Money Flowing into High Beta Stocks as End of 2013 Approaches
With the market heading into the final 9 weeks of the year, the majority of hedge funds and long/short funds are badly trailing the averages and they are now chasing. The high beta stocks are attracting a lot of speculative fast money and are trading with bubble-like action (see PRTR). Once all this money gets […]
High-Flying Stocks Diverge
Yesterday I mentioned that Tuesday saw a crack in the momentum stocks and this is usually a sign that a short-term pullback is close. Whenever you see the high-flying stocks diverge for the day as they did on Tuesday, the market shortly follows. Today the market is neutral. There is absolutely no fear in the […]
Market Due for a Pullback
The market remains overbought and due for a pullback after making new highs for four consecutive days. Some of the momentum stocks began to crack yesterday and this is always the first sign that a short-term pullback is very near.. For today’s official Daily Battle Plan set-ups click here.
Will the Jobs Report Prod Volatility
The market remains overbought and yesterday saw the expected pause day that occurs after the market run higher. It’s still very quiet on the news front but the jobs report has the potential to get volatility moving again. We’ll be there should the report cause a short-term pullback. For today’s official Daily Battle Plan set-ups click […]
All Quiet on the News Front
The market is overbought and expect a pause/pullback within a day or so. The weekend was very quiet on the news front and unless something unexpected or out of the ordinary occurs, today will likely be a quiet day. For today’s official Daily Battle Plan set-ups click here.
A Collapse In Volatility Precedes…
The VIX doesn’t often lose 35% of its value in 7 trading days and this is one of those rare occasions. A collapse in volatility is not usually followed by large market declines; in fact it tends to be followed by intermediate-term rallies. If this follows the past, the market will have a short-term pullback […]
Oversold to Overbought and Back Again
The market is back to being slightly overbought today (ConnorsRSI reading of 75) after being slightly oversold yesterday (ConnorsRSI reading of 27). If you looked at only price data, and shut everything else off, everything looks perfectly normal. In an age where the noise gets louder and louder though it’s easy to miss the fact […]
Market Waiting in Neutral
Yesterday’s pullback was obviously due and it brings the market back to neutral position. Everything will continue to be predicated on the events in Washington and the news will control prices for at least a few more days. Look to take advantage of any follow-through on the pullback side. For today’s official Daily Battle Plan […]
Market Moves Further into Overbought
The market is now more overbought. Obviously all moves today and tomorrow are predicated around an agreement in Washington and prices are reflecting a deal will get done. There’s a chance for another move higher but a short-term pullback will be in store. For today’s official Daily Battle Plan set-ups click here.
ETFs Moving to Overbought
There’s a plethora of ETFs with ConnorsRSI readings above 80 coming into today and even though this market could continue to rally, a pullback is likely within a day or so. Today’s Potential Opportunities on Further Pullbacks: Stocks DGX ETFs GDXJ Click here to launch your free, 7-day trial to the Daily Battle Plan […]
Budget Talks Spur Market Rally
On Monday and Tuesday I mentioned that any movement in the budget talks would likely lead to a large rally. Historically when so much confusion comes into place, portfolio managers just stop buying. They usually will wait until there’s a safer time to buy and that occurred yesterday as they opened the DOW 170 points […]
The State of the Markets
Well, this pretty much summarizes the state of the markets heading into Thursday…Responding to news that Fidelity is selling short-term debt ahead of the looming debt ceiling, Pimco’s Bill Gross says his firm is doing just the opposite. Enough said for today. The above excerpt is from Larry Connors’ Daily Battle Plan – A professional-grade […]