Tag: Mid-Day Report

Yesterday Provided A Huge Clue To The Market

Posted on by The INO.com Team

The market action yesterday in the major indices and many other markets has to be viewed as negative. The major indices all created what are called bearish engulfing patterns.

Bearish engulfing patterns occur when the market opens higher than the previous day's close and then closes below the low of the previous day. The main body of the candle totally engulfs the body of the previous candle. I will visually explain this phenomenon in today's video update. If you are interested in candlestick charts, I have a PDF titled, "17 Money Making Candlestick Formations." You can download the PDF here.

Should the indices closed lower than the close we saw on Thursday, it would confirm a top in the market and indicate further weakness.

I may be sounding like a broken record, but the reality is, December has turned out to be an extraordinarily volatile month. Historically, December tends to be choppy and volatile, but this year is proven to be the granddaddy of them all. Continue reading "Yesterday Provided A Huge Clue To The Market" →

A Santa Claus Rally Or Will The Grinch Steal December?

Posted on by The INO.com Team

The massive equity market rally on Friday was driven by short covering and a jobs report that was more favorable than the market expected. This week is going to be a battleground between the bulls and the bears and is going to be a very important week, in my opinion. Are the markets going to continue last Friday's strengths or are we going to see a two-way trading market with a Grinch-like ending for December?

Since the beginning of December, I have been warning investors to be cautious as this month tends to be a difficult and volatile month because of the holidays. Not only do investors have the market to worry about, but also the threat of terrorism which I think is in the back of everyone's mind here and in Europe. Continue reading "A Santa Claus Rally Or Will The Grinch Steal December?" →

Let's Go Cruising

Posted on by The INO.com Team

Now that we are in the month of December and the weather is beginning to turn colder, many folks may be thinking of taking a Caribbean cruise this winter. With that in mind, I thought I would look at three cruise line stocks and see whether or not it's worth taking a flyer on these stocks.

I will be looking at Carnival Corporation (NYSE:CCL), Norwegian Cruise Line Holdings Ltd. (NASDAQ:NCLH), and Royal Caribbean Cruises Ltd. (NYSE:RCL). Now before you rush out to book your winter cruise, I want to share with you what I believe to be important elements for each of the stocks. That way you can enjoy your cruise even more and hopefully with good timing your cruise will be paid for. Continue reading "Let's Go Cruising" →

Big Moves Can Start When You Least Expect Them

Posted on by The INO.com Team

Now that the Thanksgiving holiday is over and we're entering December, traders should take extra care. Historically markets can move rather dramatically in December as trading volume thins out when traders start closing down their trading mindset and move out of the markets and into holiday mode. You do not want to start swinging for the fences to try to make your year in December, the odds are against you.

In addition to looking at the markets in general today, I'm going to take an in-depth look at the gold market. Everyone seems to be bearish on gold and what I have noticed over my trading career is that when everyone feels the same way about a market and is on one side of the trade, watch out!

That is the way the mood is right now for gold and there could be a sharp reversal as the shorts, that is the folks who sold gold short hoping to buy it back at a lower price, scramble to cover (buy back) their short positions. Continue reading "Big Moves Can Start When You Least Expect Them" →

UPDATE: 12 Stocks Making New 52-Week Highs

Posted on by The INO.com Team

I wanted to do this update to share with you exactly what would have happened had you followed everything I said in last Friday’s video.

One of the important elements to look for when a stock is making a 52-week high is that it closes very close to its highs for the day. An example of this would be Home Depot, which closed very close to its highs last Friday. That's the type of stock you should be looking for to go home long over the weekend.

Of the 12 stocks that I showcased last Friday, only three made the cut and matched that criteria and they are, Alphabet Inc., Home Depot and the Goodyear Tire & Rubber Company.

Let's now look at those stocks individually and how they closed last Friday and opened today. Continue reading "UPDATE: 12 Stocks Making New 52-Week Highs" →