Stock Market News & Stocks to Watch from StraightStocks » Rally

Stock Market Corrections Are Beautiful— And Necessary

Steve Selengut — Thu, 16 Apr 2009 13:00:30 +0000

Every correction is the same, a normal downturn in one or more of the markets where we invest. There has never been a correction that has not proven to be an investment opportunity. You can be confident that governments around the world are not going to allow another Great Depression “on their [...]

Investment Grade Value Stocks At Ten Year Lows

Steve Selengut — Fri, 10 Oct 2008 01:46:04 +0000

There has never been a correction that has not proven to be an investment opportunity. While everything is down in price, there is actually less to worry about than when prices are historically high. More money has been lost by people who bought into last year’s markets than by those who will [...]

Stock Market Meltdown – Watching Rome Burn

Steve Selengut — Wed, 24 Sep 2008 16:47:19 +0000

Both presidential candidates want to crucify SEC Chairman Cox for failing to control our creative financial institutions. But rumor has it that Congress specifically excluded the devilish derivatives from SEC purview. Let’s fire the right bunch of “poips” for a change! Scary markets are brought about by many factors, some normal, and [...]

Bookkeeping: Starting Ultra Financial (UYG)

Trader Mark — Tue, 01 Jul 2008 18:46:00 +0000

Impressive bounce off that 1260 level on the S&P. Like a magnet the market bounced to S&P 1275.... (thanks PPT) and away we go to 1280s. Reader Shax is happy and smug somewhere in Asia with his 100% long exposure. I just cannot see a break t...

Hess Corporation (HES)

Steve Patterson — Sun, 29 Jun 2008 15:00:00 +0000

Not quite at a 52 week high, Hess Corporation is a New York based explorer, purchaser, and developer of oil and natural gas. The company’s stock is a decent buy from the normal gauges that I study. The industry is a little weak with refining margins remaining tight. But the company could break out of a chart pattern at $130 and rally on its very bullish earnings expectations.

Asian Markets finally move Upward

Stockmasters Staff — Thu, 26 Jun 2008 02:31:11 +0000

Let's rally come tomorrow, as Kramer would say 'gitty up'. Thanks to the relatively 'good' news from the Fed Asian stocks jumped Thursday for the first time in six days. The Fed said risks to U.S. growth have diminished, however those calming words can't help Michael Richards' career.

Let’s Rally come Monday, go Saudi Arabia

Stockmasters Staff — Mon, 23 Jun 2008 00:16:03 +0000

Finally some good news, Saudi Arabia is ready to pump more than 9.7 million barrels per day (bpd) of oil for the rest of this year if there is demand, and could add an extra 2.5 million bpd of capacity above a current plan to reach 12.5 million bpd by the end of next year, Oil Minister Ali al-Naimi said at an emergency meeting of oil producing/consuming nations in Jeddah on Sunday.

Financials Headed For New Lows, Stocks Lack Buying Interest

Market Speculator — Thu, 12 Jun 2008 11:09:29 +0000

Financials continue to feel max pain as major banks continue to be hammered by selling. The exotic forms of investment continue to haunt those firms who were careless and did not handle risk properly. Selling has spread throughout the rest of the market as Crude Oil prices race higher. We are also seeing Grains and [...]

Running In Place, Stocks Fail to Gain Any Ground

Market Speculator — Wed, 11 Jun 2008 10:45:47 +0000

Monday the NASDAQ undercut its most recent rally attempt’s lows reseting our confirmation rally. Tuesday’s action failed to re-ignite a new rally attempt. Volume was on the light side as NASDAQ volume fell roughly 2% while on the NYSE we saw higher volume. This market continues its “no man’s land” path. Overall, this market does [...]

Wednesday Randoms

Roger Nusbaum — Thu, 05 Jun 2008 12:16:00 +0000

First, I have not done this properly, thank you for the various suggestions left toward the farmland project I have been working on. I have not really thanked you all properly.

This is has been a peculiarly busy week, not trading but with every other aspect of my life, so just a few stray items to chew on today.

Here is a link to a lengthy speech by Dennis Gartman. Despite how long it is it does read very quickly. One thing he said, which I cannot vouch for but is interesting if correct "In the last 30 centuries, China has been the dominant economy in the world for 28 of them. It’s just a return to the mean as China now becomes the dominant demand-oriented society in the world." I don't doubt the general idea I just don't know about 28 out of 30.

Mebane left a couple of timber products that trade in the UK which lead to my finding a couple of other timber names;

Great Southern Limited GTP.AX and GSPLF.PK
Sino Forest TRE.TO and SNOFF.PK

Do your own homework.

The dollar got some bounce against the majors from Benanke's jawboning as he broke a long standing, was it a rule or a policy, about talking about the greenback.

