By ITMS News on July 28th, 2010 4:27pm Eastern Time
Visa shares up 1.8% after Q3 results
Q3 operating rev $2.03 bln vs $1.65 bln
Q3 net income 97c per Class A share vs 96c
DryShips Inc. Reports Profit
Q2 of 2010, the Company reported net income of $8.7 million, or $0.02 earnings per share.
Akamai Technologies, Inc.
Revenue of $245.3 million, up 20 percent year-over-year
GAAP net income of $38.1 million, or $0.20 per share, up 6 percent year-over-year
Net income of $65.0 million, or $0.34 per diluted share, up 18 percent year-over-year
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By ITMS Education on July 28th, 2010 7:23pm Eastern Time
Many times day traders are very anxious and want to be involved in a trade all day. The market only gives a few good opportunities a day and that is when traders should react and take what the market is offering. During the InTheMoneyStocks.com Chat Room I see many traders wanting and pulling the trigger when the market is not giving the correct setup or signal to do so.
Trading is very similar to the lion in the jungle. The lion stalks his pray in the brush and he does not pick on the strongest animal in the pack. He looks for the one that is wounded or the animal that is not paying attention. Therefore, as a trader we must do the same thing. This afternoon the lunch hour trading was very slow as the volume was extremely light. However, our traders were alerted to the 110.50 support level for a bounce trade on the SPY. At 3:15 pm EST the SPY traded down into that 110.50 level and our traders bought the SPY. This was a very good support area on the chart as it was the first tag of the 200 moving average. Often the first move into the 200 moving average is a buy after an extension in price.
Patience is what pays. Patience is what gives the lion a full belly when he has not eaten all day. Take a page from nature and only take the best chart setups at the most opportune times. As a trader we cannot impose our will on the market we can only take what the market gives us.
Join The Pros: Get in-depth analysis, along with exact entries/exits, swing trades, scalp trades, and our proprietary cycles work. Join our Research Center or Intra Day Stock Chat NOW and enter the ranks of the Elite!
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By InTheMoneyStocks on July 28th, 2010 10:58am Eastern Time
This morning the major market indexes are trading slightly lower. The markets have bounced around 10.0 percent higher in the month of July. However, after such a rally a pause or pullback is common. Yesterday the markets basically finished the session flat and today it seems that we are seeing similar action.
The strength in today's market indexes are the large commodity related stocks. These leading stocks are holding up well today so far. Rarely will we see the market indexes decline sharply when these leading stocks are trading positive. Exxon Mobil Corp (NYSE:XOM) is one of those leading leading stocks that can carry the market on it's back. As we all know Exxon Mobil Corp has the largest market cap in the stock universe. Therefore, when this stock is positive it is likely that the market indexes are as well or at least just slightly negative to flat. Today this energy giant is trading higher by 0.35 cents to $61.17.
Freeport McMoRan Copper & Gold Inc (NYSE:FCX) is also trading higher by 1.16 to $70.93. When this stock trades higher is signals demand for copper which is the leading industrial metal in the market and a sign of economic growth. Therefore, rarely do the markets decline sharply with this stock trading higher.
Cliffs Natural Resources Inc (NYSE:CLF) is also trading higher today by 0.28 cents to $55.55. When this stock climbs higher it shows that the market is inflating. This stock will generally trade up when the U.S. Dollar trades down and that is the case today.
The major market indexes are all basically flat today behaving very similar to yesterday's action. When the leading commodity names are trading higher it is difficult to see a sharp decline in the market. However, should the leading commodity stocks decline and sell off the markets would likely drop sharply. Watch the leaders and today they are holding up well so far.
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eurusd..hourly21 pips by 3 reversal..hilo plotsupport is near.if that breaks then down to the lower supp area..green lines..double lines give the supp area a stronger feel
US Consumer confidence fell 4 pts in July, but remains above 50, which may sustain major equity indices above their 200-day MAs. GBPUSD touches its 200-day MA for the 1st time since January, with momentum remaining positive for a retest of $1.5580 and $1.5620. EURUSD 4-hr run the risk of calling up $1.2910 but watch out from the usual London-close volatility for a retest of $1.3070s. USDCAD shows a sharp rebound on the hourlies but beware of from failed rebounds at 1.0350s, a level proving to be a former support now a possible resistance. Oil has yet to break above $80.00 and US equity indices must close the week above their 200-DAY MAs. EURJPY finally breaks above the 113.40 resistance, eyeing next barrier at 113.90s. Weekly formation suggests further gains ahead towards 115.50.
