Thursday, 28 January 2010

Market Pulse: Your source for stock, stock market, stock trades, and stocks info

Market Pulse: After last week’s end of the week sell-off, the market has done nothing this week. I heard all types of prognostications that Obama’s cracking down on the banks was going to have significant ramifications on the market on Monday morning. Yawn! The market isn’t really interested in much of anything. The market is clearly trading below the opening range of the month. A sign that is to be noted because we haven’t had a close for the month beneath the low of the opening range since June. So I’ll be watch to see if January turns out to be a significant top. There are only 2 more trading days left in the month, so it’s unlikely that the market will rally and close above. That will make it only the 2nd time since the March lows that the S&P500 finished down for the month. That would make 9 out of 11 months closing up since March. How many more months can the S&P500 close up without a significant correction? If I knew that I wouldn’t be talking to you, I would be out putting positions on. It will be interesting to see. The pundits are all looking at the recent correction and saying that is just a “little pull back”, “nothing to worry about”, “a little correction was overdue”, and other things like that. Nobody thinks it’s strange that the market is up 9 out 11 months, and that a more significant correction might be around the corner. The first 3 days of February might just hold a clue to how February is going to be. This month is done, stick a fork in it. I don’t think anything interesting is going to happen in the next two days. (I could be wrong though. You always have to consider the unexpected when dealing in the markets. You have to be prepared for a crash, pretty much every day, it seems like.) Netflix, NFLX, shot up yesterday (after hours) something like 19%. Damn, I was trying to get in there. Take a look at the charts of Blockbuster (BBI) and Netflix (NFLX) and tell me who you think is winning in that space. Prettty much a no brainer. It was coming down, just how I liked it too. I will have to rethink my entry strategy on that one. Also, I read an article about Panera Bread (PNRA) this morning. Seems like the company is doing really well despite the depression. Got my eyes on them too.

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