Bryan Leighton's Blog – March 2011 Archive (159)

Trade Lesson: Patience Is a Position

The major stock indexes are trading basically unchanged today after some early morning volatility. Investors and traders alike seem to be waiting on the highly anticipated government job report that will be out tomorrow morning at 8:30 am EST. Today the SPDR Dow Jones Industrial Average ETF(NYSE:DIA) is trading in a 0.40 cent range for most of the session. This makes the markets very dull after the first two hours of the day. Short term day traders must be especially careful in this type of… Continue

Added by Bryan Leighton on March 31, 2011 at 3:00pm — No Comments

Ford Daily Bull Flag Signals Possible Profits

Ford Motor Company (NYSE:F) continues to consolidate off the lows hit weeks ago. After hammering into the 200 moving average on the daily chart multiple times, Ford jumped higher on March 24th, 2011. That move took the stock well off the 200 moving average and started a bullish consolidation pattern known as a bull flag. This pattern has a solid probability of profit on the long side if played correctly.

Gareth Soloway…


Added by Bryan Leighton on March 31, 2011 at 1:04pm — No Comments

Oil Stocks Show Signs Of Top

Many oil stocks are reversing early gains today, signaling a possible top. Some of the biggest names have had some of the most impressive gains in the last nine months. Chevron Corporation (NYSE:CVX) has gone from under $67.00 per share in July 2010 to a high today of $109.65. That is a massive gain of 63%. Exxon Mobil Corporation (NYSE:XOM) has also jumped from a low of $56.00 in July 2010 to a recent high of $88.23. The gain here is a whopping 57%. Lastly, it is important to take note of… Continue

Added by Bryan Leighton on March 31, 2011 at 12:45pm — No Comments

SanDisk Corp. Scalping Level On Watch

SanDisk Corporation (NASDAQ:SNDK) ran sharply higher early in the morning, spiking to a high at $46.43. After hitting that level, the stock has slowly declined, falling almost back to gap fill. At gap fill there is also the major support of the 50 moving average. This price level is $45.40. This price represents a solid level for a scalp to the long side.

Gareth Soloway…


Added by Bryan Leighton on March 31, 2011 at 12:29pm — No Comments

Markets Consolidate Ahead Of Jobs Number

The SPDR S&P 500 ETF (NYSE:SPY) is trading slightly lower today at $132.67, -0.10 (-0.08%).  After two consecutive days of higher markets, it appears all eyes are now turned to the Non Farm Payrolls Number and Unemployment Report. Expectations are extremely high, with the market pricing in a gain in jobs in the range of 250,000. While the markets need a number of 250,000 to move higher tomorrow, it is unlikely a number lower would cause significant selling. If gains in jobs were… Continue

Added by Bryan Leighton on March 31, 2011 at 12:09pm — No Comments

Chevron Fades From Open. Watch This Level

Chevron Corp.(NYSE:CVX) started the morning around the $109.60 area at the open of the day. The stock has faded a bit from the opening high print and is trading around the $108.80 area now. Short term scalp traders must watch the $108.00 level as important intra-day support. Should the stock decline down to that area this would be a likely bounce level.

Nicholas Santiago…


Added by Bryan Leighton on March 31, 2011 at 10:28am — No Comments

Gold and Silver Shining Early

This morning the precious metals are rallying higher. Recently, gold and silver have been trading in tandem with oil. This morning WTI oil has surged higher by $2.18 to 106.45 a barrel as the Middle East and North Africa remain in turmoil. Anyone that has followed the problems in that region over the years know that problems do not disappear quickly in this region.

The SPDR Gold Shares(NYSE:GLD) are trading higher by $1.41 to $140.07 a share. The all time high for the GLD was…

Added by Bryan Leighton on March 31, 2011 at 10:18am — No Comments

Pre-market News and Views

The S&P 500 e-mini(ES M1) futures began to decline around 5:00 am EST and are trading lower by 2.50 to 1321.50 per contract. At 8:30 am EST the initial jobless claims report was released and declined by 6,000 to 388,000 claims. This number was expected by most economists. Tomorrow is the highly anticipated government job report for the month of March. Most economists are expecting 195,000 new jobs to be announced. Despite this report not having much effect on the market over the past… Continue

Added by Bryan Leighton on March 31, 2011 at 9:38am — No Comments

Another Rally With Pockets Of Weakness

The major stock indexes have staged another rally. Everything that one could throw at this market has been swallowed as the major stock indexes seem to defy gravity. The highly followed Dow Jones Industrial Average has rallied higher by 820.0 points in just eleven trading sessions. The move higher from the March 16, 2011 cycle pivot has been nothing less than remarkable. Geopolitical events in Japan, the Middle East, and Europe, have had hardly any negative effects from the March low.… Continue

Added by Bryan Leighton on March 30, 2011 at 3:41pm — 1 Comment

Something Wrong In Apple City

Apple Inc. (NASDAQ:AAPL) is weak for the second day in a row. Not only is the lack of strength significant, but add to it a market rally both days and the weakness in Apple is even more glaring. With the markets spiking higher, Apple is trading at $348.89, -2.07 (-0.59%). This is significant for many reasons but mostly because Apple Inc. has been a leader in the market. With the markets now surging back towards the 52 week highs, Apple can barely catch a bid. I wrote about this a week ago and… Continue

