Stock Market Analysis – 03-11-2010
Volume has picked up a little bit and we’re right at the 52 week high despite a lot of bad news over the week. The market is getting overbought again, but that just means you should play more conservatively. I’ll keep running with the bulls even though I’m still expecting a correction any day now.
Stock Market Analysis – 03-06-2010
The bulls made a strong run with the jobs data better than expected, but still failed to muster much volume. With the “too much snow to work” excuse already lined up, the results were quite unsurprising. I’m still pretty torn over how to play this market in my long term portfolio. With the bullishness over the past week, a bunch of long positions have triggered, only to have me chicken out and take 3-5% gains right away, leaving quite a bit more on the table. The correct action would be to either cancel my orders or let my positions run once they’re established. Clearing $1140 and setting a new 52 week high would be an unmistakable signal, so we’ll see how this week goes.
Devry (DV) – 03-04-2010
A long time ago, when I was an intern, they started building a Devry next to my company. “Who actually goes to Devry?” I snickered. “I went to Devry,” said a sheepish senior coworker. I learned to watch what I say that day, but I also learned that Devry is a decent option as what I consider a white collar vocational school, if that makes sense.
When unemployment is over 10%, you have a lot of people trying to figure out how to make themselves stand out to employers. You also have people forced into contemplating career changes. Sounds good for schools that are fast and cheap, right?
DV had a breakout earlier in the year, and is just starting to run again. It’s not really at a buy point right now, but this is one of those group watches. APEI, CPLA, STRA, etc. are all stocks with nice earnings in a similar vein. I’m just partial to DV since I have some history with it.
Stock Market Analysis – 03-04-2010
I never would have guessed that the market would battle with this much strength. The volume is still weak, but the amount of support is still surprising. Will the market break down below $1115 or up above $1125? It’s a narrow range, so we shouldn’t be waiting long. Of course I’ve been waiting for that strong signal since $1100, so maybe it won’t be that quick.
Stock Market Analysis – 03-02-2010
Stock market goes up. Clippers beat Utah. Stock market continues strong the next morning. Coincidence? We’ll see. With the Clippers playing the Suns tomorrow, another lockstep day would be convincing enough for some technical traders. Forget the fact that the market ended up in a gravestone doji and that the Clippers are 3.5 point underdogs, making both more than likely to lose tomorrow. If the Redskins can predict the presidential election, the Clippers can predict the stock market.
P.S. Keep an eye on $1080, which would signal the end of the month long bullish run.
Stock Market Analysis – 02-26-2010
Normally I have a pretty quick opinion when I look through the data and post to this blog. For some reason, I keep going back and forth right now though. The economic numbers keep disappointing, but the fact that the chart has some bullish signs confuses me. It looks like it’s setting up with some distribution in the middle of a leg up, but everything says we should be breaking below $1050. Hopefully we’ll get some stronger signals this week.