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Market Notes: Major indices breaking key support, VIX jumps-->
LOOK OUT BELOW!
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Stocks Breaking Out to New Highs Today:
AAPL,
ADAT,
APC,
AU,
BVN,
CHIP,
CNTF,
JLL,
KERX,
KGN,
MPET,
NSU,
RAD,
RBY TXICW
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Commodity Highs: Steel(
SLX), Miners(
XME), Oil Svc(
NGS,
XES,
PXJ), Coal(
KOL,
ICO), Water(
PHO,
FIW), Timber
CUT), Hogs(
CVY), Silver(
SLV)
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Sector Highs: Int'l Telecom (
TI), REITs (
VNQ), Mat'ls (
XLB), Indust (
XLI), Tech (
XLK), Insurance (
KIE)
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Bernanke fuels bull market. Next levels of resistance: DTX 413,
SPX 1100, DJI 1030, Nasdaq 2180
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Market Notes:
A lot of low-priced, thinly traded crap moving up is a sign of irrational exuberance-->caution going forward still advised.
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Market Notes: DTX breaking out, leading other indexes higher; VIX plummets and is testing previous low at 23.
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Market Notes: Profit taking in the Yen (
FXY)? Mining stocks cooling off. Market losing steam; VIX rising--will it close above 25?
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Market Notes: VIX AND market up --> use caution; Increased
M&
A activiy (3 deals today) could point to credit easing --> bullish sign
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Market Notes #2:
Heating Up: Gold & Silver bullion & miners; Gov't Bonds
Cooling Off: Homebuilders; REITs; Heavy Machinery; Reg'l Banks
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Market Notes #2:
Heating Up: Gold & Silver bullion & miners; Gov't Bonds
Cooling Off: Homebuilders; REITs; Heavy Machinery; Reg'l Banks
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Market Notes #1:
Muni ETFs making new highs but some are looking toppy.
Nat Gas (UNG, GAZ) still making fresh lows.
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Trading Tip: If SPX closes < 1000, start taking profits & protecting long positions; put options on SPY, DIA, & QQQQ are cheap insurance
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VIX jumps; Major indexes testing support levels:
SPX 1000
Nasdaq 1970
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Trading Tip: VIX back over 25. Take advantage of increased volatility to write front-month covered calls.
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Market Alert: VIX back over 25. DTX leading other major indices lower into the close.
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Market Alert: Large bottoming tail on VIX today plus topping tails on Major Indexes for second day-->market tiring? Watch the close.
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***Market Alert: Extremely low TRIN (Arms Index) (at 0.35) typically indicates a market reversal is imminent. Proceed with caution.***
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VIX breaking 25 support. The $64,000 question: Can it stay below it?
