Stocks were hit hard from the onset, even leaders found themselves being sold. Ben Bernanke was testifying on the hill while traders were dumping stocks. Selling accelerated as the day wore on but were able to find footing prior to lunch time. Stocks then were hit hard after 2pm hitting new lows but support was able to come in. Stocks once again were able to avoid a nasty distribution day if the NASDAQ had gone out on its lows. This market is once again proving there is an underlying bid to the market.

Two key levels were held today and an important moving average. The NASDAQ was able to hold 1750 which happens to be its 200 day moving average while the S&P500 was able to hold a psychological level of 900. Holding the 200dma is very important level for the …

Last month I wrote an article titled Bears Vs Bulls: High Short Interest Stocks. These are stocks that have a positive 52 week gain and short interest between 30-60%. Let’s take a look and see if they performed the way we thought they would. Priceline.com (PCLN) Stockmasters recommendation: Short The Masters were all over this one. Priceline has fallen from $125.69 to $109.55 in the last month – the dark side of the force has taken over, and the 60% short interest in the stock is winning the battle. ...

It is always amusing to see the end of the day gain or loss in the indexes, and how it sometimes hides the wild action of the day. Today was one of those days - we gapped down (bearish), rallied from what appeared to be a test of support (bullish), gave that all up and tested new lows - 1260 (bearish), and then reversed and rallied to the highs of the day (bullish). For all that action and headache, it just took us back to right near where we closed yesterday. But it scared and/or emboldened traders multiple times, in completely different directions. Absolutely nuts - as they say in bear markets neither bulls nor bears have an easy time making money (the strongest rallies are usually contained within bear markets, but they are sudden and out of the blue).Here is a ...

First off I want to thank everyone who dealt with my major problems of heat that I was having due to my MS attacks. There is nothing I can do to control them. Luckily for me they are over and hopefully I can get back to normal. Along, with my chat room, which has been acting funny. Chatblazer is a funny program. Anyways, after Wednesday’s market session, I must say that the potential fear that I had about possibly losing the nice charts have abated, for now. I did take some profits to lock in some stocks and not lose all gains on 5/21 just to play it safe in case the market was going to fail right at the 200 DMAs. Well the good news, so far, is that initial wall was hit, that was the end of the selling. I am ...