HealthSprint (HS) – 08-27-2010
I’m not bullish now, but I’m already in all the bearish positions I can handle. Solid numbers on an industry leader are always good. I can’t say I know what the merger with Bravo Health means for HS, but I do see a breakout occurring on the news. $20 seems to be a long term sticking point for this stock, so I’m willing to give this guy a shot if the market does actually turn up.
Stock Market Analysis – 08-27-2010
Today was another volatile day in the market, but when all is said and done, we’re still at the same place we started the week at. The dragonfly doji on the weekly charts would be bullish, but since we just had alternating up and down days I’m not sold. We’re sitting at the top of short term resistance, so unless we break that, I’m still wholeheartedly bearish.
The fed is acknowledging the fragility of the economy, but there appears to be some infighting about whether to stimulate the economy before a new downturn is confirmed. While acknowledgement is the first step to avoiding a plunge back down the $700, continuing this downtrend is still likely in the immediate future. Having said that, $1040 has held up a couple times now, so I’m setting some bullish orders and tightening up my stops on the bearish positions. The summer doldrums are ending soon, so I don’t want to get left behind whichever direction the market chooses to go.
Stock Market Analysis – 08-20-2010
After a brief bounce, the market appeared to be heading back south only to have a bullish reversal on Friday after lunch. That leaves us squarely in the middle of no man’s land again, and still waiting for something to force action. Consolidation periods aren’t bad if you have your stops wide enough, so hang tight on your current positions and wait for signals on new ones.
Stock Market Analysis – 08-16-2010
A wishy washy day with weak volume doesn’t say much besides hinting at the bears running out of steam. We’re still around the midway point though, so I wouldn’t open too many new positions. Time to sit around and keep waiting…
Stock Market Analysis – 08-11-2010
The market had been opening low and closing high on declining volume lately, but finally ran out of steam. With the action picking up again, the market opened down and kept going. That puts us between the same watch levels of $1040 and $1140 that we’ve had over the past couple months.
If you’re in bullish positions, this drop probably didn’t stop you out yet, but you’re probably pretty close. Hang tight on your bearish positions since it’ll probably be a choppy ride down if we do fall back through $1040. As always, make sure you have some predefined exit points and don’t feel bad if you fall for some head fakes. Managing risk in these periods is more important than making big money, but of course letting your winners ride is important on your correct guesses.
Stock Market Analysis – 08-06-2010
The market started weak, but coincidentally bounced back right off the uptrend line. I still don’t want to say I’m bullish, but the bears failed to capitalize on another chance. The range keeps narrowing and should be broken one way or another this week. It should have a nice tight natural stop, so get ready to make a play.