Archive for October, 2009

• Market Notes (10/29/09)
  Joe Fahmy, October 29th, 2009 at 11:37 pm, Comments: 0

  I never like getting too bullish or too bearish when it comes to the market. I prefer to keep an open mind. This especially applies to the current market because I think it is important to consider both sides right now. One possibility is that Monday-Wednesday of this week was one big shakeout before we begin a [...]

• Market Notes (10/28/09)
  Joe Fahmy, October 28th, 2009 at 11:15 pm, Comments: 0

  Two very critical things to pay attention to EVERY day: the volume of the major indexes (because this tells us what the big institutions are doing) and the price action of leading stocks (because if you can't make money in the leaders, you will have trouble making money in the market overall). One has to [...]

• Market Notes (10/27/09)
  Joe Fahmy, October 27th, 2009 at 2:35 pm, Comments: 0

  As I mentioned in recent Market Notes, I continue to recommend caution for two main reasons: 1) Too much recent distribution (heavy volume institutional selling) and 2) Many leadership stocks are breaking down below key support levels. I am not a fan of making predictions as to how long this correction will last. I simply [...]

• Market Notes (10/26/09)
  Joe Fahmy, October 26th, 2009 at 8:51 pm, Comments: 0

  I still recommend keeping a cautious stance until the market shows more signs of health. The NASDAQ was down on lighter volume Monday, but the NYSE Composite and S&P 500 sold off on heavier volume. Overall, the Big Caps continue to amaze and hold up well, however they could come under some pressure on Tuesday because [...]

• Market Notes (10/25/09)
  Joe Fahmy, October 25th, 2009 at 3:54 pm, Comments: 0

  The market is giving mixed signals right now. The Big Cap growth stocks are breaking out on strong volume, however, the NASDAQ Composite has recently experienced several days of distribution (professional selling). I still feel the market is healthy overall, but as I mentioned last week, it is worth being somewhat cautious in case we [...]

• Market Notes (10/22/09)
  Joe Fahmy, October 22nd, 2009 at 7:59 pm, Comments: 0

  Thursday's market action was very positive. Although the volume was not higher than Wednesday's, it was still above average on most of the major indexes. More importantly, the Big Cap growth stocks continue to act well $BIDU $AMZN $AAPL $GOOG $PCLN $GS $MS. Even if you do not trade these stocks, observing their price action [...]

• Market Notes (10/21/09)
  Joe Fahmy, October 21st, 2009 at 10:46 pm, Comments: 0

  As I mentioned in yesterday's Market Notes, I noticed some recent "stalling" action and was not surprised to see the market pull back on Wednesday. Unfortunately, when the market decides to correct, it never seems orderly. It tends to be quick, decisive, or even outright nasty, and it usually can erase 3 or 4 days of gains [...]

• Market Notes (10/20/09)
  Joe Fahmy, October 20th, 2009 at 11:29 pm, Comments: 0

  Although I noticed some stalling today, the action of the Big Cap growth stocks keep me positive on this market: $APPL broke out on strong volume, $PCLN made a new high, $GOOG rallied back on decent volume (a sign of support), $AMZN $GS and $BIDU held up well. In addition, all the major indexes are [...]

• Trading Stocks Over Earnings
  Joe Fahmy, October 18th, 2009 at 7:57 pm, Comments: 0

  For current trading ideas, see my Market Notes from 10/15/09 (click here). In Jack Schwager’s Market Wizards, one of my favorite interviews is with Paul Tudor Jones. I highly recommend reading it because Jones has all the qualities of a successful trader: confidence, flexibility, intensity, emotional control, lack of ego, ability to cut losses, and [...]

• Market Notes (10/15/09)
  Joe Fahmy, October 15th, 2009 at 11:12 pm, Comments: 0

  Stocks I am watching for possible breakouts soon (followed by some quick notes, so please excuse the grammar): $QSII: The chart is getting excruciatingly tight the past few days, a sign that the sellers are drying up. Medical software sector is strong. Approx. 30% of the stock's float is short, could fuel some upside above [...]