After Tuesday’s close, the US market has extended itself into overbought territory, with the buyers retaining control of direction. Looking at the chart for SPY (SPY), we can see price sitting just above a significant support level. After today’s controlled buying, the proximity of support gives traders relatively clear levels for entries and placement of stops. The McClellan Oscill...
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"I ♥ risk". That seems to be the message that Dr. Market is conveying thus far in 2009. The S&P 500 has already exceeded its maximum gain of 2008, when it briefly traded up 0.23% on the year on the first day of trading before closing down 1.4% on the day. Volumes remain modest thus far as many traders still seem to be wiping the sleep from their eyes. Nevertheless, the fact...
The United States has followed a disturbing pattern in forming energy policy. Most of the time we focus on fossil fuels. Alternative energy only gets attention when oil prices are high. With last year's oil price spike still fresh, there is a just a chance that things will be different this time.The incoming Obama Administration has a commitment to alternative energy so...
Last night I posted a mystery chart (FDX) that had a range contraction (RC) setup coming into today. FDX did not exhibit intra-day price action that was worth trading today. However, FDX is still a good RC setup (see daily chart below) and will remain on my focus list. In fact, FDX currently has one of the lowest RC indicator values across the stocks that I scan.Other charts from my daily RC li...
Ahead of CES, investors flocked to the options market to take positions in companies that specialize in everything from networking to wireless communication devices.
La Jolla Pharmaceutical Company (NASDAQ: LJPC) has been more than just a troubled biotech. It has even been considered an at-risk entity by some traders after it had been down more than 90% at one point, but the company may have just gotten a much needed lifeline. It has signed a development and commercialization pact with BioMarin Pharmaceutical Inc. (NASDAQ: BMRN) for its Riquent®. This is L...
Another day, another rally, and perhaps a few more believers. It’s premature to term this recent surge as much more than an early-year allocation flurry, bolstered by the hope that perhaps the economic outlook will improve a bit more quickly than expected, but it isn’t a bad thing. “The better tone in the chips and selling in pharmaceutical and defensive names maybe suggests ...
Traders are betting on sharp declines in interbank lending rates over the next weeks and months
Motorola unveils recyclable phone, boosts volatility as demand for call options surges
Tue, Jan 6, 1:16 PM ET
Today’s tickers: MOT, RIO, ICE, ERTS & CHK MOT – Motorola Inc. – In an attempt to revamp its product line-up and find a successor to an unsuccessful Razr, Motorola just announced a new cellphone operable over third-generation networks to be made available in North America, Latin America and Asia. The phone will be made of recyclable plastic bottles and will be available th...
Motorola Inc. (MOT) – In an attempt to revamp its product line-up and find a successor to an unsuccessful Razr, Motorola just announced a new cellphone operable over third-generation networks to be made available in North America, Latin America and Asia. The phone will be made of recyclable plastic bottles and will be available through TMobile. Motorola came under fire for failing to stem...