Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

Intra-Day Thoughts: The Markets Are Going To Have To Try Harder Than This...

...if they hope to regain their uptrend. With the DJIA up a measly 60 points (off from its intra-day high of 13,211), its clear to see that this bounce may be a bit harder than it seems. Credit worries are continuing to mount. Rising oil prices are not helping either. Even the Feds multi-billion dollar injection of funds into the economy has done little to ease investors and traders fears. Of course, it is still too early in the day to know where the market will close. Anything is possible. All I'm saying is that I'm still not impressed with the market bounce...yet.



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Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

Possible Support or Delaying the Inevitable?

I will be looking at today's close in order to get a better sense and understanding of the markets current condition. In order for the DJIA to stabilize, it needs to bounce off the 13k level and reclaim its 200 day MA in the upcoming days and weeks. Otherwise, this is just an oversold bounce with resistance (instead of support) at the the 200 day MA.



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Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

The Big Ugly Close

Todays big ugly close left the DJIA teetering right over its 200 day MA. If were going to have a bounce its going to have to happen soon. Otherwise, if we pierce the 200 day MA, we may have to actually kiss the primary uptrend goodbye. Still, despite today's strong dose of pessimissm, there were several stocks and industry groups that did rather well. Medical Product makers and Fertilizer stocks were able to do quite well. Some notable stocks in these groups include: II, and CF, MOS, POT

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Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

Back Down to the 200 Day MA...

As the market weakness continues, the indices have nowhere to go but down. The DJIA and the S&P have suffered the worst hit as they are just hovering over their 200 day MA. The NASDAQ is still in better shape (tech earnings are still top-notch), as it is still clinging to its 20 day MA. The 200 day MA's on the DJIA and the NASDAQ are currently support for the indices. Any violation of this can spell further trouble for the uptrend that the markets have been fighting to hold.

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Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

A Strong Dose of Volatility

Action junkies and risk-loving traders definitely got their fix today as the major indices took a plunge. The DJIA and the S&P eventually found support above their 20 day MA's which they successfully bounced off of. It seemed as if the selling pressure finally subsided minutes before the market close as the indices closed a slightly higher than their lows. The NASDAQ fared the best as it closed comfortably above its 10 day MA. The recent strength in the NASDAQ seems to be indicating that the institutions are parking their money in technology and medical-related stocks. While the DJIA has lost institutional money (banks have withdrawn assets from DJIA component stocks), the NASDAQ seems to still contain a healthy dose of institutional sponsorship.

Although most of my stocks took a light beating, there were several stocks that were able to hold their own. APPY, KHD, SQNM and VSEC were among some of todays stronger stocks. Even CKSW and TTG (new picks) were able to close in positive territory. SQNM was one of the top performers for today. The stock surged over 14% on strong volume.


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Market Comments Submitted by Nick at Ambitions as a Stock Trader

Submitted by My Ambitions as a Trader and Investor

After Market Check Up: DJIA creates a Pivot Point
Okay, so I didn't get to sell CPSL at 11 and I didn't get a chance to pick up more BKR at its LOD. But still, it's all good. The impressive 3 day run in APPY has already made up for both of those small mishaps. In addition, the DJIA and NASDAQ have managed to improve their chart setups and have even created pivot points. These pivot points are a bullish indication which show that the financial markets are more resilient to the current credit worries and housing slump. This current patch of market strength should make the rest of the week more interesting.


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