Free Market Video May 27 2011

May 27 – The markets ended the week as predicted….at overhead resistance levels. This will make it difficult to determine how to trade after the three day weekend which is precisely the way the market prefers. After a sizable gap down on Monday the markets recovered most of the drop but the push wasn’t all that strong. This still leaves us in a very well defined channel and me in a flat neutral bias on the markets.

Free Market Video May 25 2011

May 25 – Yet another consolidation day with the internals barely showing a heartbeat. Markets are obviously getting ready for a bigger move but the direction is in no way clear as of yet. I can make a pretty strong bull AND bear case and when that happens I just sit on my hands and wait.

Free Market Video May 23 2011

May 23 – Big gap down to start the week but we wandered all day long after the initial open. That gap down put us at lower support where the bears didn’t allow the bulls to launch it up quickly and the bulls didn’t allow the bears to drag it below the stronger levels. Overall a good move for the bears and now we watch for new lines to be broken. Short trades that were placed last week are still working out nicely so stay with them! Make the bulls prove it to you before running for cover on your trade.

I have been throwing around the idea of opening a trading room for a monthly fee and have had good response from my subscribers so far. If you’d be interested in a service such as that send me an email at info@thestockmentor.com and I’ll add you to my mailing list of people to contact when I’ve worked out the specifics.

Free Market Video May 20 2011

May 20 – CNBC via Google Finance reads “Stocks End Lower for Third Straight Week”. Like there’s some big bear push going on or something. The S&P was down .34% for the week……big whoop. Neither side is really all that anxious to move the market one way or the other. Makes you wonder what the big guys know that we don’t. Overall the markets remain in a bull flag which is, well, bullish.

Free Market Video May 18 2011

May 18 – Another move up today and the formation shows a nice bull flag on most of the Indices. The volume wasn’t spectacular but the buying overall wasn’t too bad actually. This volume isn’t all that unexpected based on the formation and certainly isn’t indicative of a bearish move so you can’t let your bias get the better of you in here. Let the charts work themselves out and watch for the new support or resistance areas to break for your direction and trades.

Free Market Video May 16 2011

May 16 – A short recovery to start the day wasn’t enough to light a fire under the bulls as it was the bears that took over in the afternoon. Are we seeing a shift in market sentiment or is this just a head fake as we go deeper into options Expiration week? Some lines of support fell while others held by the time the closing bell rang. Seems there is a bit more weakness in the NDX which isn’t always good for the rest of the markets but it has been fantastic for the AAPL short I suggested last week.

Free Market Video May 13 2011

May 13 – The entire week ended up being nothing more than a big consolidating triangle. Still impossible to know where the next move will take us but you can expect some volatility next week after a week of consolidation and entering Options Expiration. Fantastic breaks on FAS, FAZ and AAPL today which led to some very tasty profits so the week wasn’t a total waste.

Free Market Video May 11 2011

May 11 – Bears finish the day in the red but as you can see on the charts there’s really nothing too serious quite yet. Lower levels of support all held so tomorrow should be a deciding factor as to just how serious the bears really are. We may just be in a consolidation phase here and if that’s the case the break may not happen for a few more days. AAPL is worthless right now a tradable equity and has been for some time. The break, when it happens, could be very strong!

Free Market Video May 9 2011

May 9 – Markets are sideways all day with the exception of one pop to the upside about mid day. Seems the Greek debt is actually good news? Truth is the market could really care less about anyone’s debt right now so the worry just isn’t there for the time being. Will that change soon?

Free Market Video May 6 2011

May 6 – Bulls started the day with a strong gap up but couldn’t hold the momentum the rest of the day. For the week the Indices did a nice job of holding support and for the time being this is just another bull pullback in the markets.

Next Page »