Bryan Leighton's Blog – May 2010 Archive (23)

Implications Next Week From A Friday Sell

A sharp sell off rocked Wall Street into the close on Friday in the

final minutes. Stocks like Exxon Mobil Corporation (NYSE:XOM) and

Microsoft Corporation (NASDAQ:MSFT) sold particularly hard. These two

stocks have been some of the weakest in recent weeks. The weakest

stocks will always be hardest hit on any sharp sell. The reason for the

sharp sell off into the close can be looked at from multiple angles.

It is important to understand these angles as it will help… Continue

Added by Bryan Leighton on May 30, 2010 at 11:16am — No Comments

Positives For Oil Stocks

Oil jumped higher for the second straight day today. A major pivot low

on the oil chart from July 2009 was hit on Tuesday around $68 dollars a

barrel. From that level, oil closed at the highs of the day on

Tuesday. This created a bullish double bottom and pivot low. The last

two days, solid gains followed. While oil is seeing these big gains,

oil stocks are also rocketing higher. Exxon Mobil Corporation

(NYSE:XOM) is jumping more than 2.5% while Chevron… Continue

Added by Bryan Leighton on May 27, 2010 at 12:13pm — No Comments

Markets Fade As Euro Falls

The SPDR S&P 500 ETF (NYSE:SPY) gapped higher today and continued

to push until 10:30am ET. At this point, the SPY ran into major

resistance around $109.35-$109.50. After trying multiple times to take

this level out, the SPY started to fall. It fell all the way down to

the 200 moving average and the 20 moving average. This area was and is

obviously big support. While a small bounce is likely, should that

level fail to hold, the SPY could head to gap fill at… Continue

Added by Bryan Leighton on May 26, 2010 at 12:03pm — No Comments

Goldman Sachs Surges While Amazon Runs Wild

Goldman Sachs Group, Inc. (NYSE:GS) and, Inc. (NASDAQ:AMZN) were two of the few stocks to post gains today. Both stocks showing signs of life in sectors that are getting beaten up

today. Goldman is trading at $139.40 +$2.71 (1.98%) while

is trading at $122.46 +$0.34 (0.28%).

The markets are getting knocked around today as fear continues to

bubble up in Europe. The Euro is getting hit while the U.S. Dollar is

surging. The markets are off…

Added by Bryan Leighton on May 25, 2010 at 1:00pm — No Comments

Stock Market Movers, Money Makers

Global drama continues to hurt the markets. Last night the futures

were getting crushed as Asia and Europe sold sharply as continued

worries about Spain and Portugal killed the Euro. In addition, North

Korea and South Korea seem to be one bullet away from a major

confrontation. The Dollar soared again but into a major double top

from last week. Since the opening highs of the Dollar, a pull back has

occurred. The markets in response have inched higher into the gap… Continue

Added by Bryan Leighton on May 25, 2010 at 12:07pm — No Comments

Stock Market Update: Pro View

Technology is leading the way today with Apple Inc. (NASDAQ:AAPL)

taking charge. Apple Inc. is surging 2.81% to $249.14 +$6.82. This

stock alone is helping to carry the Nasdaq slightly higher. Google

Inc. (NASDAQ:GOOG) is also advancing nicely today with a gain of

2.81%. The stock is trading at $485.31 +$13.26.

Aside from technology, the markets seem to be somewhat on pause and

still jittery. The Dow Jones Industrial Average and the S&P 500

are lower… Continue

Added by Bryan Leighton on May 24, 2010 at 12:12pm — No Comments

Next Weeks Key Set-Ups!

This past week the S&P 500 Index lost another 48.00 points making

this correction four weeks in length. Even though this was a sharp

weekly decline the broad based index did stage a sharp reversal day

into the close of options expiration on Friday May 21, 2010. At this

time the weekly 50 moving average has held as support for the index.

This important moving average was tested during flash crash on May 6th,

2010 and then again tested last week as the index… Continue

Added by Bryan Leighton on May 23, 2010 at 4:48pm — No Comments

Obvious Stock Rally Based On Sentiment

The markets closed at their lows of the day yesterday. The SPDR

S&P 500 ETF (NYSE:SPY) closed at $107.54. The fear was palpable as

the futures overnight and this morning sold even more. As the fear

spread at the open, the markets gapped lower. The SPY gapped down to

$105.91. This was exactly what a true swing and day trader was looking

for to buy the markets.

Exxon Mobil Corporation (NYSE:XOM) was one of the longs played, picking

it up at $59.55 on… Continue

Added by Bryan Leighton on May 21, 2010 at 1:26pm — No Comments

Markets Flush To Master Technical Level

The markets may have capitulated today as a flush came in on the SPDR S&P 500 ETF (NYSE:SPY) to the master $107.95 level. This was a huge level going back to February and was noted as such in my morning

alert sent to premium members. The volume on this flush was huge as

well, signaling a possible bottom in the market in the short term.

Another signal we may be at or near a bottom in this market is the

Euro. Up until the last couple days, the CurrencyShares…

Added by Bryan Leighton on May 20, 2010 at 12:00pm — No Comments

Stock Market: Drop It Like It's Hot

After an impressive recovery yesterday off the lows, the markets are

getting slammed once again as Europe continues to take the wrong steps

in the short run to try and prop up their markets. After Germany

banned some naked short selling on Wednesday causing a panic drop in

the market, word on the street is that Europe the rest of Europe is

doing the same thing. It is not that naked short selling should be

allowed, it is more the random move which suggests European… Continue

Added by Bryan Leighton on May 20, 2010 at 11:48am — No Comments

Markets Turn Negative On Financial Stocks

As mid day approaches, the markets have turned to the negative side.

