Monthly Archives: December 2008
Currently on Holidays
| December 22, 2008 | Posted by admin under Day Trading Ideas, Site Info, Stock Market Analysis |
I will be gone on holidays until just after New Years. For this reason I will not be posting everyday, although I will be posting if significant levels are approached. Have a great holiday season. Cory Mitchell
Day Trading for Dec. 19
| December 19, 2008 | Posted by admin under Day Trading Ideas |
On Thursday the SPY was down $1.70 to close at 89.29 The market is biased towards the downside currently as the market pushed up to the test the 92.50 on the SPY and is now in retreat. If the market heads lower expect support at 88.50, 88, just above 86. If the market moves higher…
Day Trading for Dec.18
| December 18, 2008 | Posted by admin under Day Trading Ideas |
The following are the support and resistance levels for the SPY for Dec. 18 Resistance Levels: 93.00, 92.43, 92.00 Support: 90.80, 90.40, 90.00, 89.20
9000 Holds
| December 17, 2008 | Posted by admin under Stock Market Analysis |
The 9000 level on the DJIA held on Wednesday. Volume was inline with recent activity and RSI retreated off the highs. A move higher is still less likely than a move back down. IF, 9000 is penetrated to the upside expect resistance at 9200 and 9700. Support on the downside is around 8300 with more…
Will the Range Continue?
| December 17, 2008 | Posted by admin under Stock Market Analysis |
With a strong push upwards on Tuesday we are going to re-test the 9000 level on the DJIA for a fourth time. If 9000 is moved through expect resistance to be seen by 9200. If this level is broken there is no significant resistance till the 9700 level. Above this, there is resistance at 10,000…
Narrower range, and no “V” bottom
| December 6, 2008 | Posted by admin under Stock Market Analysis |
The lack of conviction on rallies shows that the stock market is not likely to make a v-bottom, which most value investors are looking for. Value investors look at earnings, often on a 5 year time period, and compare them to current earning. This can give the illusion that prices are cheap by recent historic…
Slip and Slide
| December 1, 2008 | Posted by admin under Stock Market Analysis |
I like (sarcasm) how the general media describes the days action only by what is happening that day. They look at the drop and try to explain it in every way possible. Thus we have a news industry that always has something to talk about because they can say anything and then the next day…
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