Bryan Leighton's Blog – November 2010 Archive (112)

Bank of America Drops On Wikileak Rumor

Bank of America Corp.(NYSE:BAC) is

making a new low for the year today. The stock is now rumored to be part

of a wiki-leak that is yet to be released. The stock has been one of

the weaker financial stocks throughout 2010. Since April 15th, 2010 the

stock has declined by $9.00 points. This afternoon Bank of America has

pierced it's recent $11.00 support level making it vulnerable for

further declines in the near term.…


Added by Bryan Leighton on November 30, 2010 at 3:56pm — No Comments

TXN Resistance Area

Texas Instruments Inc.(NYSE:TXN) has rallied higher since 11:00 am EST.
The stock is still trading lower by 0.24 cents to $31.96 a share. This
leading tech stock will have intra-day resistance around the $32.08 -
$32.11 area on the charts. Watch for a small pullback around this level.

Added by Bryan Leighton on November 30, 2010 at 3:38pm — No Comments

Groundhog Day

Today's trading session looks very

similar to yesterday. The major stock indexes made a morning low during

the first 30 minutes of the trading session just like yesterday. The

U.S. Dollar Index pulled back from the morning highs helping the markets

to inflate higher just like yesterday. The Federal Reserve Bank pulled

off another $6.8 billion POMO operation just like yesterday. I'd say

this was a groundhog day or a repeat of…

Added by Bryan Leighton on November 30, 2010 at 3:23pm — No Comments

A Small Cap To Watch

Spherix Incorporated (NASDAQ:SPEX) is a biotech with a very promising diabetes drug. After statistically significant results on October 7th, 2010, the stock spiked as high as $2.10. During the same day the

company announced that institutional investors had purchased $5.25

million in convertible preferred stock and warrants. This killed

investors as the stock dumped and turned negative on the day. Many

investors viewed this action, during the same day as good news…


Added by Bryan Leighton on November 30, 2010 at 12:31pm — No Comments

Markets Weak As Europe Troubles Spread

The markets are lower today as the Dollar gained again. Simply put, the

Dollar gains when global fears bubble up. This is happening again today

in Europe as the domino effect is in full mode. Greece, Ireland and now

on the horizon, Spain, Portugal, Belgium and Italy. Where do the

bailouts stop? Will Germany bail out everyone? The PowerShares DB US

Dollar Index Bullish (NYSE:UUP) is trading at $23.42, +0.07 (+0.30%).

With the Dollar higher, obviously, the markets… Continue

Added by Bryan Leighton on November 30, 2010 at 11:47am — No Comments

Just Follow Exxon Mobil

Do you remember that old television

commercial for Fruit Loops cereal? "Follow your nose it always knows".

Well, in the trading world it is Exxon Mobil Corp.(NYSE:XOM) that is the

Fruit Loops of stocks. When this stock rallies or trades higher there

is a very good chance that the stock market will bounce higher. When

Exxon Mobil Corp. declines or pulls back it is prudent to expect the

major stock indexes to pullback.…

Added by Bryan Leighton on November 30, 2010 at 10:51am — No Comments

Asia, Europe, U.S. Dollar, and QE-2 Make The World Go Around

Where do we begin when trying to talk

about this global soap opera? Lets start in Europe. Ireland is now on

the official bailout list with Portugal, Spain, Italy, and Belgium being

adding to the list of the next countries to need a bailout. Gold has

surged to a new high versus the Euro currency. In other words panic is

starting to set in and this problem is starting to hit the fan. The big

question that everyone is asking is, will…

Added by Bryan Leighton on November 30, 2010 at 10:34am — No Comments

Newmont Mining Climbs From The Basement

This morning most of the gold mining

stocks were under pressure as the major indexes were all trading lower

and the U.S. Dollar Index was stronger. However, after the second dose

of POMO and a retreat in the U.S. Dollar Index the major stock indexes

have all rallied sharply higher reversing earlier declines.

Newmont Mining Corp.(NYSE:NEM) is a leading gold mining stock that has

started to catch a bid higher this afternoon…

Added by Bryan Leighton on November 29, 2010 at 3:53pm — No Comments

POMO and the U.S. Dollar Index Lift Markets Off the Lows

The major stock market indexes have all caught a sharp bid higher as the
second round of POMO hit the market and the U.S. Dollar Index retreated
from it's intra-day highs. The Dow Jones Industrial Average has
reversed higher by more than 100.00 points in the last two hours. The
S&P 500 Index and the NASDAQ Composite have made similar moves
higher. Should the U.S. Dollar Index decline or pullback the markets
could trade higher.

