Traders Corner   17 comments

The S&P 500 levels to watch today:

UPSIDE: 2001 (August 25th’s high), 2005 (August 26th’s high and the all-time high), and 2011 (top of the Bollinger Bands).
LAST CLOSE: 2000.
DOWNSIDE: 1998 (August 26th’s low), 1993-1994 (2 data points), 1991 (July’s high), 1988 (August 20th’s high), 1986 (August 21st’s low), 1984 (August 22nd’s low), 1982 (August 19th’s high), 1977 (August 20th’s low), 1971-1972 (2 data points), 1968 (June’s high), 1964 (August 15th’s high), 1963 (50 day moving average), 1958 (August 18th’s low), 1955 (August 14th’s high), 1954 (20 day moving average), 1947-1948 (2 data points), 1944 (August 11th’s high), 1941 (August 15th’s low), 1927-1939 (July’s low and 9 data points), 1926 (100 day moving average), 1924 (May’s high), 1921 (August 4th’s low), 1916 (August 1st’s low), 1909-1913 (3 data points), 1904 (August 7th’s low), and 1897 (bottom of the Bollinger Bands).

S&P 500 Daily Momentum: Bullish
S&P 500 Daily Overbought/oversold: Neutral (leaning overbought)
S&P 500 Weekly Momentum: Bearish (weakening)
S&P 500 Weekly Overbought/oversold: Neutral (leaning overbought)
S&P 500 Futures: Slightly positive
Overall: The S&P 500’s bullish momentum is starting to flatten. This could indicate a bullish pause, or a reversal. On the other hand, the Bollinger Bands are still expanding, which would seem to indicate this bull has more room to run. The overbought/oversold indicators still have some bullish room left.

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17 responses to “Traders Corner

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  1. Omg – the moment just arrived that I thought would never, ever occur. KLIC has announced a share repurchase program. Recall this is a $14 stock that has over $7 of excess cash per share. I have said for a long time a catalyst to unlock value is either a dividend or share repurchase. I am not sure where the share price will go from here, but I suspect at least 5%.

  2. Marshall do you still have TUBE?

    • No bobb, I have sold every IPO stock and then watched it skyrocket.

      VJET -28%
      SCAI. +11%
      ATHM. +62%
      MBUU. +6%
      FGL. +7%
      LMNS -3%
      TWOU +42%
      KANG. +23%
      WB. +9%
      XNET. -27%
      NEP +8%
      TUBE +31%
      LOCO. +51%
      MBLY. +8%
      TTOO. +58%

      If I had just he’d a few of these for an extra month I would have made a LOT of money. I have just been very gun shy as I did so poorly on LMNS, which ironically was the only one I really stayed with and was very poor for me.

  3. sold the yge i bought yesterday pre earnings. Earnings and rev missed. 5 % loss. Really thought this Co. was turning the corner with PV sales picking up. Still have my original shares

  4. I did see that negotiations on TLM acquisition are “frozen” per the wsj. My gut exactions was to cut bait, but after I read the article, I will be holding on to my TLM. I have to say, like IPOs, my “merger” plays haven’t exactly worked well either (SIRI before TLM).

  5. Rcii is up 7.5% on an upgrade. They up up 20% now in August.

  6. sold AAPL at 100.65. bought 18 months ago for 60.74. NICE
    also sold part of my losing BBRY stake to offset gains. bought 15.96. sold 10.07. OUCH

  7. Ed, I see a much different picture on the S&P technicals. Daily momentum is turning negative, daily is definitely overbought, weekly has plenty of room to go higher. We could very well move higher. Having said that. I would expect to see some downside before moving much higher from here.

  8. Out of FEYE for plus 73 2.6%

  9. Nice move in GTAT this morning. Looks like bets are being placed on good news with the Apple announcement. Should get a big move one way or the other when that comes out. The shorts have to be a little nervous. I have one position with Friday 18.50 covered calls and one I am sitting on until we hear from Apple. If I’m called on Friday, I may buy more and wait for the news. Probably a sell on the news if it is positive.

  10. My portfolio continues to hum along this week. I am up 48 basis points today and 124 on the week. KLIc is up about 4%, RCII is up 5.6%, GNW continues to recover from its unfair beating at quarter earnings and is now 14.18. RIOM is up 3%, not sure if anyone else is holding RIOM with me, but they are up 23% this month and 73% since I added shares on May 28th.

  11. Marshall, did you notice TCMCF is up 8% today?

    We won’t mention that volume is 555 shares

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