Market Update 7-19-12

It looks like we are on another run today.  The bulls are charging even before the bell has rung.  IBM’s numbers are up and tech made a monster run yesterday.  I knew it would happen eventually because many of those stocks were undervalued according to my stock value calculator.  As always a rising tide floats all boats so many stocks were up yesterday.  Look for another run today at least in the morning.  I don’t like buying when stocks are high so I’m going to wait and see what happens in the first hour.  According to Day Trading Rock Star usually there’s a 9:50 reversal of the trend in the morning.  

I did get into WMT yesterday because it got real low and I was just tempted to get in.  It didn’t have the same strength as it normally does but hopefully with this bull market WMT will charge back up to its highs.

I may look to get back into MCD if it pulls back.  The technicals look good, I just want to see the 20 day moving average move closer to the 100 day on the daily chart.  It’s also trying to break through a resistance line. It’s been testing it for 5 days so I won’t feel confident until it breaks through.

MSFT has been grinding higher and has almost established its trend.  It is about to break through an important resistance level.  I’ll wait till it gets through that level and pull back then I’ll be more confident about getting in.

CTDT the speculative stock last week fell off big time yesterday.  I only had a small position in it so I’m fine but it just goes to show there are folks out there that will bang the table on a penny stock to drive it up and then take all the money and run.   The best and only way to play the market is to know the company and its value and then buy the dips, watch it rip, and sell the tips.

Market Update #2 7-13-12

I took profits on Walmart today because it hit 52-week highs twice today and I don’t believe in overstaying my welcome.  It dropped off right after I pulled out so my timing was perfect.  DNKN is pressing new highs today and is almost back from the big sell off last week.  The speculative trade this week CTDT is actually up even more and had a big spike up to .41.  I got in at .31 earlier in the week and I’m waiting for it to pop even higher.  I didn’t risk too much on this trade, I just wanted to see what it would do because of a lot of rumors surrounding it.  As they say buy the rumor, sell the news. 

Market Update 7-13-12

We had a strop pop in the beginning of the market today.  In profit territory on my Walmart trade and DNKN is starting to pop up today. Let’s see how things pan out till the close.  It’s Friday the 13^th so if you have a contrarian view it may be a day for good luck.

The speculative stock my friend pointed out CTDT is maintaining the highs and the market seems like it has a strong pressure to the upside.  

Some of the stocks that I pointed out that were undervalued like TGT have been on a run the past three days against the overall mood of the market.  So on a day like today when the overall market pops up they push even higher.  Unfortunately I didn’t get into TGT but I’ll wait for a pull back.

Market Update 7-10-12

It’s a tug of war today between the bulls and the bears.  The bulls had the morning, the bears had the noon, let’s see if the bulls take the afternoon back.

Once again Walmart is crankin for today.  If you buy the dips you are doing well when it pops up.  A friend of mine gave me a speculative penny stock, CTDT.  I’m not one to really buy penny stocks because I don’t know the fundamentals and it’s hard to read their technicals as well.  I checked this one out and it is a renamed company with a new stock symbol.  They make synthetic diamonds.  The stock was trading at 20 cents at the start of trading today and it has gone up to 32 cents.  That was a good pop.  I bought 33 shares for around 9 bucks just to see what happens.