Archive for November, 2009

• Market Notes (11/30/09)
  Joe Fahmy, November 30th, 2009 at 5:20 pm, Comments: 0

  The past two trading days reiterates the importance of relative strength. In other words, pay attention to stocks that perform well, especially on down market days. On Friday morning, the market gapped-down aggressively after the Dubai news. However, I started to notice a number of stocks showing incredible relative strength and offering great entry points. [...]

• Market Notes (11/29/09)
  Joe Fahmy, November 29th, 2009 at 1:25 pm, Comments: 0

  It's important to keep an open mind when it comes to the market. It doesn't make sense to always be Bullish or Bearish because the market is not always in an uptrend or a downtrend. Just do your homework, look objectively at both the positive and negative signs, and invest accordingly. That being said, let’s [...]

• Market Notes (11/23/09)
  Joe Fahmy, November 23rd, 2009 at 11:21 pm, Comments: 0

  My three biggest concerns right now: low volume, narrowing leadership, and the lack of stocks "setting-up" and breaking out of sound technical bases. It doesn't necessarily mean we are forming a top, but it also doesn't inspire me to do much trading right now. Monday's rally came on pathetic volume, showing a lack of conviction [...]

• Market Notes (11/22/09)
  Joe Fahmy, November 22nd, 2009 at 4:45 pm, Comments: 0

  My apologies for the infrequent updates last week as I attended the Traders Expo in Las Vegas. I am pleased to have met some great traders from the StockTwits Network. I look forward to continuing to build strong friendships and networking with more sharp traders. On to my review of last week's market action: Overall, I feel [...]

• Market Notes (11/17/09)
  Joe Fahmy, November 17th, 2009 at 4:01 pm, Comments: 0

  As I mentioned over the weekend, a strong volume move above 2190 on the NASDAQ Composite would be very constructive for this market. We got that on Monday. My main concern is that since we started this 150 point rally on 11/3, EVERY trading day has occurred on below-average volume. However, I remain optimistic because [...]

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

  Some observations while doing my weekend stock work: 1) Big Caps: $AAPL $AMZN $GOOG $PCLN $ISRG $BIDU. Although leadership seems to be getting narrower, I believe these stocks will continue higher into the end of the year. We could possibly repeat a 2007 scenario where the NASDAQ topped in October 2007, but stocks such as [...]

• Market Notes (11/12/09)
  Joe Fahmy, November 12th, 2009 at 10:45 pm, Comments: 0

  As I mentioned in yesterday's Market Notes, the low volume rally of the past 7 days was concerning. For this recent uptrend to have any sustainability, large institutions need to participate. So far, they seem to be on the sidelines. Although Thursday's volume on the NASDAQ was higher than Wednesday's (thus making Thursday a distribution [...]

• Market Notes (11/11/09)
  Joe Fahmy, November 11th, 2009 at 8:46 pm, Comments: 0

  I always try to keep an open mind when it comes to the market. I constantly say "never get too bullish or too bearish." Just do your homework, look objectively at both the positive and negative signs, and invest accordingly. That being said, let's review what the market has shown us the past few days. [...]

• Market Notes (11/9/09)
  Joe Fahmy, November 9th, 2009 at 5:18 pm, Comments: 0

  As I mentioned in yesterday's Market Notes, I was very impressed by how well the market held up last week. I still recommended caution until the market gave us a clearer picture. Monday's "follow-through" day combined with leading stocks breaking out on strong volume currently makes me more bullish. In addition, the steady amount of [...]

• Market Notes (11/8/09)
  Joe Fahmy, November 8th, 2009 at 11:31 pm, Comments: 0

  Although I took a few days off from trading last week, I still observed the market to see how it would react after the end-of-October selloff. I must say, I am impressed at how resilient the market has held up, but unfortunately it has recovered on weak volume. Let's go over the positive and negative [...]