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Tel: 407.377.PARK (7275)
Email: Info [@] 50Park.com

7-Week Rally Ends; Market In A Correction

Friday, August 27, 2010
Stock Market Commentary:

The seven week rally that began on the July 7, 2010 follow-through day (FTD) ended on Tuesday after the latest round of dismal economic data dragged stocks lower. For the week, stocks ended lower but near their highs after a strong advance on Friday. Friday’s volume totals ended higher on the NYSE and the Nasdaq exchange compared to Thursday’s levels which suggested that large institutions were aggressively buying stocks. Advancers trumped decliners by over a 4-to-1 ratio on the NYSE and on the Nasdaq exchange. New 52-week highs outnumbered new 52-week lows on the NYSE but trailed new lows on the Nasdaq exchange. There were 21 high-ranked companies from the CANSLIM.net Leaders List made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, higher than the 10 issues that appeared on the prior session.

Monday & Tuesday’s Action; Stocks Fall on Dismal Economic Data:

The major averages negatively reversed (opened higher but closed lower) on Monday after encountering resistance near their respective 50-day moving average (DMA) lines. Stocks slid on Tuesday after existing home sales tanked, the 10-year Treasury yield plunged to the lowest level in 17 months, and the yen rose to the highest level versus the dollar since 1995. Overnight, stocks in Asia and Europe fell after the yen jumped to a 15-year high against the dollar and Treasury rates slid to their lowest level since the March 2009 bottom. This put pressure on US futures and set the stage for a weak open. The “big” headline of the day occurred when the National Association of Realtors said existing home sales slid by -27.2% to a 3.83 million annual rate in April. The outsized decline was attributed to a high unemployment rate and slowing economic data. This was also the lowest reading in a decade and lower than the worst estimate on Wall Street.

Wednesday-Friday’s Action; Day Count Reset:

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Stocks, Euro & Commodities Negatively Reverse As Dollar Soars!

Tuesday, May 18 ,2010
Market Commentary: 

Stocks negatively reversed, opened higher but closed lower, on Tuesday after the Euro plunged to a fresh four year low against the US dollar. Volume totals were reported higher on the Nasdaq and the NYSE compared to Monday’s total which was not an encouraging sign. Decliners trumped advancers by about a 3-to-1 ratio on the NYSE and the Nasdaq exchange. New 52-week highs outnumbered new 52-week lows on both major exchanges. There were 15 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, higher than the 7 issues that appeared on the prior session.

Germany Bans Naked Short Selling:

The major averages opened higher but quickly turned tail after the euro plunged to a fresh four year low against the greenback. The big news of the day came out of Germany. Germany placed a temporary ban on naked short selling of euro bonds, banks, and insurers in an attempt to curb the month long decline and ease contagion woes. Germany’s BaFin financial-services regulator said that the plan will be effective midnight and remain in effect until March 31, 2011. This sent the euro plunging below $1.22 for the first time since April 17, 2006. The stronger dollar sent a slew of dollar denominated assets (mainly stocks and commodities) lower. Crude oil negatively reversed and fell -3.5% and closed below $70 a barrel for the first time in months which has negative ramifications on economy.

Market Action- In A Correction:

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Day 4: Stocks End Lower

Wednesday, February 10, 2010
Market Commentary:

Stocks closed lower on speculation that the European Union will not bailout Greece. Volume was reported lower than the prior session on the NYSE and the Nasdaq exchange. Decliners led advancers by a small margin on the NYSE and the Nasdaq exchange. There were 6 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, down from the 9 issues that appeared on the prior session. New 52-week highs outnumbered new 52-week lows on the NYSE and matched new lows on the Nasdaq exchange.

Greece & Bernanke:

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Latest Media Quote- Dow Jones Newswire

Latest Media Quote:
Mr. Sarhan was quoted by Dow Jones Newswire on Friday 1.15.10. The article was picked up by several major news outlets. Here are a few:
Wall Street Journal (WSJ.com)http://online.wsj.com/article/BT-CO-20100115-707328.html
Investor’s Business Daily (Investors.com)http://www.investors.com/NewsAndAnalysis/Article.aspx?id=106888049&source=Newsfeed&Ntt=
Market Watch: http://www.marketwatch.com/story/us-stocks-open-lower-as-financials-weigh-djia-off-25-2010-01-15

US Stocks Open Lower As Financials Weigh; DJIA Off 25

NEW YORK (MarketWatch) — U.S. stocks traded lower Friday despite Intel and J.P. Morgan Chase delivering fourth-quarter earnings above analysts’ estimates, as J.P. Morgan’s revenue missed expectations and its chief executive offered cautioning words.
Stock losses accelerated after a gauge of consumer confidence proved disappointing.The Dow Jones Industrial Average (INDU) fell 89 points, or 0.8%, to 10,621.40 in early trade.
The measure’s financial components led its decliners, with Bank of America (BAC) off 2.1% and J.P. Morgan (JPM) down 1.6%. J.P. Morgan’s fourth-quarter earnings quadrupled, but its revenue came in below analysts’ estimates and Chief Executive James Dimon warned the banking giant is cautious about the future, noting “consumer-credit costs remain high, and weak employment and home prices persist.” See J.P. Morgan story.

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Stocks Rally On Disconcerting Economic Data

Thursday, January, 14, 2010
Market Commentary:

Stocks edged higher after weaker than expected economic data was released. Volume was reported slightly higher than the prior session’s totals on the NYSE and about even on the Nasdaq exchange, which suggested large institutions were buying stocks. Advancers led decliners by nearly a 11-to-8 ratio on the NYSE and by a 16-to-11 ratio on the Nasdaq exchange. There were 28 high-ranked companies from the CANSLIM.net Leaders List that made a new 52-week high and appeared on the CANSLIM.net BreakOuts Page, higher than the total of 20 issues that appeared on the prior session. New 52-week highs still solidly outnumbered new 52-week lows on the NYSE and on the Nasdaq exchange.
ECB, Jobless Claims & Retail Sales:

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