One thought I had right away, that I started to see posted in a couple of places was "just how bad is it that he is talking up the dollar?" Is there risk of $2.00 to buy a euro as I heard one commentator say a couple of days ago? Since late 2000 the euro has almost doubled against the greenback. Part of that big move was the euro selling down too much in the early days.

In roughly the same time frame the dollar has dropped by 40% against GBP. The drop against the swissi has also been around 40% while the loonie has been more like 60%.

I tend to think that most of the losses for the dollar are already in against the majors. This is not a call for a rally but more like there is not another 40% to come out against the pound. Where I think bigger currency gains can be had is in some of the the lesser followed currencies. This might mean second tier crosses to some extent, some of which are accessible, and also some in their own world countries.

There will be quite a few countries in Europe, Asia and Latam that are going to ascend in the world's pecking order which will strengthen the currencies of these countries. Many of them are hard to access for now but will get easier. Currency ETFs have generally been a big hit so we can expect more of them even if we start to see regional or theme baskets of currencies, these could work too. We'll have to stay tuned.

Financials Weigh Heavily on Stocks as the NASDAQ Rockets Higher

Market Speculator — Thu, 05 Jun 2008 10:48:37 +0000

Big Cap stocks along with financials are weighing on the S&P 500, Industrials, and NYSE composite index. On the other side, the NASDAQ enjoyed gains throughout much of the day despite stumbling into the close. Crude oil closed slightly above $122 a barrel helping out stocks. However, the nasty action being seen on the large [...]

Nikkei Weekly Outlook: Testing Dubious Highs (EWJ)

Steven Towns — Sun, 01 Jun 2008 22:40:34 +0000

Last week’s question of resiliency or reluctance at 14,000 for the Nikkei 225 Stock Average was answered, somewhat predictably, with another late-week rally. The Nikkei ended the week higher by 2.3% to 14,338.54 and the broader TOPIX, which rose by the same amount, recouped the 1,400-level (1,408.14) for the first time since January 10th. This week, [...]

Strong Market Has Many Amateur Investors Confused; There Are Way Too Many Bullish Charts For Us To Breakdown

Joshua Hayes — Fri, 30 May 2008 05:32:23 +0000

Some people are making this way harder than it is when it comes to making money. I make it very clear when I am going very long and when I am only buying a few to a hundred shares of something. A newbie will not know this but anyone with at least a few months [...]

Charts and Questions

Brian Shannon — Tue, 27 May 2008 16:41:00 +0000

The Qs are stabilizing better than the SPY, but the declining 5DMA offered resistance on the first rally attempt.

Adam from the Daily Options Report came up with a list of QUESTIONS after reading my book.

What A Difference One Week Makes; Leading Stocks Signal That There May Be More Work To Do Before A Real Strong Rally Can Ever Take Hold

Joshua Hayes — Sat, 24 May 2008 21:44:32 +0000

There is no doubt that I am suffering my WORST Multiple Sclerosis attack to date. Since Saturday I have basically been bed ridden and RIGHT OFF THE BAT I want to apologies if any of this is a little hard to follow because I feel like trash. I am not sure if this will effect [...]

Oil Rally

Brian Shannon — Thu, 22 May 2008 13:53:00 +0000

Picking tops is a fools game. Short sellers have been crushed during this oil rally and the trend remains higher. The chart below suggests a POTENTIAL level where this market may find some selling, just below 135. Longs should have tight stops.

Global stock markets – return and valuation scorecard

Prieur du Plessis — Fri, 09 May 2008 06:13:11 +0000

Global stock markets have experienced a relatively strong recovery since the middle of March. Although markets in general are still well below previous highs, it makes for interesting reading to reflect on the extent of the correction and subsequent ra...

30 Minute Charts

Brian Shannon — Wed, 07 May 2008 17:14:00 +0000

of the SPY show a lower high and some resistance near 49.25 in the Qs. Yesterday's rally has lost momentum and it may signal a need for more sideways action to digest the gains of the last month.

Bullish Percents getting a little toasty

Declan Fallon — Wed, 07 May 2008 07:45:00 +0000

Although not of immediate concern, some of the bullish percents are about to enter bear market (but not bull market) top territory. If January lows represent the start of a bear market then these breadth indicators should top soon. If the current rally is a continuation of the cyclical bull market then there is room for another 15-20% of gain (perhaps as much as 50% for the Nasdaq Bullish Percents).

How this impacts on the market remains to be seen, but the likely outcome would be a negative divergence between breadth indicators and the market; indices make new highs as bullish percents fall. Time will tell.

I'm traveling to D.C. so there will be no update tomorrow. INS appointment Friday.

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