Added by Bryan Leighton on March 30, 2011 at 12:33pm — No Comments

ADP Private Jobs Report Keeps Markets Higher

The markets continued their march higher today, closing in on the 52 week highs.  The SPDR S&P 500 ETF (NYSE:SPY) are hammering on the highs of the day at $132.76, +0.90 (+0.68%). This is just slightly off the 52 week highs on the SPY at $134.69. The markets are higher today on the back of continued optimism after ADP Private Sector Employment was reported. The private sector gained 201,000 jobs which is very bullish for Friday's jobs report. On Friday, at 8:30am ET, the Non Farm Payroll… Continue

Added by Bryan Leighton on March 30, 2011 at 12:20pm — No Comments

Texas Instruments Under Pressure. Watch This Area

Texas Instruments inc.(NYSE:TXN) is declining lower this morning by 30 cents to 34.67 a share. Short term intra-day scalp traders can watch for support around the $34.54 area. This is a likely small intra-day bounce area for the stock.

Nicholas Santiago

Added by Bryan Leighton on March 30, 2011 at 10:42am — No Comments

SINA Finally Retreats. Watch This Level

Sina Corp.(NASDAQ:SINA) has rallied sharply higher since early March. Today the stock is trading lower by $1.35 a share to $106.30 a share. Traders can look for a small intra-day bounce around the $105.90 level. Please remember that this stock is overbought on the daily chart and the bounce higher may not last very long due to the overbought condition.

Nicholas Santiago…


Added by Bryan Leighton on March 30, 2011 at 10:21am — No Comments

Transports Test Major Level

The iShares Dow Jones Transport ETF(NYSE:IYT) has rallied sharply higher from its March 15, 2011 pivot low at $88.90 a share. This morning the IYT is trading higher by 0.59 cents to $95.72 a share. The IYT has rallied higher by nearly $7.00 in just 12 trading sessions. At this time the IYT is trading around its recent double top area from February 18, 2010 which was $96.30. Therefore, this area should be of some resistance in the near term. The IYT is also getting a bit extended on the… Continue

Added by Bryan Leighton on March 30, 2011 at 10:07am — No Comments

Pre-market News And Views

What can we say? The S&P 500 Index futures (ES M1) are trading higher again this morning by 6.00 points to 1322.50 per contract. The S&P 500 futures have now rallied higher by 81.0 points in just 10 trading sessions. The rally higher has been on much lighter volume and this is certainly a concern for many traders and investors. However, price action is all that matters and it seems to climb regardless of the geopolitical events around the world.

Last night the Asian…

Added by Bryan Leighton on March 30, 2011 at 9:28am — No Comments

Broadcom Retreats Intra-day. Watch This Spot

Broadcom Corp.(NASDAQ:BRCM) has staged a strong move higher from a sharp gap lower open. The leading chip stock has now pulled back intra-day despite the major stock indexes rallying near the highs of the session. Short term scalp traders can watch the $40.40 area for intra-day support. This is a likely intra-day bounce area for aggressive scalp traders.

Nicholas Santiago…

Added by Bryan Leighton on March 29, 2011 at 3:46pm — No Comments

Silver Wheaton Fades From High. Watch This Level

Silver Wheaton Corp.(NYSE:SLW) started the day rallying from a morning gap lower open. The leading silver streaming stock has faded from its high made at 11:30 am EST. Short term traders can look for intra-day support around the $42.65 area. This is a level where the stock can have a small bounce.


Nicholas Santiago

Added by Bryan Leighton on March 29, 2011 at 3:15pm — No Comments

Rare Earth Stocks Hottest

Over the last week, rare earth stocks have caught fire again. Molycorp, Inc. (NYSE:MCP) is soaring today, trading at $58.85, +3.34 (+6.02%). It has gone almost straight up over the last eight trading days. On March 18th, 2011, MCP was trading at $42.10. Truly an amazing move in a short amount of time.  Other small China rare earth plays are also soaring. China GengSheng Minerals, Inc. (AMEX:CHGS) is up 12% today and has gone from $1.97 on March 22nd, 2011 to a high today of $3.68.…


Added by Bryan Leighton on March 29, 2011 at 12:41pm — No Comments

Why: Oil Trades With Markets Unlike Weeks Ago

It was just three weeks ago when oil spiked higher, causing the market to sell sharply. As oil traded over $100 per barrel, the markets got jittery over fears it would crush a slowly recovering economy. Today, the markets are loving oil as they trade together, tick for tick. The SPDR S&P 500 ETF (NYSE:SPY) is trading at $131.51, +0.53 (+0.40%). This is the high of the day. The United States Oil Fund LP (NYSE:USO) is trading at $41.83, +0.41 (+0.99%). This is also the high of the day.  So… Continue

Added by Bryan Leighton on March 29, 2011 at 12:05pm — No Comments

U.S. Dollar Index Fades And Helps To Inflate Markets

The U.S. Dollar Index started the morning very strong as problems in the European Union seems to grow on a daily basis. Portugal is the country in focus today as it was downgraded by S&P. When the U.S. Dollar Index declines it will usually help to inflate most commodities and asset prices. This morning when the U.S. Dollar Index was trading at its intra-day peak the major stock indexes were negative, however, once the U.S. Dollar Index declined the major stock indexes have reversed… Continue

Added by Bryan Leighton on March 29, 2011 at 10:41am — No Comments

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