Added by Bryan Leighton on November 29, 2010 at 3:13pm — No Comments

Amazon Trying To Hold Gains As Online Sales Soar, Inc. (NASDAQ:AMZN) is holding minor gains today even with

the market deep in the red. The stock traded as high as $181.84, +4.64

early in the day after reports came out that online sales look to be

very strong this holiday season. While this helped the stock up early,

it has given back all but a Dollar of the gains. The markets are under

huge pressure as Europe continues to fall apart. It is all but certain

now that Ireland was just the tip of the… Continue

Added by Bryan Leighton on November 29, 2010 at 12:12pm — No Comments

European Debacle Sends Stocks Reeling

The European situation continues to unravel after Ireland got a $113 billion bailout over the weekend. Spain and Portugal are next, with more countries on the horizon. This sent the Dollar spiking higher.

A stronger Dollar is bad for the artificial wealth effect that the

Federal Reserve has been pushing. Thus the markets are lower. If things

quiet down, the Dollar may pull back helping the market off the lows.

The strongest sector of the day is financial firms and banks.…


Added by Bryan Leighton on November 29, 2010 at 11:40am — No Comments

IBM Puts Pressure On the DJIA

International Business Machines Corp.(NYSE:IBM) is a leading technology

stock and a major Dow Jones Industrial Average component. Today IBM is

trading lower by $2.10 cents to $141.85. It is important to remember

that the Dow Jones Industrial Average is a price cap weighted index and a

large priced stock such as IBM will put much more pressure on the Index

than a $36.00 stock such as Disney Co.(NYSE:DIS). IBM will have short

term intra-day support around the $141.50… Continue

Added by Bryan Leighton on November 29, 2010 at 10:49am — No Comments

Supply and Demand Is The Solution

The U.S. Dollar Index is trading

sharply higher this morning gaining 0.68 cents to $81.00. On November

4th, 2010 the U.S. Dollar Index was trading as low as $75.63. At the

same time the S&P 500 Index was making new highs for the year around

the 1227.00 level. However, once the European Union began to signal new

debt worries the U.S. Dollar Index has surged higher and the major

market indexes around the world have sold off. Is…

Added by Bryan Leighton on November 29, 2010 at 10:31am — No Comments

Stocks To Watch

Broadcom Corporation (NASDAQ:BRCM) has been one of the strongest semiconductor

stocks throughout 2010. Last week the stock made a new high for the

year and remains in a strong technical uptrend on the charts. However,

often after a strong multi-week move to the upside a pullback or

correction could be on the horizon. Please note that while the stock is

at a new high for 2010, the $45.00 area will be a…

Added by Bryan Leighton on November 28, 2010 at 11:17pm — No Comments

Ugly Start To Black Friday

The major stock market indexes all

opened sharply lower this morning. The catalyst for today's early

decline was the increased tension between North and South Korea. Nothing

seems to have been resolved between the two countries. There is also

continued problems across the European Union. Portugal seems to be the

next in line for a bailout. The Euro currency declined again this

morning against the U.S. Dollar breaking the technical…

Added by Bryan Leighton on November 26, 2010 at 10:33am — No Comments

Intra Day Alert: Watch This Trend Line For Break Out Or Break Down

In the chart below, note the green trend line which connects the highs of the last three days. The SPY continues to try and get through this level. If it succeeds, it will head towards the first blue trend

line, then the second blue trend line. Trend line analysis is number

one when it comes to mastering swing trades and day trades.

Gareth Soloway

Chief Market Strategist



Added by Bryan Leighton on November 24, 2010 at 12:34pm — No Comments

Retail Hot But Do Not Believe The Hype

Retail has been hotter than the sun over the last two months. Many

stocks continue to hit new all time highs ahead of the biggest shopping

day of the year, Black Friday. Retailers and Wall Street continue to be

extremely optimistic after the Federal Reserve has pumped trillions of

Dollars into the economic system, artificially inflating asset prices to

fool the average American into feeling wealthy again. Just today,, Inc. (NASDAQ:AMZN) ran to a new all… Continue

Added by Bryan Leighton on November 24, 2010 at 11:39am — No Comments

HPQ Inching Lower. Watch This Support.

Hewlett Packard Co.(NYSE:HPQ) is a leading tech stock that is not
participating in today's light volume holiday rally. The stock is
trading lower by 0.57 cents to $43.60. Should the stock trade down to
the $43.30 this would be short term intra-day support and a possible
bounce area for the stock.

Added by Bryan Leighton on November 24, 2010 at 10:42am — No Comments Is Trading Lower. Watch This Spot. Inc.(NYSE:CRM) is trading lower this morning by 0.79
cents to $141.67. This is another leading name that is showing weak
relative strength today. This stock should have short term intra-day
support around the $141.15 area and much more around $140.00. Both spots
could see small short term bounces.

Added by Bryan Leighton on November 24, 2010 at 10:37am — No Comments

GLD Slides Lower. Watch This Support Area.

The SPDR Gold Shares(NYSE:GLD) are
actually trading lower today by 0.21 cents to $134.20. The GLD is moving
lower despite the weaker U.S. Dollar Index and the rally in most other
commodity stocks. GLD will have short term intra-day support around the
$133.75 area and more around $133.50.

Added by Bryan Leighton on November 24, 2010 at 10:25am — No Comments

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