via its permanent open market operation(POMO). This morning the Currencyshares Euro Trust(NYSE:FXE) is declining sharply 0.70 cents to $140.80 a share. When the Euro declines it usually means that the U.S. Dollar Index is higher and that is the case this morning.

Asian markets were mixed overnight. The Nikkei Index(Japan) declined by 1.65 percent. The Shanghai Index(China) and the Sensex Index(India) were both higher by more than 1.00 percent. When the Shanghai Index trades higher traders should watch for leading commodity stocks to be in play at the open. Stock such as Freeport McMoRan Copper & Gold Inc.(NYSE:FCX), and Cliffs Natural Resources Inc.(NYSE:CLF) will trade trade higher before the opening bell at the New York Stock Exchange.

The major stock indexes have bounced sharply over the past week. Many leading stocks are now trading into important resistance levels, therefore, expect this market to be more volatile today.

Nicholas Santiago
InTheMoneyStocks.com
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Recs

0

Nordstrom Fades From Gap Higher Open

March 22, 2011 – Comments (0)

Nordstrom Inc.(NYSE:JWN) is a leading high end retail stock. This morning the stock opened up sharply higher at $43.42 a share. Since that opening high the stock has faded lower throughout the session. As of 3:21 pm EST Nordstrom stock is trading higher by just 0.32 cents to $42.61 a share. Scalp traders can watch for minor intra-day chart support around the $42.45 area and more around the $42.25 level. Both levels could see small intra-day bounces.

Nicholas Santiago
InTheMoneyStocks.com

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Recs

0

Oil Blasts Off Again

March 22, 2011 – Comments (0)

The catalyst for higher oil prices today is certainly the fighting and rioting in Egypt, Libya, Bahrain, and Yemen. The United States Oil Fund has surged higher intra-day by 0.85 cents to $42.00 a share. Spot crude jumped higher on the NYMEX by $1.67 to $104.00 a barrel. If there are any protests in Saudi Arabia, oil could really see a sharp spike higher. The new intra-day resistance level for the USO will be around the $42.25 and $42.60 levels.

 

Nicholas Santiago
InTheMoneyStocks.com
  [more]

Recs

1

USO Is Making A Move

March 22, 2011 – Comments (0)

The highly popular United States Oil Fund(NYSE:USO) is starting to catch a bid higher this morning. Spot oil and the USO both started the trading session in negative territory. However, that has now changed as spot oil is flat on the session trading around $103.10 a barrel. The USO is trading higher by 0.28 cents to $41.41 a share. Traders must watch for resistance on the USO around the $41.60 area. Remember, if fighting or protests escalate in the Middle East oil could trade higher.

The United States Gasoline Fund(NYSE:UGA) is also rallying off of its intra-day lows and is now trading lower by just 0.04 cents to $48.67 a share. The all time high for the UGA was made on March 7, 2011 at $49.98 a share. Short term traders should still watch the $50.00 area as minor daily chart resistance. Short term day traders must watch the $49.25 are as intra-day resistance should the UGA trade higher throughout the session. 


Nicholas Santiago
InTheMoneyStocks.com
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Recs

0

Transports Pulling Back Early

March 22, 2011 – Comments (0)

This morning the iShares Dow Jones Transportation ETF(NYSE:IYT) is pulling back a bit. The transports have rallied sharply higher since making a pivot low on March 15, 2011. Day traders can watch for intra-day support on the IYT around the $92.60 area. This would be a short term bounce area for the transports.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

1

Copper Could Be Telling A Different Tale

March 21, 2011 – Comments (0)

Copper has long been known as a leading economic barometer for the major stock indexes. Today copper is trading lower on the trading session despite the huge stock market rally in the major stock indexes. This afternoon the iPath Dow Jones UBS Copper ETN(NYSE:JJC) is trading lower by $1.07 to $56.78 a share. This is very unusual action in the industrial metal when the stock market indexes are sharply higher. Last night the Shanghai Index(China) was basically flat and that could be the cause of today's weak action in copper. If it is not then weak copper could mean that more stock market declines are coming again soon.

Freeport McMoRan Copper & Gold Inc.(NYSE:FCX) is trading higher today by 0.49 cents to $52.27 a share. This stock is holding up well considering the weak action in the JJC. FCX stock will have intra-day support around the $51.90 area.

Southern Copper Corp.(NYSE:SCCO) is another leading copper producer that is trading slightly higher today. The stock is trading higher by 0.30 cents to $40.18 a share. Southern Copper stock will have intra-day support around the $39.70 area should it pullback or decline. It is rare to see the leading copper stocks trade positive when the actual commodity is lower on the day.



Nicholas Santiago
InTheMoneyStocks.com

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Recs

0

Texas Instruments Holds Steady. Watch This Bounce Area

March 21, 2011 – Comments (0)

Texas instruments Inc.(NYSE:TXN) is a leading semiconductor stock that is trading higher by 0.41 cents to $33.76 a share. The stock has pulled back from its first hour high of $34.12 a share. Traders can watch for short term intra-day support around the $33.50 area. This level should see a small bounce. The next important support level for TXN stock will be at the $33.30 level which is another small intra-day bounce area.

 

Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

1

Technical Levels: Money Flow Into Tech

March 21, 2011 – Comments (0)

Technology shares are spiking higher today, leading the markets. The Nasdaq is higher by 50.34 (+1.90%), trading at 2,694.01, while the S&P 500 and Dow Jones Industrial Average are lagging, up a respectible 1.5%. It appears money flow which had been shunning the technology sector is now rushing back in. Financial stocks are also weaker today after being stronger last week. It appears money is flowing from the bank stocks into the beaten down technology stocks.

It is truly fascinating to watch the charts. For instance, more tech stocks hit master levels of support last week prior to this rally than any other group in the market. This signaled a high probability of money inflow as trading programs and hedge fund players were spotting these levels. Take a look at the chart of Microsoft Corporation (NASDAQ:MSFT). Just last week the stock sold into a key gap fill from October 12th, 2010 and also hit a double bottom from November 29th, 2010. These two coinciding levels and an oversold Microsoft chart, signaled a high probability of a solid bounce. Today, Microsoft is trading at $25.37, +0.57 (+2.30%).

Another stock that has surged in the last few days since the markets made a short term bottom is Hewlett-Packard Company (NYSE:HPQ). Hewlett-Packard was very a oversold chart and last week finally hit two major support levels. This level came into play at a gap fill from September 23rd, 2010 at just above $40.00. In addition, direct your attention to the pivot low made in early October. This also coincided with the $40.00 level. The combination of these two levels made Hewlett-Packard a sweet spot for smart traders. Since that $40.00 level area, HPQ has bounced back, hitting a high today of $42.10.