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UK July CBI Shot up to a 3-year high at +33 from -5.0 vs. expectations of 0.0, lifting cable back to $1.55 & dragging EURGBP below 0.84. A breach above 1.5520 is likely to extend gains towards 1.5570-80. EURGBP 4-hr stochastics showing negative cross-lover, suggesting 0.8330 to loom large. CADJPY sharply recovered following the Wall St rally, eyeing 85 resistance, while USDCAD looks for the 1.0270 support. FTSE-100 hits a 6-week high near 5,400, breaking above its 100-day MA after having broken its 200-day MA yesterday for the 1st time since mid May. AUDUSD breaks above its 200-day MA, testing the 0.9070 trendline resistance from the April high. More on Aussie CPI later in the day.
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Who needs a thermometer to know that the heat-wave is on?Fofoa has just published another thoughtful paper with the title: Red Alert: Gold Backwardation!!! http://fofoa.blogspot.com. It raises the question nobody has apparently raised before: "Is the dollar bidding for gold, or maybe gold is bidding for dollars?" And it gives an amazing answer: the gold basis has been screwed and it has been giving bogus signals for more than a year. We have likely had backwardation all this time but it has been stonewalled. There is no real gold market any more. Goldman Sucks is playing with itself. Most trades are bogus, sales as well as purchases. Leases ditto. What Goldman Sucks couldn't get away in a falling market, it can in a rising one.read more, http://www.safehaven.com/article/17629/gold-basis-screwedRead more…
By Nicholas Santiago on July 26th, 2010 3:26pm Eastern Time
Most retail stocks have bounced higher since the July lows. Some stocks have had much better bounces than others. However, the entire sector is lagging the market at this time and a few leading retail stocks should be watched closely.
Best Buy Inc (NYSE:BBY) has bounced higher since it made a daily chart low on July 6th at $32.81 a share. Today the stock is rallying higher by 0.85 cents to $36.63. Best Buy Inc will have daily chart resistance around the $37.70 level which is the daily chart 50 moving average. Should the stock clear this level then the $39.00 level will be next important resistance area on the daily chart.
Bed Bath & Beyond Inc (NASDAQ:BBBY) is trading higher today by 0.53 cents to $39.25. This stock had a rough time in June when it traded as low as $35.73 a share. Bed Bath & Beyond Inc will have strong daily chart resistance around the $41.00 level. Should the stock trade above that area the next important resistance level would around the $42.00 - $42.50 area. Currently the stock looks to have found good support around the $36.00 level.
J.C. Penney Inc (NYSE;JCP) is trading higher today by 0.53 to $25.59. This stock found a low in early July and has been off to the races ever since. J.C. Penney Inc has now traded over the daily 20 and 50 moving averages which is normally a bullish sign. However, the stock is getting short term extended and should meet good resistance around the $26.00 - $26.50 area. Once the stock pulls back or consolidates it can be watched for possibly more upside.
The retail stocks continue to trade higher with the overall stock market indexes. However, this sector is no longer leading the market higher as it did throughout most of 2009. Many of these leading stocks are coming into important resistance levels and this is certainly worth noting.
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By Nicholas Santiago on July 26th, 2010 4:08pm Eastern Time
The major stock market indexes are advancing higher again today in a light volume Monday trading session. There are few notable catalysts for today's sharp advance. The first catalyst for the move higher today is the FedEx Corp guidance announcement. FedEx Corp raised estimates this morning and that is certainly helping to lift the entire Dow Jones Transportation Index higher. The other sector that is catching a bid higher is the entire energy sector.
Today two leading Dow Jones Industrial Average components that are helping the market rally are Exxon Mobil Corp (NYSE:XOM) and Chevron Corp (NYSE:CVX). Both of these stocks are continuing to move higher today. When these two integrated oil giants rise or trade higher rarely will the markets sell off or decline. These stocks will both have good resistance levels coming up on the daily chart around 2.00 points higher from the current levels. Exxon Mobil Corp should have strong daily chart resistance around the $62.00 level. Meanwhile, Chevron Corp should have daily chart resistance around the $75.75 - $76.00 level.
In any case when these leading stocks trade higher together the major stock indexes will trade higher together. The same can be said when these two stocks trade lower, the stock market will usually trade lower as well. These two major energy stocks will have resistance soon and are likely to pullback from those levels. Learn to read the charts like the Pros and Profit like them for life!
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