Posts Tagged ‘EJ’

• 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 (10/21/09)
  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 [...]

• Market Notes (10/14/09)
  Joe Fahmy, October 14th, 2009 at 7:41 pm, Comments: 0

  I am going to keep tonight's Notes simple. There's an abundance of liquidity, zero inflation, zero interest rates, fund managers chasing performance, and most importantly, stocks setting up and breaking out on strong volume (i.e. stocks acting healthy). Stop over-thinking, stop being an economist, and just focus on what the market is ACTUALLY doing! As [...]

• Market Notes (10/13/09)
  Joe Fahmy, October 13th, 2009 at 9:01 pm, Comments: 0

  The NASDAQ Composite finished up +4.4% last week. Usually after an index makes a nice gain, it needs to “back and fill,” retrace, or correct a little and digest its gain. What impresses me the most is that the NASDAQ has not given ANYTHING back so far. It closed last Friday at 2139, Monday at [...]

• Market Notes (10/11/09)
  Joe Fahmy, October 11th, 2009 at 10:22 am, Comments: 0

  For those of you new to my investment blog, the most important criteria I use to judge the health of the stock market is the price action of leading stocks. While reviewing my technical, fundamental and quantitative screens this weekend, I continue to find a large number of stocks “setting up” and looking like they [...]

• The Three Ways I Use Relative Strength
  Joe Fahmy, October 8th, 2009 at 11:38 pm, Comments: 0

  Relative Strength (RS) is one of the most powerful indicators that I use to evaluate a stock. It is a proprietary ranking number found in Investor's Business Daily or in the Daily Graphs Software product. My definition is simple: “relative” to the market, stocks showing better “strength.” Here is the official Investor’s Business Daily definition: The [...]

• Market Notes (10/7/09)
  Joe Fahmy, October 7th, 2009 at 5:43 pm, Comments: 0

  I view Wednesday’s stock market action as constructive and healthy. Earlier this week, the NASDAQ Composite nicely bounced off its 50-day moving average. I figured it would meet some resistance on the way back up near its 20-day (around 2104). I was pleased to see the market not only hold up well on light volume [...]

• Market Notes (10/6/09)
  Joe Fahmy, October 7th, 2009 at 1:57 am, Comments: 0

  As I mentioned in yesterday’s Market Notes, the only thing I didn’t like about Monday’s action was the lack of volume in the indexes and individual stocks. However, it wasn’t a major concern for two reasons: 1) every market selloff over the past 3 months began its recovery on light volume. For example, the pullbacks [...]

• Market Notes (10/5/09)
  Joe Fahmy, October 5th, 2009 at 7:44 pm, Comments: 0

  I am going to try and get in the habit of writing “weeknight” Market Notes to summarize the trading day and give some ideas for the following day. As I mentioned in yesterday’s Market Notes, I came into Monday cautious and wanted to see the market prove itself. A positive sign was that buyers stepped in [...]