These are just two examples of major technical levels hit on technology stocks. Take a look at Apple Inc. (NASDAQ:AAPL) and Google Inc. (NASDAQ:GOOG) last week as well. Both hit major levels. Apple Computer hit the master $326.50 level which was the pivot low from January 21st, 2011 and Google kissed the 200 moving average on the daily chart.  There was literrally no way the markets were going to break lower in the short term without a bounce via technology. Learn the charts and profit.

Gareth Soloway
InTheMoneyStocks.com  [more]

Recs

0

Integrated Energy Stocks Lead Rally

March 21, 2011 – Comments (0)

Wells Fargo & Co.(NYSE:WFC) is struggling this morning to catch a meaningful bid higher despite the large stock market advance. This tells us that Wells Fargo stock is weak relative to the major stock indexes. Scalp traders can watch the $31.40 area as intra-day support and a likely bounce level for the stock.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Wells Fargo Struggles Despite Market Rally

March 21, 2011 – Comments (0)

Wells Fargo & Co.(NYSE:WFC) is struggling this morning to catch a meaningful bid higher despite the large stock market advance. This tells us that Wells Fargo stock is weak relative to the major stock indexes. Scalp traders can watch the $31.40 area as intra-day support and a likely bounce level for the stock.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Juniper Drops Again. Watch This Support Area

March 21, 2011 – Comments (0)

Juniper Networks Inc.(NASDAQ:JNPR) has been very weak as of late declining from its recent high made on March 8, 2011 at $45.01 a share. This morning JNPR stock is declining by $1.28 to 38.97 a share. The stock should have intra-day support around this area. Traders can look for a small bounce around the $38.90 area.


Nicholas Santiago
InTheMoneyStocks.com



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Recs

0

Pre-Market News And Views

March 21, 2011 – Comments (0)

The S&P 500 e-mini futures are soaring higher this morning by 15.00 points to 1289.25 per contract as the nuclear reactor situation in Japan seems to be improving. The Asian markets rallied higher overnight with the Hang Seng(Hong Kong) trading higher by 2.72 percent. The highly followed Shanghai Index(China) was higher by just 0.08 percent. It will be interesting to see how the leading commodity stocks will react this morning. Just about every sector or industry group is trading higher ahead of the opening bell at the New York Stock Exchange.

WTI oil is trading higher by $2.05 to 103.89 a barrel this morning. The spike in oil comes as the fighting in Libya increases. Yemen and other nations are now starting to see a flare up in violence. If problems stem to Saudi Arabia it could cause a super spike in crude. Therefore, many traders and investors are walking a fine line when it comes to selling the commodity short. The United States Oil Fund(NYSE:USO)is trading higher this morning by 0.55 cents to $41.53 a share.

Gold and silver are both trading higher ahead of the opening bell as the U.S. Dollar Index makes new 52 week lows. The U.S. Dollar index has declined by 15.00 percent since June 7, 2010. The more money that the Federal Reserve and the other central banks around the world create the higher gold and silver could trade. Remember the U.S. Dollar is the worlds reserve currency and when it declines goods that people need for survival will become more expensive.

In takeover news this morning, wireless carrier AT&T Inc.(NYSE:T) will purchase T-Mobile USA from Deutsche Telekom for $39 billion. Sprint Nextel Corp.(NYSE:S) is selling lower by 0.60 cents to $4.38 on the announcement.


Nicholas Santiago
InTheMoneyStocks.com
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Recs

0

What You Need To Know: Rally Day Two

March 18, 2011 – Comments (0)

The markets moved higher again today on the back of G7 intervention in the currency markets as the Yen was pushed down and a no fly zone was put into place over Libya. The global powers are doing their best to quiet the issues in the world right now and allow for stability to return. The markets are reading these actions as positive and a rally for the second day is under way.  The SPDR S&P 500 ETF (NYSE:SPY) is trading at $128.16, +0.87 (+0.68%).

Today is also options expiration and often a positive day. The early portion of the week saw massive selling killing the call buyers while the second half of the week has seen a surge higher, taking money from the put buyers. This is classic options expiration whipsaw from the institutional players.

Commodities are jumping higher with gold and silver leading the charge. The SPDR Gold Trust (NYSE:GLD) is trading at $138.53, +1.56 (+1.14%) while the iShares Silver Trust (NYSE:SLV) is trading at $34.23, +0.72 (+2.15%). It appears that as the G7 intervenes in the currency markets, more people feel like currencies are not worth holding, thus buying gold and silver. Throughout history, intervention has rarely worked out for the best when it comes to the markets. It usually creates more problems down the line.

A majority of stocks are nicely higher with a few exceptions. Technology shares are slightly weaker compared to their counterparts in the S&P500 and Dow Jones Industrial Average. Worries surfaced again about Steve Jobs as rumors over him officially leaving the company surfaced. Apple Inc. (NASDAQ:AAPL) is trading at $331.77, -2.87 (-0.86%).

While the markets remain solidly higher, Wall Street continues to be nervous. Compared to a month ago, there are hot beds of major issues everywhere. The Middle East, Japan, Europe and more. This means traders will expect choppy wild trading for the near term as new information is constantly being priced into the markets.

Gareth Soloway
InTheMoneyStocks.com



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Recs

0

What You Need To Know: Rally Day Two

March 18, 2011 – Comments (0)

The markets moved higher again today on the back of G7 intervention in the currency markets as the Yen was pushed down and a no fly zone was put into place over Libya. The global powers are doing their best to quiet the issues in the world right now and allow for stability to return. The markets are reading these actions as positive and a rally for the second day is under way.  The SPDR S&P 500 ETF (NYSE:SPY) is trading at $128.16, +0.87 (+0.68%).

Today is also options expiration and often a positive day. The early portion of the week saw massive selling killing the call buyers while the second half of the week has seen a surge higher, taking money from the put buyers. This is classic options expiration whipsaw from the institutional players.

Commodities are jumping higher with gold and silver leading the charge. The SPDR Gold Trust (NYSE:GLD) is trading at $138.53, +1.56 (+1.14%) while the iShares Silver Trust (NYSE:SLV) is trading at $34.23, +0.72 (+2.15%). It appears that as the G7 intervenes in the currency markets, more people feel like currencies are not worth holding, thus buying gold and silver. Throughout history, intervention has rarely worked out for the best when it comes to the markets. It usually creates more problems down the line.

