Seeking Alpha

Joshua Hayes'  Instablog

Joshua Hayes
Send Message
Joshua "MauiTrader" Hayes is CEO, President and founder of Big Wave Trading Inc., a Maui, Hawaii-based stock market advisory service. Hayes is a well-respected stock trader who combines fundamentals, technicals, psychology and money management to trade professionally for his personal,... More
My company:
Big Wave Trading
My blog:
Big Wave Trading
  • AAPL Stock Soars as Technology Stocks Lead the Way 0 comments
    Sep 21, 2010 4:45 AM | about stocks: AAPL, LCUT, JKS, RDWR, SLGLF, CHTP, RES, MIPS, SPRD, ISLN, NR, ID
    Small Cap Stocks Along with Big Cap Leaders like AAPL stock and BIDU stock lead stocks higher

    Big technology stocks lead the market with AAPL stock breaking into new highs.  BIDU stock was another big technology stock breaking into new high territory.  Another big day of gains for the market as we saw the S&P 500 break above resistance with volume coming in higher on the index than Friday’s inflated from options expiry.  This sign of strength does not come often and today proved the market’s strength.  The key has been the ability to hang onto your leaders for big gains.  We are enjoying this market rally and it appears we have plenty of room to run.

     

    There have been plenty of market pundits, including Doug Kass who have called for the market to consolidate.  Just last week Doug Kass called for the market to pull back and began shorting the market.  If the market was that easy we would have many more people making big money in the stock market.  However, it isn’t easy as support and resistance as today proved.  Doubting this uptrend has come at a hefty cost as we continue to move higher.

    We are sticking with our stocks as we are seeing continued strength and with this market cooperating we have more room to run.  Perhaps we see this market pull back for a few days but we could see a 1998 scenario when the market did not consolidate for months.  We are setting ourselves up for quite a run just make sure you are not chasing stocks by buying at proper entry levels.

    Throw out the overbought indicators at this point as we have blown through resistance levels and now we have entered into a new realm.  If we do see a pullback, make sure to pay attention to your stocks, the leaders.  Stocks are allowed to have natural reactions, but as long as they do not breach major moving averages.

    Leading stocks continue to act well and this market continues to show strength.  It is very difficult to cast too much doubt on the market.  We will stay true to our discipline and remain in control of this market.

    Top Current Holdings Up Today With Total Returns Since Purchase: LCUT 139% JKS 132% RDWR 60% LGL 42% CHTP 40% RES 40% MIPS 31% SPRD 28% ISLN 25% NR 27% ID 23%




    Disclosure: Long: LCUT JKS RDWR LGL CHTP RES MIPS SPRD ISLN NR ID
Back To Joshua Hayes' Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.