We Needed This Rally – A Steady Grind Will Lead To A New High POSTED BY PETE STOLCERS ON OCTOBER 27 Posted 9:30 AM ET – The market has been very sluggish and earnings season has not excited investors so far. We needed good results from mega cap tech stocks and we got it. The market is going to … Read More
DAILY COMMENTARY: OCTOBER 26, 2017
Massive Earnings News Today – A Muted Reaction Would Signal A Top POSTED BY PETE STOLCERS ON OCTOBER 26 Posted 9:40 AM ET – Monday the market reversed off of an all-time high. That was a bearish pattern and we have seen profit-taking since then. Typically mega cap tech earnings attract buyers and this drop is unusual. We will … Read More
DAILY COMMENTARY: OCTOBER 25, 2017
Market At An Important Juncture – Watch For Tech Reaction Friday POSTED BY PETE STOLCERS ON OCTOBER 25 Posted 9:30 AM ET – Monday the market gapped to a new all-time high and it reversed forming a bearish engulfing pattern. If not for seasonal strength and earnings season, I would short the market. That pattern will take a few … Read More
Daily Commentary: October 24, 2017
Market Needs To Grind Higher Today Or Risk Rolling Over POSTED BY PETE STOLCERS ON OCTOBER 24 Posted 9:30 AM ET – Yesterday we saw a buyers boycott on a quiet news day. Once the momentum was established buyers pulled bids so that they can gauge the selling pressure. The volume remained light (low level of profit taking) and the … Read More
Daily Commentary: October 23, 2017
Solid Earnings Will Fuel the Rally This Week – Stay Long POSTED BY PETE STOLCERS ON OCTOBER 23 Posted 9:30 AM ET – The market will continue to grind higher this week. Strong earnings will fuel the rally and announcements will be heavy. Amazon, Bidu, Google, Intel and Microsoft will post after the close Thursday. Hang and your calls and … Read More
Daily Commentary: October 20, 2017
That Was Your Chance To Get Long – Ride Your Calls POSTED BY PETE STOLCERS ON OCTOBER 20 Posted 9:30 AM ET – Stocks are heading higher this morning after hitting a speedbump Thursday. That was the “nasty” day I have been referring to the last two weeks and the damage was contained. That is a bullish sign. Catalonia Spain … Read More
Daily Commentary: October 12, 2017
Market Will Strengthen Next Week – Buy the Dip or the Breakout POSTED BY PETE STOLCERS ON OCTOBER 12 Posted 9:00 AM ET – The market is trapped in a tight range just below the all-time high. Earnings season should attract buyers, but I still fear that we are in for a “nasty” day before we breakout. That drop and … Read More
Daily Commentary: 1Option
Market Due For A “Nasty” Day – Weather the Storm and Stay Long POSTED BY PETE STOLCERS ON OCTOBER 11 Posted 9:30 AM ET – Trading volume is extremely light and daily trading ranges are compressed. Thankfully, earnings season will begin Thursday and the action should pick up next week. Bullish speculators need to be shaken out before we can … Read More
Daily Commentary: 1Option
Market Wants Float Higher – Stay Long and Weather Speed Bumps POSTED BY PETE STOLCERS ON OCTOBER 9 Posted 9:30 AM ET – The market staged a nice breakout last week and we are seeing follow-through this morning. Tech stocks have lagged, but they should catch up as earnings season begins. Any dip will be a buying opportunity. Equity markets … Read More
Daily Commentary: 1Option
Buy This Dip – Bullish Specs Will Get Flushed Out Today – Jobs Are Fine POSTED BY PETE STOLCERS ON OCTOBER 6 Posted 9:30 AM ET – Yesterday the market broke out to a new all-time high and tech stocks participate. The QQQ broke through horizontal resistance and we should see a rotation back into this sector ahead of earnings … Read More