A majority of stocks are nicely higher with a few exceptions. Technology shares are slightly weaker compared to their counterparts in the S&P500 and Dow Jones Industrial Average. Worries surfaced again about Steve Jobs as rumors over him officially leaving the company surfaced. Apple Inc. (NASDAQ:AAPL) is trading at $331.77, -2.87 (-0.86%).

While the markets remain solidly higher, Wall Street continues to be nervous. Compared to a month ago, there are hot beds of major issues everywhere. The Middle East, Japan, Europe and more. This means traders will expect choppy wild trading for the near term as new information is constantly being priced into the markets.

Gareth Soloway
InTheMoneyStocks.com



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Recs

0

Chesapeake Energy Losing Steam

March 18, 2011 – Comments (0)

Chesapeake Energy Corp.(NYSE:CHK) is a leading natural gas stock that has been under pressure since yesterday when it traded as high as $35.37 a share. Today, Chesapeake Energy stock is trading lower by 0.37 cents to $33.64 a share. Should the stock decline further throughout the day short term scalp traders can watch the $33.00 and $32.50 levels as intra-day support. The $32.50 area looks like a very attractive as an intra-day bounce area for the stock.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

F5 Networks Under Pressure

March 18, 2011 – Comments (0)

F5 Networks Inc.(NASDAQ:FFIV) is one of the leading networking stocks in the tech heavy Nasdaq 100. This stock is declining lower today by $3.35 to $100.06 a share. The stock will have some minor intra-day support around the $99.25 area and more around the $98. 50 area. Should the stock fail to hold these short term support levels this stock could see sharper declines.

Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Pre-Market News And Views

March 18, 2011 – Comments (0)

This morning the S&P 500 e-mini futures(ES M1) are soaring higher by 12.50 points to 1281.50 per contract. The rally in the futures comes as the Japanese Nikkei 225 Index rose by 2.72 percent last night. The strength of the Japanese Yen has also pulled back sharply as the G7 said they will intervene to devalue the Japanese Yen. Yesterday, I wrote that the Japanese Yen was very extended on the charts and due for a pullback. Charts are all we need as they seem to be one step ahead of the news.

Crude is pulling back this morning by 0.80 cents to $100.58 a barrel. The United Nations has established a no fly zone over Libya and this has certainly caused oil to pullback sharply. This is also helping stock index futures to rally higher. Should other problems arise in the Middle East and North Africa it would be prudent to expect oil to trade higher again. High oil prices do hurt the economy, therefore, oil must be watched closely everyday.

The important Shanghai Index traded higher by 0.32 percent last night despite an increase in bank reserve requirements by The Peoples bank of China(China central bank). China and most of the Asia countries continue to fight high inflation. Usually, when the Shanghai Index trades higher commodity stocks will increase. Therefore, stocks such as Cliffs Natural Resources Inc.(NYSE:CLF), and Freeport McMoRan Copper and Gold Inc.(NYSE:FCX) could be in play at the open this morning.

Today is quadruple witching options expiration. This is when options contracts will expire for stock index futures, stock index options, single stock futures and stock options. Please remember the volume is usually heavy during the first two hours of the session and then the market will usually quiet down into the close.


Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

1

Airline Stocks Fail To Take Off With Indexes

March 17, 2011 – Comments (0)

The major airlines stocks have not participated in today's rally. These stocks have been in a down trend since early November 2010 and continue to look weak on the daily charts.

AMR Corp.(NYSE:AMR) is trading lower today by 0.12 cents to $6.32 a share. This stock recently found a short term low around the $6.00 level on March 4, 2011. However, if AMR stock trades below that pivot in early March the stock could trade down to the $5.50 level which is the next short term daily chart support area. Therefore, it is very important for AMR stock to remain above the $6.00 area.

Delta Air Lines Inc.(NYSE:DAL) is another major carrier that is trading lower this afternoon. This stock is trading lower by 0.35 cents to $9.85 a share and is making a new 52 week low. It is important to remember that Delta Airlines merged with Northwest Airlines last year and maintains a large hub in Tokyo, Japan. The crisis in Japan at this time is certainly going to effect this stock. The next important daily chart support area for this stock will be around the $9.00 level.

United Continental Holding Inc.(NYSE:UAL) also has a large presence in Japan and this stock is selling off this afternoon. UAL stock is trading lower by 0.76 cents to $22.07 a share. The $22.00 area has served as support for UAL stock throughout the past 30 days. The next important daily chart support levels for UAL stock will be around the $22.50 and $19.00 levels.



Nicholas Santiago
InTheMoneyStocks.com
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Recs

3

Monster Bounce, However, There Are Pockets Of Weakness

March 17, 2011 – Comments (1)

Today, the major stock indexes are staging a very good rally. The advance higher in the market is broad based as most leading stock sectors are trading higher. However, there are pockets of weakness in the market that cannot be ignored today. These weak trading leading stocks could be signaling that today's move higher is nothing more than an oversold technical rally.

One sector or group of stocks that is not participating in today's rally is the financial stocks. These stocks have lead the advance higher since late November 2010. Leading financial stocks such as J.P. Morgan Chase & Co.(NYSE:JPM), and Well Fargo & Co.(NYSE: WFC) are struggling to trade positive today. These two financial stocks have been market leaders and this tells us that while today's rally is strong point wise these leaders are telling us something else.

Amazon Inc.(NASDAQ:AMZN) has been weak as of late as the company battles many state governments over sales tax. In any case this stock is a major part of the NASDAQ 100 and is declining sharply lower today by $2.63 to $162.15 a share. On a trading session where euphoria is dominating the sentiment Amazon stock should be trading better.

Other leading stocks that are lagging the markets today are Walmart Stores Inc.(NYSE:WMT), Adobe Systems Inc.(NASDAQ:ADBE), F5 Networks Inc.(NASDAQ:FFIV), Juniper Networks Inc.(NASDAQ:JNPR), and Salesforce.com(NYSE:CRM). When market leaders fail to rally with the overall markets this tells us that there is still a lot of weakness in the market and today may not be much more than an oversold rally.

Traders and investors must also keep an eye on oil very closely. High oil prices are a direct tax on these that use the product. Spot crude is trading back above the psychological $100.00 level and that is certainly not a positive for the major stock indexes going forward. Traders must take this market one day at a time.