Fear continues to creep out of Europe as the Euro has inched back to

the negative side against the Dollar. In addition, financial

regulation seems sure to pass in the coming weeks. Financial stocks

are having a tough time catching any sort of bid.

Goldman Sachs Group, Inc. (NYSE:GS) is dropping sharply today. The

stock is trading at $140.24 -$2.40 (-1.68%). In addition, JPMorgan

Chase… Continue

Added by Bryan Leighton on May 18, 2010 at 12:31pm — No Comments

Big Banks Under The Gun

This morning the major market indexes are all trading lower continuing

Friday's decline. While many sectors such as energy and industrial

metals are trading lower it is the financial stocks that are really

putting the pressure on the stock market. This morning there is a lot

of chatter that the Volker rule will pick up steam and become law. Paul

Volcker is the former Federal Reserve Bank Chairman from 1973 – 1987.

His current plan is to restrict banks from making… Continue

Added by Bryan Leighton on May 17, 2010 at 12:33pm — No Comments

Expect A Euro Bounce And Bank It

Have you tried to find someone bullish on the Euro CurrencyShares Euro

Trust (NYSE:FXE)? I have had no success in finding anyone out there

that is bullish. What does that mean? It means I am moving to the

bullish side on the Euro and slightly bearish on dollar. Why would I

do this? The short Euro trade has been done to death in the short

term. Over the weekend, every financial media outlet was talking about

the Euro crashing, coming to par with the Dollar. Every… Continue

Added by Bryan Leighton on May 17, 2010 at 12:01pm — 1 Comment

Markets Slump Again As Euro Falls

The SPDR S&P 500 ETF (NYSE:SPY) hovers at the lows of the day and

is slowly moving towards the double bottom from Friday. This will be

short term support. It is all on the back of a fall in the

Euro CurrencyShares Euro Trust (NYSE:FXE) in mid morning trading. The

Dollar PowerShares DB US Dollar Index Bullish (NYSE:UUP) in response is

appreciating in value.

As the Euro falls and the Dollar rises, the markets are moving lower.

For this market to rally,… Continue

Added by Bryan Leighton on May 17, 2010 at 11:29am — No Comments

The Bottom Line: Stock Market Looks Lost

The markets continue to hover slightly lower today. The wild swings

seem to be on pause as the S&P 500 (INDEXSP:.INX) is trading at

1,167.17 -4.50 (-0.38%). The The Dow Jones Industrial

Average (INDEXDJX:.DJI) hovers at 10,869.25 -27.66 (-0.25%) and the

NASDAQ Composite (INDEXNASDAQ:.IXIC) drops to 2,411.68 -13.34 (-0.55%).

The markets seem to be unable to make a decision on which way to go in

the short term. The bulls are still lurking while the bears… Continue

Added by Bryan Leighton on May 13, 2010 at 1:12pm — No Comments

Top Stocks Hitting New Highs Signal Drop Alert

Key stocks like SanDisk Corporation (NASDAQ:SNDK), Baidu, Inc.

(NASDAQ:BIDU) and Netflix, Inc. (NASDAQ:NFLX) all made new 52 week

highs today with large surges in the first hour of trading. Baidu,

Inc. jumped on continued retail buying after the 10 for 1 stock split.

This jump after a stock split is normal as the retail investor now

finds the stock cheap enough to buy. As they buy, the institutions

unload. Baidu, Inc. gapped higher this morning, pushing to a high… Continue

Added by Bryan Leighton on May 13, 2010 at 12:28pm — No Comments

Fannie Mae and Freddie Mac Continue to Bleed The System

Countless amounts of times we have stated that Fannie Mae (NYSE:FNM)

and Freddie Mac (NYSE:FRE) have no business being public companies.

These stocks continue to cost tax payers billions of dollars as they

continue to lose money quarter after quarter.

Today Fannie Mae and Freddie Mac requested another $20 billion dollars

combined in order to continue to function. This large financial request

comes after Fannie Mae reported a huge loss this morning. How… Continue

Added by Bryan Leighton on May 10, 2010 at 1:08pm — No Comments

Markets Surge As Global Printing Of Money Continues

If you can't fix it, print some more money. That is the policy of the

world leaders today as Europe has in place an almost one-trillion

bailout package of sorts. After last weeks market decline, this is not

surprising. Bottom line is, if you can't fix it, print it.

Stocks continue to hold most of their gains today. The DOW, S&P

500 and NASDAQ all up 4%. Key moves from stocks like Apple Inc.

(NASDAQ:AAPL), Google Inc. (NASDAQ:GOOG), Exxon Mobil… Continue

Added by Bryan Leighton on May 10, 2010 at 11:57am — No Comments

The Strongest Stocks In An Ugly Market

While the markets have been pounded of late, there are always some

hidden gems that somehow find a way to have minimal downside in an

otherwise ugly bloody mess. BlackRock, Inc. (NYSE:BLK) is as strong as

a stock can be today, considering the market. I wrote an article on it

yesterday, mentioning the massive support level on the weekly and

monthly charts. Even with the massive sell off yesterday, BLK was

barely down by the close. Today, the stock is higher by… Continue

Added by Bryan Leighton on May 7, 2010 at 12:22pm — No Comments

Markets Slam Into Master Level, Short Term Bounce Possible As These Plays Look Promising

The markets sold sharply in morning trading on the back of a continued

sell off in the Euro and pop in the Dollar. The reasons continue to be

Greece and Europe. Fears of the Greek contagion spreading continue to

be at the forefront of the global fears. While this caused the market

to sell sharply, a major level of $115.00 - $115.50 was tagged on the

daily chart of the SPDR S&P 500 ETF (NYSE:SPY). The SPY low of the

day was right in the middle at… Continue

Added by Bryan Leighton on May 6, 2010 at 12:44pm — No Comments

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