Rule update is in red: We now have over 800 accounts on the AutoTracker, although some are not being displayed because of inactivity. Being "active" on the AutoTracker simply means logging in. You don't have to make any IFT's. You just need to sign into the AutoTracker occasionally so we know you are still around.
Here is a breakdown of penalties for inactivity. If you haven't logged in for: 60 days: You are ineligible for prizes90 days: Your account
TheFed Flop - Stocks opened lower yesterday but stabilized quickly and the indices were in positive territory until... The Fed. The Dow lost 80-points and all of those losses came after the 2:15 ET FOMC announcement... Current Daily Market Commentary Market Commentary for 6/23/11
The major averages didn't stray too far from the neutral line for a good part of the trading day today as market participants waited for the release of the latest FOMC Policy Statement. When the statement came it showed that FOMC board members had voted unanimously to keep the fed funds target between 0.00% to 0.25% and reiterated that low levels will continue for an extended period of time. The Fed also plans to complete its $600 billion purchase of longer-term Treasuries by the end of June.
Yesterday I tried to convey a bullish bias that I believed the charts were suggesting, although some charts were decidedly bearish (NAHL, NYHL, and BPCOMPQ). I didn't want to go too far out on limb though as this market was not moving higher in a convincing fashion. Today was a bit more convincing as the S&P 500 jumped +1.34%, while the DOW and Nasdaq posted 0.92% and 2.19% gains respectively.
Perhaps the big money is finally front running
Another sucker rally, or the real deal? - Yesterday was day four of the bounce off of the 200-day EMA as the Dow gained 110-points. It has now gained 368-points since the low made last Thursday.... Current Daily Market Commentary Market Commentary for 6/22/11