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As the bulls stare at one minute tickers and irrelevant oscillators, the distribution of stocks at the global level continues to gather steam. Looking at the chart, GM has been in a downtrend since 0930 hours yesterday. Not a long term chart, but an observation. Why would GM along with some of the smartest minds in the world decide to IPO on any time frame than when they can obtain the max price for their free shares dumped to the public. My advice to anyone seeking to buy GM stock because of ...

Rally needs to continue- Stocks rallied sharply yesterday, regaining the losses from Tuesday, and while the bounce off of the 50-day EMA was very important, there are still a few obstacles. The Dow gained 178-points...

Market Commentary for 11/19/10

Current Daily Market Commentary

The much anticipated GM IPO launched today and served as one of the catalysts for a market searching to stem recent losses. A lower dollar helped as the greenback shed 0.5%. And while the market enjoyed impressive gains overall, the S&P stopped short of closing above the psychological 1200 mark.

Also contributing to the bullish action was the latest Philly Fed Index, which jumped to 22.5 for November from the previous 1.0 this past month.

Initial jobless claims remained ...

Big test for the bull market- Stocks didn't exactly rebound yesterday, but they did stop going down, if that is any consolation. The Dow lost 15-points, but the S&P, the Nasdaq, the Dow Transports, and particularly the small caps and international stocks, all closed higher on the day...

Market Commentary for 11/18/10

Current Daily Market Commentary

The market began the trading day looking to bounce back from its recent weakness, but never really got in gear in what was a listless day of activity that kept to a tight range.

There was little in the way of leadership in the broader market and ecomomic data was of little interest to traders. Early this morning the October Consumer Price Index posted an increase of 0.2%, which was a bit lower than estimates, while Core prices remained flat.

Housing starts for October ...