Traders Corner   6 comments

No news here folks. Until we get a bigger move in the markets than we have had over the past week, the technicals will continue to look about the same every day. Even the S&P 500 futures are flat this morning, so it looks like we are in a holding pattern pending the FOMC announcement tomorrow.

The S&P 500 levels to watch today:

UPSIDE: 1764 (October 28th’s high and the all-time high), and 1780 (top of the Bollinger Bands).
LAST CLOSE: 1762.
DOWNSIDE: 1759 (2 data points), 1757 (October 28th’s low), 1752-1753 (3 data points), 1745-1747 (4 data points), 1740 (2 data points), 1735 (October 18th’s low), 1733 (October 17th’s high), 1729 (September’s high), 1721 (October 16th’s high), 1714 (October 17th’s low), 1713 (20 day moving average), 1711 (2 data points), 1709 (August’s high), 1703 (October 11th’s high), 1700 (October 16th’s low), 1698 (July’s high), 1691-1696 (7 data points), 1689 (50 day moving average), 1687-1688 (2 data points and May’s high), 1680-1682 (2 data points), 1676 (October 8th’s high), 1674 (October 7th’s low), 1670 (October 3rd’s low), 1662 (October 9th’s high), 1660 (October 10th’s low), 1654-1655 (October 8th’s low and June’s high), and 1646 (October 9th’s low and the bottom of the Bollinger Bands).

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Posted October 29, 2013 by edmcgon in Daytrading, Investing, Market Analysis

6 responses to “Traders Corner

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  1. Bought IBM and CSCO today for my kids college funds. This is in the do not touch until they are in college category. I started using individual stocks as opposed to mutual funds and ETFs back in 2009 with an extremely long term approach. The results have been fabulous.

    2009 tranche +180%
    2010 tranche +96%
    2011 tranche +58%
    2012 first tranche +126%
    2012 second tranche +95%
    2013 first tranche +73%

    I have no aspirations of IBM and CSCO matching those figures. There have been some very mis priced securities post the 2008 crash and most of those seem to me to be gone. But these results illustrate that if you simply shut out the noise and do some research and buy the very best stock for your kids college accounts with a LT view, you can be successful.

    • Well played Marshall! And I agree completely with your analysis.

    • Marshall, Good numbers!!! I have cad banks mutual fund in my kids account and they are doing pretty good so far but nothing close to yours.

      Would Cyou be a good buy now?

      • Lynn, I will be considering CYOU in mid November. I really need to read their earnings call transcript (if it exists). By pretty much any metric, they are phenomenally cheap. The open question is whether they can retain their earnings power post the rollout of the new games. So there is some downside risk, we all need to be aware of that. I have not made my decision yet. I doubt there is a big rush.

      • Thank you for your response. I bought some AWRE at 5.26 today.

  2. I see where GNW reported earnings and are trading down. I think the big issue is they lost money in US mortgage segment and most people (including me) thought that had turned the corner. Still, they have a book value over $28 a share. Some of that will undoubtedly evaporate as interest rates go up. Recall BV dropped in q2 from 32.90 to 29.76 when interest rates spiked. That was about a 100 basis point move and we probably have two such moves left. So GNW adjusted book value is probably closer to $23 when interest rates finally get back to “normal”. Of course their earnings power may increase as well as new money can be invested at higher rates. Not a stock for the weak of stomach.

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