1:20pm (EST) The bears have used a bevy of negative news to push the market down to support levels once again. Oil, China, Spain, and unemployment claims are the major negative headlines that led to a big gap down at the open which is where we have spent much ofRead more
Market Turns Red, Green Mountain Gets Green Light
Dollar Strengthens, Futures Lower
9:00am (EST) All eyes were on the Fed Tuesday afternoon as the bulls were trying to extend their rally while the bears were hoping for a miracle. Like a broken record, the Federal Open Market Committee (FOMC) once again said it would maintain interest rates at their current record lowsRead more
MomentumOptionsTrading.com Weekly Wrap for 5/31/10
Smoke-N-Mirrors Can't Save Bulls
Well, Well, Well, Look At Moody's (MCO)
1:00pm (EST) All pun is intended from today’s title to Moody’s (MCO, $22.20, up $0.43) since the company received a “Wells Notice” from the SEC on Monday. Shares fell 7% yesterday but have bounced back a little today as the SEC plans an administrative review of Moody’s ratings procedures. Finally! Read more
Bulls Hold Key Support Levels
9:05am (EST) The volatility continued on Wednesday as debt worries from overseas continued to be the market’s main focal point. Things really looked ugly before the open as futures were down significantly and the wave of riots in Greece were being shown on every news channel. No need to rehash the drama that isRead more
Moody’s Sours Bulls Mood
New U.S. Home Sales Rise
11:10am (EST) We were betting on a good housing number this morning and we got it. The Commerce Department reported sales rose 6.2% to a seasonally adjusted annual rate of 430,000 from an upwardly revised 405,000 in September. Wall Street had expected a number of 410,000. The surge in sales was driven mostly by aRead more
A123 Systems Jumps 17%
Bulls Fighting Back
12:45pm (EST) The market is has come off its morning lows but is still in negative territory for the day. The China news really put a damper on yesterday’s rally. The Chinese banks were pressured by concerns of capital-raises and some regulators want higher capital ratios. As a result, theRead more