Nicholas Santiago
InTheMoneyStocks.com
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Recs

1

Markets Put Gloom And Doom Behind Them

March 17, 2011 – Comments (1)

The markets shot higher today as the U.S. Dollar got crushed. As of today, the panic and fear from yesterday is ancient history. As long as no new major catastrophes are unfolding, the markets are taking a breather and bouncing. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $127.87, +1.69 (+1.34%).

Yesterday, there were major signals that the market would get a bounce today. These signals are common when a market makes a short term bottom. The first signal was the negation of all the 2011 gains and the major gap fill from December 31st, 2010. As the SPY shot lower, it went to $125.75. This happened to be the closing price on the last trading day of 2010. With the massive flush yesterday, the markets negated all the gains for 2011. In addition, yesterday saw massive volume. Not just big mind you, but massive. This is known as capitulation volume where the weak hands give up, dumping their positions. When the retail investors sell, the bottom is in. The climax of fear plus increased volume showed a bottom was most likely in the markets for the short term. The up move today confirms it.

In addition the the signals of a short term bottom, the Dollar is a major key to the markets rise.  The Dollar is in major break down mode.  The PowerShares DB US Dollar Index Bullish (NYSE:UUP) is trading at $21.83, -0.18 (-0.82%). The major support on the UUP was $21.90.  Over the past couple years this level has held. However, today it has been broken. This could be the start of a major new move lower on the U.S. Dollar. A weaker Dollar is usually good for stocks.

Gareth Soloway
InTheMoneyStocks.com

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Recs

0

WalMart Stuggles On Rally Day

March 17, 2011 – Comments (0)

WalMart Stores Inc.(NYSE:WMT) is the worlds largest and leading retail company. This morning WMT stock is struggling to catch a bid despite the huge market rally in all of the major stock indexes today. WMT stock is trading lower by 0.07 cents to $51.31 a share. Whenever a stock is trading down on the session when the markets are rallying higher this is telling us that the stock has weak relative strength. WMT stock remains in a down trend on the daily charts at this time by trading below its 50, and 200 moving averages. Short term traders can look for intra-day support around the $51.00 area.



Nicholas Santiago
InTheMoneyStocks.com

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Recs

0

Silver Wheaton Catches A Bid

March 17, 2011 – Comments (0)

This morning gold and silver are trading slightly higher during the morning trading session. The move higher in the precious metals are not as strong as one would expect with the sharp decline in the U.S. Dollar Index. Often when the U.S. Dollar Index declines so sharply the major stock indexes, and most commodities will soar higher.

Silver Wheaton Corp.(NYSE:SLW) is a leading silver streaming company. This stock will usually follow the action in silver. Today SLW stock is trading higher 0.98 cents to $39.42 a share. Short term traders can watch for intra-day resistance around the $39.80 level and more resistance around the $40.50 area. Both resistance levels could see small pullbacks.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Early Rally. Watch These Resistance Levels

March 17, 2011 – Comments (0)

Just about every leading stock this morning is catching a bid higher. Short term traders must always guard against chasing a stock that is already stretched and extended. Therefore, we shall isolate a few resistance points on some leading stocks.

Exxon Mobil Corp.(NYSE:XOM) is soaring higher this morning by $1.38 to $80.68 a share. This leading integrated energy stock will have intra-day resistance around the $80.85 level. Should the stock break above that resistance point later in the trading session traders can look for more intra-day resistance around the $81.60 area. Both levels could see small pullbacks intra-day.

Qualcomm Inc.(NASDAQ:QCOM) is a leading technology stock that is a major part of the NASDAQ 100 Index. This stock is trading sharply higher at the open reaching the $53.00 level. Qualcomm stock will have intra-day resistance around the $53.50 level. Should the stock rally above that level traders must watch the $54.00 level as the next important intra-day resistance area.

CSX Corp.(NYSE:CSX) is trading higher with the rest of the transportation sector. This leading railroad stock is trading higher by $1.54 to $75.22 a share. This stock should have strong intra-day resistance around the $76.00 level. Traders can look for a pullback around this area.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

1

Pre-Market News And Views

March 17, 2011 – Comments (0)

This morning the S&P 500 e-mini futures(ESM1) are soaring higher by 17.50 points to 1271.50 per contract. Often during the week of options expiration when the major stock indexes decline during the first part of the week the second part of the week will usually see a rebound. The Japanese crisis is still front and center. Many experts are expecting this crisis to take some time before the nuclear reactors can be cooled down and the nuclear material contained.

The weekly initial jobless claims report and the monthly Consumer Price Index(CPI) report were released at 8:30 am EST this morning. Initial claims for the week ending March 12, 2011 declined by 16,000 to 385,000. Economists had expected 387,000 initial jobless claims. The highly followed CPI report for February was reported at 0.05 percent. Economists had expected the report to come in at 0.04 percent. The Core Consumer Price Index for February was reported at 0.2%. The markets rallied higher off of these numbers.

Everyone is talking about the strong Japanese Yen that surged after the market in the U.S. closed yesterday. The Japanese Yen is very extended and has already begun to pullback this morning. Traders can follow the Japanese Yen by following the CurrencyShares Japanese Yen Trust(NYSE:FXY).

Last night the Asia markets were all down by a little more than 1.00 percent. The Nikkei 225(Japan) traded lower by just 1.40 percent and this was certainly a strong recovery for the index that was down over 5.00 percent at the open.

FedEx Corp.(NYSE:FDX) is soaring higher after reporting earnings. The stock is catching a strong bid higher with the S&P 500 Index futures. This stock and other transport stocks will be in play today.

Oil is trading back above the $100.00 a barrel level this morning. The major stock market indexes often view high oil as a negative, however, the market does not seem to care about high oil today. Gold and silver are slightly higher this morning. The U.S. Dollar Index is declining sharply lower again this morning helping to inflate the markets.




Nicholas Santiago
InTheMoneyStocks.com



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Recs

0

Markets Stage Huge Intra-day Bounce Again

March 16, 2011 – Comments (0)

Yesterday and today, the major stock market indexes have staged a late afternoon rally. Around 2:30 this afternoon the SPDR S&P 500 Trust(NYSE:SPY) was trading as low as $125.38 a share in a heavy volume sell off. Shortly afterward the major stock indexes staged a sharp 1.00 point move higher. Please understand that a 1.00 point move in the SPY equals a 10 points in the S&P 500 Index. Traders should watch for SPY resistance around the $128.00 level intra-day.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

2

Whipsaw Wednesday

March 16, 2011 – Comments (0)

The Wednesday before options expiration is usually the most volatile trading session of the entire month. This is a time when the institutional traders will try and shake out most of the small retail options traders that have positions in the popular leading stocks. Look at the action in stocks such as NetFlix Inc.(NASDAQ:NFLX), and Apple Inc.(NASDAQ:AAPL) yesterday and today. These stocks have traded all over the map today. Please understand that most small options traders never exercise their options positions. They simply look to close out their positions for the premium gained or loss before the option expires.

