Friday, July 16, 2010 Stock Market Commentary: Friday’s plunge negated the week’s gains as investors digested a slew of economic and earnings data. As expected, volume was reported higher than Thursday’s session on both exchanges due to options expirations. There were only 4 high-ranked companies from theCANSLIM.net Leaders List that made a new 52-week high and appeared…
Looking forward, the window remains open for disciplined investors to carefully buy high-ranked stocks. Since the current rally began on July 1, the major averages have rallied on suspiciously light volume but has improved in recent sessions. It is ideal to see volume expand as the major averages break above resistance and see a new batch of high ranked leaders trigger fresh technical buy signals. These latest improvements are helping to confirm this nascent rally and provide a reassurance that odds are more favorable for successful investing using the fact-based system.
Looking forward, the window remains open for disciplined investors to carefully buy high-ranked stocks. Since the current rally began on July 1, the major averages have rallied on suspiciously light volume for the most part. It is ideal to see volume expand as the major averages break above resistance and see a new batch of high ranked leaders trigger fresh technical buy signals. These latest improvements are helping to confirm this nascent rally and provide a reassurance that odds are more favorable for successful investing using the fact-based system.
Tuesday, July 13, 2010 Stock Market Commentary: The major averages rallied for a sixth consecutive day after Alcoa (AA) and CSX (CSX) officially kicked off earnings season and the government said the trade deficit topped $1 trillion. Volume, a critical component of institutional sponsorship, was higher on the Nasdaq and the NYSE. There were 23 high-ranked companies from the…