InTheMoneyStock...'s  Instablog
Send Message
InTheMoneyStocks.Com is a research and consulting company focused on mathematical proprietary techniques along with a key understanding of price, pattern and time. Through understanding geometry and other technical analysis methods, InTheMoneyStocks.Com prides itself on avoiding Wall Street hype... More
My company:
My blog:
Pro Traders Rant and Rave Blog
  • Stock Market Update: Trades Of The Day 0 comments
    Nov 11, 2011 12:30 PM | about stocks: JPM, AAPL, USO, FROOQ, STP, SPWR

    The markets are surging higher again today, following more optimism in Europe over a drop in Italian yields and the slightly less ugly debt situation. In addition, light volume due to the Veterans Day holiday in the United States allows the upside to hold and gain. As the markets advance, key stocks are making moves. Below are the keys to the trade.

    On the positive signs out of Europe, bank stocks are leading the charge today. Stocks like JPMorgan Chase & Co. (NYSE:JPM) are surging. The stock is trading at $33.69, +0.95 (+2.90%). The financial stocks must be traded with extreme caution. They go sharply higher one day, only to drop sharply the next on the woes in Europe. The exposure to debt in Europe is still not fully known and this means these stocks are purely a wild card from day to day.

    Apple Inc. (NASDAQ:AAPL) continues to show weakness. A bearish pattern was alerted early in the week,.it played out perfectly. Yesterday, Apple dropped over $10.00 yesterday and even with the massive rally today, is still flat to lower. The 200 moving average on the daily chart is still the short term target on the bearish pattern. This is at $363.00.

    Oil continues to be higher and extended. The United States Oil Fund LP (ETF) (NYSEARCA:USO) is trading at $38.11, +0.39 (+1.03%). With oil near $100 per barrel, Wall Street is either pricing in a major pickup in the global economy which is unlikely, or a major event in the Middle East with Iran. The USO is into resistance and will continue to hit resistance up to $39.00.

    As the global picture in Europe has improved, shipping stocks have started to pop off their lows. These should continue to look solid assuming things continue to improve. Key shippers that have moved in the last few days are Frontline Ltd. (NYSE:USA) (NYSE:FRO) and Genco Shipping & Trading Limited (NYSE:GNK). In addition to the shipping stocks picking up, if Europe is truly improving, solar stocks are the place to be at their current lows. Solar stocks like Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) and SunPower Corporation (NASDAQ:SPWRA) could have significant upside in the coming weeks.

    Gareth Soloway

Back To's 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


  • Utility #stocks leading markets higher despite slightly higher yields in the 10-year U.S. #Treasury. $SO, $ED, $XLU all higher today.
    Apr 20, 2015
  • $YELP Forming Bearish Chart....
    Apr 13, 2015
  • $WMT bearish base, daily 200-day ma. Should drop to the $78.00 level & present a good entry level to buy the stock.
    Apr 10, 2015
More »

Latest Comments

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.