Yes, there are major problems going on in Japan today that are very serious, however, the rumors and the news stories seem to get over exaggerated during the week leading up to options expiration. This is a time to trade the best chart pattern setups and to follow the charts. If the action becomes too volatile or erratic for traders they can simply stay on the sidelines and wait for better chart setups. Traders and investors do not have to be in the market during every minute of the day or week. This type of action today is exactly why we call this day of the month, Whipsaw Wednesday.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Keys: Major Support Trying To Hold

March 16, 2011 – Comments (0)

The markets are again testing the double bottom from yesterdays low. This level on the SPDR S&P 500 ETF (NYSE:SPY) is $126.50. If this area breaks, the SPY will fall to $125.90. Earlier today, the $126.50 level was tested but the Federal Reserve stepped in and extended their open market operations to help save the market. The markets are continuing to spin and worry about inflation, housing problems and of course Japan, the Middle East and Europe's debt problems. Watch this key $126.50 level. If it holds, we could rally back up into the markets close, if it breaks, $125.90 is next.

International Business Machines Corp. (NYSE:IBM) is getting smacked today. Just a few days ago this was the strongest stock in the Dow Jones Industrial Average. Now it is dragging the index down sharply. IBM is trading at $152.81, -6.21 (-3.91%). If it continues to fall today, major support will pop up at $150.00.

MasterCard Incorporated (NYSE:MA) and Visa Inc. (NYSE:V) are two of the only large caps to be higher today. Both are trading up slightly on the day. Silver and gold have moved towards the negative side showing continued weakness. If you are following the iShares Silver Trust (ETF) (NYSE:SLV), the key is to see a close below $33.40. If that happens, it is likely a sell could occur that takes it all the way down to $31.15.

Gareth Soloway
InTheMoneyStocks.com


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Recs

1

Google Support Range Nears

March 16, 2011 – Comments (0)

Google Inc. (NASDAQ:GOOG) is selling sharply again on overall market weakness. It is trading lower today at 556.88, -12.68 (-2.23%). Google has been hammered over the last month and down sharply off the 2011 and 52 week highs. On January 19th, the stock hit its 2011 and 52 week high at $642.96. Since that point, Google has fallen sharply, hitting a low today of $556.06. Investors are watching this with fear in their eyes while smart traders are beginning to scope out the charts, looking for the right level for a multi day bounce. According to the chart, this level will be at the 200 moving average on the daily which also coincides with a key gap fill. This level is between $547.00 and $550.00. Google is not far away.

Gareth Soloway
InTheMoneyStocks.com

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Recs

0

Alert: Apple Master Support Levels

March 16, 2011 – Comments (0)

Apple Inc. (NASDAQ:AAPL) is taking a hit today, trading at $334.36, -11.07 (-3.20%). The stock was downgraded by JMP Securities to 'Market Perform' from 'Market Outperform'. Apple is dropping today as the markets are moving lower once again after comments from the EU energy chief on the Japanese situation. Every investor and trader is looking at Apple and wondering where the buy level will be? The first buy level will be between $326.00 and $322.00.  The second major support will be at $300.00.

Gareth Soloway
InTheMoneyStocks.com

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Recs

2

Federal Reserve Admits To Propping Markets

March 16, 2011 – Comments (1)

The markets opened slightly lower and slowly started their light volume climb back to the flat line. Things in Japan appeared to be quiet for the time being as the Nikkei rallied 5% last night. The markets came all the way back to the flat line with the SPDR S&P 500 ETF (NYSE:SPY) hit a high of $128.57. Yesterday, the SPY closed at $128.56. This created a perfect gap fill.

All of a sudden, comments surfaced from the EU energy chief saying the Japan nuclear situation was out of control. The markets started to sell hard, the SPY dumping all the way down to yesterday's double bottom at $126.51. Those comments were quickly pushed aside by the media as they claimed this EU energy chief had no new information and the comments were actually from last night. Sound strange? The SPY bounced over a dollar off the lows. As if that was not enough, it was then reported that the Federal Reserve of New York extended their 'open market operations" through 11:45am ET because of the panic in the markets. This is a direct admission by the Federal Reserve that they are their propping the markets up. Granted, most of the public has no idea what it means but sure enough, that was a pure admission of actual propping in the markets.

Oil, gold and silver are all higher today. Issues in the Middle East are starting to bubble up again. The United States Oil Fund LP (NYSE:USO) is trading at $39.61, +0.22 (+0.56%).

Gareth Soloway
InTheMoneyStocks.com

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Recs

0

Steel Stocks On the Move

March 16, 2011 – Comments (0)

After a disaster of the magnitude that the Japanese people are experiencing there will be a lot of goods needed to rebuild the country. This morning the steel sector is trading higher on the back of that anticipation for steel and steel products.

U.S. Steel Corp.(NYSE:X) is trading higher this morning by $1.57 to $55.58 a share. Short term traders can watch for near term intra-day resistance around the $55.75 and $56.25 levels. Should the stock rally past or through these intra-day resistance levels the next important resistance point would be around the $57.00 area.

AK Steel Holdings Corp.(NYSE:AKS) is another leading steel stock that is trading higher this morning. This stock is higher by 0.36 cents to $15.97 a share. Short term traders can watch for resistance around the $16.10 and $16.40 levels. Both areas could see small intra-day pullbacks.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Gold and Silver See An Early Bounce

March 16, 2011 – Comments (0)

This morning gold and silver are both trading higher this morning. The highly popular SPDR Gold Shares (NYSE:GLD) are trading higher by 0.72 cents to $136.99 a share. Traders can watch for intra-day resistance around the $137.51 and $138.10 levels. Both areas could see small intra-day pullbacks.

The iShares Silver Trust(NYSE:SLV) is trading higher 0.52 cents to $34.13 a share. Short term traders can watch for intra-day resistance around the $34.35 area and more intra-day resistance around the $35.00 area.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Japan Reactor Holds The Cards For The Near Term

March 16, 2011 – Comments (0)

Everyone in the world is watching to see the damage from the Japanese nuclear reactors. As news leaks out that the nuclear reactors are leaking more nuclear waste it seems that the major stock market indexes in the United States are declining. When the news reports are released that the nuclear waste is contained the market is bouncing higher. Therefore, short term traders are handcuffed to the news out of Japan for the moment. Traders know that news can always have a short term impact on the market, however, the overall chart patterns and trends will usually tell the story for the market.

