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Dr. Kris hails from the land o' lakes, beer, bratwurst, and Bucky Badger. She traded in her cheese hat for a propeller beanie and has never looked back. She has two degrees from MIT because one just wasn't enough. Her life goal was to figure out the universe and having done that (at least to her... More
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  • Intraday Market Notes: Chasing JP Morgan -- February 5 0 comments
    Feb 5, 2013 4:01 PM | about stocks: JPM, TTF

    3:45 pm ET: Following yesterday's sell-off arising from renewed Eurozone concerns, the major averages picked themselves up and marched right back up. Not only did they manage to erase most of yesterday's losses, but the Dow Transport Index (DTX) was able to hit a new all-time high. The DTX is considered by most to be a leader in market direction, so this is very good news for the bulls. The volatility index (VIX) dutifully slid back into its complacency zone under 14 thus keeping the bears in check. Right now, this rally is firing on all cylinders--hope you're along for the ride!

    Market Highlights: The Thailand fund (NYSE:TTF) has been on a tear since 2009, gaining a whopping 350% in the interim. However, its rally is looking long in the teeth and may be nearing the end as buying exhaustion appears to be setting in. The recent topping tails appearing in its candlestick chart pattern are evidence of this. Holders of this fund may wish to start booking profits and/or protecting their position.

    Financials have been making a strong comeback especially JP Morgan/Chase (NYSE:JPM). Today the stock broke to a new multi-year high ($48) and is close to testing resistance at $50. A break through that could propel it to its next challenge at the $65 level. Conservative investors may wish to consider adding this stock to the financial component of their portfolio (after doing proper due diligence, of course).

    I was going to insert my Trade of the Day write-up here but because of the number of charts, it'll be appearing in the articles section below.

    Note to Subscribers: There are no new entries but I'm looking at some Stock of the Day candidates.

    Stocks: JPM, TTF
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