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Provides daily commentary and analysis on the direction of the stock market each trading day.
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  • BTDStocks.com Weekly Market Notes Recap 0 comments
    Jun 13, 2011 10:41 AM | about stocks: SPRD, AAPL, LULU, VECO, QQQ, DIA, SPY

    Sunday, June 12, 2011

    Here are some notes on some of the stocks included in our focus list.

    • For Apple Inc. (NASDAQ:AAPL) its 200-day moving average at $323.83 should be a level to watch. Our ratings on the stock is bearish in both the short and long term.
    • Lululemon Athletica Inc. (NASDAQ:LULU) had a 4.4% up session on heavy volume Friday with its earnings report. Short term we rate the stock bearish but bullish in the long term.
    • Our ratings on Veeco Instruments Inc. (NASDAQ:VECO) remain bullish in both the short term and long term through the current market correction.
    Saturday, June 11, 2011
    • The next area of support for the Nasdaq Composite (NASDAQ:QQQ) is its 200-day moving average at 2,628.
    • The 200-day moving average for the S&P 500 is 1,253 below its next support level of 1,257.
    • For the DJIA (NYSEARCA:DIA) its 200-day moving average is 11,687 with 11,824 as its next area of support.
    • It will be interesting to see if the indices find support before them or make their way down to these levels and try to bounce.
    • The 200-day moving average area is generally considered a major area of support for the market indexes and stocks.
    • Check back tomorrow as we will be posting some notes on some of the stocks included in our focus list based on the current stock market direction.
    Friday, June 10, 2011
    • The action in Spreadtrum Communications Inc. was bad enough today for us to remove it from our stock focus list.  If things improve in SPRD there is a chance we could add it back to the stock focus list.  Besides we had a bearish rating on SPRD in both the short term and long term anyway.  
    • DJIA (11,824/12,058), S&P 500 (1,257/1,276), and Nasdaq Composite (2,628/2,675) support/resistance levels adjusted lower.
    • S&P 500 trying to recapture support level of 1,276.  DJIA and Nasdaq Composite below support.
    • Spreadtrum Communications Inc. (NASDAQ:SPRD) down 8.9% on heavy volume.  We have a bearish short term rating and bearish long term rating on the stock.
    • Investors must like the earnings report from Lululemon Athletica Inc. because the stock is up 4.3% on heavy volume.  We have a bearish short term rating and bullish long term rating on the stock.
    • S&P 500 gives up 1,276 support.  Are market indexes headed for 200-day moving averages?
    • S&P 500 (NYSEARCA:SPY) is holding support level at 1,276 so far.
    No positions in securities mentioned.
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