Many traders are following the iShares MSCI Japan Index Fund(NYSE:EWJ) this morning. The EWJ is trading lower by 0.22 cents to $9.81 a share. Short term traders can watch for intra-day support around the $9.59 level. Should that support level fail to hold intra-day the next important intra-day support area will be around $9.00.

Canon Inc. ADR(NYSE:CAJ), Honda Motor Company Ltd.(NYSE:HMC), and Sony Corp.(NYSE:SNE) are all Japanese American Depository Receipts that trading lower this morning. Should the news out of Japan suddenly become better regarding the troubled nuclear reactors these stocks are likely to catch a bid higher.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Pre-Market News And Views

March 16, 2011 – Comments (0)

The S&P 500 e-mini futures(ES M1) are trading lower by 0.50 to 1274.75 this morning. Last night the Nikkei Index(Japan) bounced higher last night by 5.5 percent and this is certainly helping the futures market this morning. All Japanese ADR's could be in focus this morning. Traders should watch stocks such as Sony Corp.(NYSE:SNE), Toyota Motor Corp.(NYSE:TM), and the iShares MSCI Japan Index Fund(NYSE:EWJ). Many problems regarding the nuclear reactors in Japan remain and this must be watched closely by investors and traders.

Oil is rising this morning as WTI crude is trading higher by $1.49 to $98.68 a barrel. The highly popular United States Oil Fund(NYSE:USO) is trading higher by 0.40 cents to $39.81 a share. The Middle East crisis continues to expand throughout Libya, Bahrain, and numerous other nations. Saudi Arabia has remained calm despite the highly publicized 'Day of Rage' that was scheduled for late last week. It turned out to be a day of calm instead in Saudi Arabia. This helped oil prices to pull back. Should oil spike up again this will adversely effect the major stock indexes.

Housing starts and the Producer Price Index(PPI) were released at 8:30 am EST this morning. Housing starts fell 22.0 percent in February to 479,000 units. The expectation by economists was for 570,000 units. Building permits declined by 8.2 percent to 517,000 which is a new record low. The PPI was up by 1.6 percent as food and energy prices surged. Core PPI which excludes food and energy rose 0.02 percent. These reports seems to have very little effect on the markets today as the futures are trading basically flat this morning.



Nicholas Santiago
InTheMoneyStocks.com
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Recs

0

Weak Dollar And Weak Oil Buoy Stocks

March 15, 2011 – Comments (0)

The major stock market indexes have traded sharply off of their intra-day lows. This morning the Dow Jones Industrial Average was lower by nearly 300 points. However, once the trading volume subsided and oil and the U.S. Dollar Index declined the major indexes inflated right back up to cut their losses on the session.

Traders and investors should watch for support on the United States Oil Fund(NYSE:USO) around the $38.50 level intra-day. The U.S. Dollar Index was sharply higher by more than 0.50 cents this morning and has since sold off to the negative side by 0.5 cents to $76.30. When oil and the U.S. Dollar Index decline together it is a recipe for a market rally.

Leading commodity stock Freeport McMoRan Copper & Gold Inc.(NYSE:FCX) has surged higher from its gap lower open. FCX stock is now trading higher by $2.32 to $51.26 a share. Potash Corp Sask Inc.(NYSE:POT) was alerted as a long scalp opportunity around the $53.40 level and has staged a sharp rally into the $54.50 area.


Nicholas Santiago
InTheMoneyStocks.com
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Recs

0

Alert: Key Levels Tagged On QQQQ

March 15, 2011 – Comments (0)

The gap lower today took many key stocks and indexes to major support levels. Whenever a panic gap lower nails massive supports the markets will almost always rise of these lows. This is why using charts is so important for investors, swing traders and day traders. A great example can be seen today on the PowerShares QQQ Trust, Series 1 (NASDAQ:QQQQ).  This is the ETF for the Nasdaq 100 and a good barometer for technology. Today, the QQQQ opened lower at $54.64. This was a drop of almost 3%. This gap down level also was the gap fill point from the closing levels on December 31st, 2010. In other words, the QQQQ erased all the gains from 2011. Based on gap fill and a flat for all of 2011, major support was found. The QQQQ has since rallied strongly higher, now trading at $55.33, -0.96 (-1.71%).

Gareth Soloway
InTheMoneyStocks.com

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Recs

0

Japan Stocks Bounce Off Lows

March 15, 2011 – Comments (2)

Some of the leading Japanese ADR's have bounced sharply off the intra-day session lows this morning. Often when the trading volume lightens up the major stock market indexes in the United States will trade higher.

This morning the iShares MSCI Japan Index(NYSE:EWJ) traded as low as $9.11 a share at the open. Since that time the EWJ has rallied higher and is now trading at $9.71 a share which is the intra-day high. Short term traders must watch the $10.00 area as the next intra-day resistance level.

Sony Corp.(NYSE:SNE) pierced the $29.00 level this morning and bounced sharply higher. Sony stock is trading around the $30.25 level at 10:43 am EST. Short term traders must watch the $31.00 level as the next important intra-day resistance area.

Toyota Motors Corp.(NYSE:TM) has also bounced this morning off of the opening low which was $77.36 a share. The leading auto manufacturer stock is now trading around the $79.30 level. TM stock will have intra-day resistance around the $80.00 area. Should TM stock trade above that level the next important intra-day resistance will be around $81.85.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Insurance Companies Continue to Tumble

March 15, 2011 – Comments (0)

Aflac Inc.(NYSE:AFL) is trading sharply lower this morning. The leading insurance stock is declining lower by $5.28 to $48.67 a share. On March 1, 2011 this stock was trading at a new 52 week high at $59.54 a share. This stock has sold off sharply since the Japan earthquake. Right now the daily chart of AFL is in a weak technical chart position as it is trading below all of its daily moving averages. Traders can watch for intra-day support around the $47.00 level.

Other major insurance stocks that are declining lower this morning are MetLife Inc.(NYSE:MET), Hartford Group Inc.(NYSE:HIG), and American International Group Inc.(NYSE:AIG). Traders and investors could see lower prices in all of the major insurance companies as the bounces in the market this morning have been minimal.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Solar Stocks See Light

March 15, 2011 – Comments (0)

This morning, the stock markets are experiencing a global sell off across the board. Oil, gold, silver, copper, and most other commodities are declining sharply. However, there is one sector that is making a move higher and it is the solar sector.

First Solar Inc.(NASDAQ:FSLR) is the leading solar stock in the market. FSLR is trading higher by $7.02 to $154.00 a share. Traders can watch for intra-day resistance around the $156.40 area. Should FSLR trade higher today the next important intra-day resistance area will be around the $160.90 level.

The Guggenheim Solar ETF(NYSE:TAN) is trading higher by 0.42 cents to $8.19 a share. Traders must watch the $8.30 area as this will be some intra-day resistance. Should the TAN trade above this level the $8.45 area is the next important intra-day resistance level.



Nicholas Santiago
InTheMoneyStocks.com
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Recs

0

Pre-Market News And Views

March 15, 2011 – Comments (0)

The Japanese stock market tumbled last night as the Nikkei 225 Index closed lower by more than 10.5 percent to 8605.15. Reports out of Japan have stated that nuclear plants are continuing to leak radiation over various parts of the country. Evacuations are taking place around the country at this time. The Japanese stock market has lost over $700 billion in market value in the past three days. The highly followed Shanghai Index(China ended lower by 1.41 percent closing at 2896.26. The Hang Seng Index(Hong Kong) ended lower by 2.86 percent to 22,678.25.

The S&P 500 e-mini futures are trading lower by 32.50 points this morning to 1258.25. The decline lower is certainly all about Japan as the Japanese economy is the third largest economy in the world. Important technical support levels have been broken this morning on all the major stock indexes and this can be seen by the sharp decline that is taking place ahead of the opening bell at the New York Stock Exchange.

Oil, gold, silver, copper, and most every other commodity is declining this morning. Oil has retreated sharply from hits 52 week high made last week at $106.95 a barrel. Oil is trading at $97.90 a barrel this morning. Libya, and various other nations in the Middle East and North Africa remain in turmoil. Should fighting escalate and an oil field become interrupted this could cause a send oil prices higher again. The United States Oil Fund(NYSE:USO) is trading lower this morning by $1.56 to $39.35 a share.

The U.S. Dollar Index is actually trading sharply higher this morning by 0.57 cents to $76.90 a share. Yesterday, the U.S. Dollar Index Index declined sharply and traded near its five month low. Generally, when the U.S. Dollar Index strengthens commodity prices will pull back.


Nicholas Santiago
InTheMoneyStocks.com
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Recs

1

Visa and Mastercard Are Bucking The Trend

March 11, 2011 – Comments (0)

Visa Inc.(NYSE:V) and Mastercard Inc.(NYSE:MA) are the leading credit card transaction and processing companies in the market. These two stocks are trading higher this morning.

Visa Inc.(NYSE:V) is trading higher on the session by 0.90 cents to $72.30 a share. Visa stock will have intra-day resistance around the $72.60 level. Should the stock rally further today the next important resistance area for the stock will be around the $73.50 area. Traders can watch for small pullbacks at both levels.

Mastercard Inc.(NYSE:MA) is trading higher by $3.19 to $246.75 a share. Mastercard stock looks to have intra-day resistance around the $247.00 area and more around $248.10. Both levels could see pullbacks.

Traders will have to listen to the news closely from the Federal Reserve regarding credit card fees that are are charged when consumers swipe their cards when making a purchase. This debate is on going by the banks.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Insurance Stocks Take A Hit

March 11, 2011 – Comments (0)

Whenever a natural disaster occurs such as the Japanese earthquake today insurance stocks will usually feel the effects. This morning many leading insurance stocks are trading sharply lower in sympathy to the insurance sector .

Progressive Corp.(NYSE:PGR) is declining lower this morning by 0.19 cents to $20.59 a share. Traders can watch the $20.40 level as important support intra-day. This stock looks to be getting sold off in sympathy to the insurance group.

American International Group Inc.(NYSE:AIG) is trading lower by 0.56 cents to $35.95 a share. This company has been in a downtrend on the charts since January 7, 2011 when it traded as high as $62.87 a share. AIG stock remains very weak at this time trading below all of its major moving averages on the daily chart. The stock will have some minor intra-day support around the $35.50 level.

Aflac Inc.(NYSE:AFL) is another insurance stock that is trading lower by $1.00 to $54.70 a share. This stock is actually bouncing off its intra-day low of $53.75 a share. AFL stock still has a lot of support around the $54.00 level which is a daily chart support area. Traders can watch for resistance around the $55.00 area and more around the gap fill level at at $55.75.


Nicholas Santaigo
InTheMoneyStocks.com

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Recs

0

Commodity Stocks Bounce

March 11, 2011 – Comments (0)

This morning a few of the leading commodity stocks are bouncing higher. The devastation in Japan will require the country to rebuild its damaged infrastructure.

Cliffs Natural Resources Inc.(NYSE:CLF) is trading higher this morning by $1.13 to $86.25 a share. Short term traders should watch for resistance around the $88.90 - $90.00 area. Should the stock rally further throughout the session the next important intra-day resistance level will be around the $90.30 level. Scalp traders can look for pullbacks around both of these levels.

United States Steel Corp.(NYSE:X) is trading higher this morning by $1.90 to $54.65 a share. This stock seems to be rebounding from a short term oversold condition on the daily charts. Traders should watch for resistance around the $55.50 and $56.00 levels. Both levels could see small pullbacks from these levels intra-day.

Southern Copper Corp.(NYSE:SCCO) is trading higher by 0.33 to $38.98 a share. Short term traders can watch the $39.50 area as an intra-day resistance level. Should Southern Copper stock rally further the $40.00 level would be the next important intra-day resistance level for the stock.



Nicholas Santiago
InTheMoneyStocks.com

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Recs

0

Pre-Market News And Views

March 11, 2011 – Comments (0)

Japan experienced a massive 8.9 magnitude earthquake on the Richter scale earlier today. The death toll is uncertain at the moment, however, a tsunami is reported to have reached other parts of Japan and Hawaii. Tsunami warning have been issued for the entire west coast of the United States. 

The Asian markets all declined by more than 1.00 percent last night. The Nikkei Index(JAPAN) closed lower by 1.72 percent. This news could effect the Asian markets into early next week as it appears a lot of damage was done to the Japanese infrastructure. Most commodity stocks are trading lower this morning. The iShares MSCI Japan Index Fund(NYSE:EWJ) is trading lower by 0.20 cents to $10.80 a share in the pre-market this morning. 

Many in the media predicted a 'Day of Rage' for Saudi Arabia today. However, the Saudi Arabian protest turned out to be a day of sleep as there are no reports of protests in Saudi Arabia today. This calm in Saudi Arabia is causing oil to decline lower today by $3.08 to $99.61 a barrel. Oil was very overbought and extended on the charts recently due to the fighting in Libya and the possible uprising in Saudi Arabia. Traders must still be cautious when it comes to oil as the Middle East is still in turmoil and other protests can flare up at anytime. The highly popular Unites States Oil Fund is trading lower by $1.15 cents to $40.28 a share before the opening bell. 

The S&P 500 market futures(ES H1) is trading lower by just 3.00 points to 1291.00. Often after a massive sell off as we saw in the markets yesterday the next trading session is a bit more subdued. We shall see if that is the case today. 



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Oil Services Stocks Get Rattled

March 10, 2011 – Comments (0)

The major oil services stocks are declining lower this morning. The highly traded Oil Services Holders Trust(NYSE:OIH) is declining lower this morning by $5.17 to $152.99 a share. The OIH will come into some strong intra-day support around the $151.50 level. Aggressive traders can look for an intra-day bounce around that level.

Halliburton Co.(NYSE:HAL) is a leading oil services stock that is declining today by $1.27 to $43.97 a share. This stock has already bounced intra-day off of its daily chart 50 moving average at $43.41. Therefore, should the stock trade down below that level again traders should watch the $43.00 area as the next important intra-day support area.



Nicholas Santiago
InTheMoneyStocks.com
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Recs

0

Broad Based Tumble, However, Here Are The Pockets Of Strength

March 10, 2011 – Comments (0)

The major stock indexes are all declining sharply lower this morning to start the day. The sell off is broad based as just about every sector in the market is selling off sharply. The only sign of strength in the market is in the U.S. Dollar Index. The U.S. Dollar has been one of the weakest currencies in the market as of late. The $77.31 level will be some short term resistance for the U.S. Dollar Index.

The other area of strength in this market today looks to be in bonds. The iShares Barclays 20+ Year Treasury Bond(NYSE:TLT) is trading higher by 0.35 cents to $90.87 a share. The move higher in bonds is not spectacular, however, it is trading higher as some fear is now in this market this morning.

Many traders and investors will watch the Market Volatility Index(VIX) for direction of the amount of fear in the market. The VIX is higher this morning by $1.62 to $21.87. The iPath S&P 500 VIX Short-Term Futures ETN(NYSE:VXX) is higher by $1.33 to $33.60 a share.

Traders can watch the airline stocks this morning as they may catch a bid due to the decline in oil. Delta Airlines Inc.(NYSE:DAL), United Continental Holdings Inc.(NYSE:UAL), and AMR Corp.(NYSE:AMR) are all trading higher.



Nicholas Santiago
InTheMoneyStocks.com  [more]

Recs

0

Pre-Market New And Views

March 10, 2011 – Comments (0)

This morning the S&P 500 e-mini futures contract(ES H1) is trading lower by 7.25 points to 1307.75. The futures have come under pressure as the Asian market tumbled last night. The highly important Shanghai Index(China) traded lower by 1.51 percent. Whenever, the leading Asian stock indexes decline sharply this will usually put selling pressure on the leading commodity stocks in the United States. This morning Cliffs Natural Resources Inc.(NYSE:CLF) which is a leading iron ore pellet producer is trading sharply lower before the opening bell. Other leading commodity stocks that are declining before the stock market opens are Freeport McMoRan Copper & Gold Inc.(NYSE:FCX), and United States Steel Corp.(NYSE:X).

Spain was downgraded by Moodys last night to Aa2 From Aa1 as banks continue to be under stress in that nation. The Euro currency is declining sharply lower this morning. The CurrencyShares Euro Trust(NYSE:FXE) is trading lower by 0.95 cents to $137.52 ahead of the opening bell at the New York Stock Exchange. Recently, Greek and Portuguese debt have become the focus of the problems in the Euro-zone and remain unsolved.

The U.S. Dollar Index is catching a bid higher today. The U.S. Dollar Index is trading higher by 0.46 cents to $77.18. It is important to note that since early June 2010 the U.S. Dollar Index has declined by 14.0 percent and is very oversold at this time. Therefore, the bounce in the U.S. Dollar Index could just be a bounce from an oversold technical position on the charts. As long as the Federal Reserve Bank continues to move forward with its quantitative easing program the U.S. Dollar Index could decline again after a small short term bounce.

Gold and silver are both declining early this morning. This move lower in the precious metals is likely caused by an overbought condition on the charts. The stronger U.S. Dollar Index is also putting pressure on gold and silver this morning.

WTI oil is trading lower today by $1.57 to $102.81 a barrel. Crude was very extended and overbought. Please use caution when it comes to oil as any increased violence in the Middle East or Saudi Arabia will cause oil to bounce right back up.




Nicholas Santiago
InTheMoneyStocks.com
  [more]

Recs

4

Copper Drops Like A Rock

March 09, 2011 – Comments (0)

Many traders and investors consider copper to be a leading indicator for the stock market. The legendary trader, Jesse Livermore, used to say that a strong copper market was a sign of a strong stock market. When copper declined sharply it was a sign a weak stock market ahead. Today, many of the leading copper stocks are trading sharply lower.

Southern Copper Corp.(NYSE:SCCO) is leading copper producer that is trading lower by 0.95 cents to $39.80 a share. This stock topped out on January 3, 2011 at $50.35 a share. This stock has now declined lower by 20.0 percent from its January high. The stock remains weak on the daily chart and may test the $38.00 level which is the next important daily chart support area. Day traders can look for intra-day support around the $39.50 area.

Freeport McMoRan Copper & Gold Inc.(NYSE:FCX) is the worlds largest copper producer. This stock is often viewed as a copper ETF because of its popularity by traders and investors. FCX stock will have some intra-day support around the $48.00 level, however, the stock remains weak on all time frames and could trade lower in the coming days.

The iPath DJ-UBS Copper TR Sub-Index ETN (NYSE:JJC) is trading lower by $1.80 to $55.79 a share. The JJC tracks the action in copper. JJC had very good daily chart support around the $56.00 level, however, that level has been breached today. The JJC is now in a bearish technical position on the daily chart. Intra-day trader can watch for support around the $55.00 level. This is an intra-day level where the JJC can see a bounce. As for the daily chart the $54.00 level is the next decent support area for JJC.



Nicholas Santiago
InTheMoneyStocks.com

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