http://etfdigest.com/ Up-to-date market data, commentary, and annotated charts directly from Dave Fry. Thu, 20 Nov 2008 17:12:08 CST en-us http://etfdigest.com/daveDaily.php?id=707 http://etfdigest.com/daveDaily.php?id=707 MARKET COMMENT November 20, 2008 I thought we were dangerously on a cliff a few days ago and now we've been pushed off. There could be more trouble as an institution like Citigroup below $5 must be sold by institutions prohibited from owning stocks below that price. Alwaleed, the wealthy Saudi who owned 4% of the stock, said he was upping his ownership to 5% today. Perhaps someone tapped him on the shoulder and told him to do that to prevent more selling. dave@etfdigest.com Thu, 20 Nov 2008 17:12:08 CST http://etfdigest.com/daveDaily.php?id=706 http://etfdigest.com/daveDaily.php?id=706 MARKET COMMENT November 19, 2008 Another Big Wednesday? Oh yeah! Of course what Laird Hamilton is doing in this video is an awesome ride of guts but ultimately beautiful at the same time. We can’t say the same thing about the stock market now can we? dave@etfdigest.com Wed, 19 Nov 2008 17:02:20 CST http://etfdigest.com/daveDaily.php?id=705 http://etfdigest.com/daveDaily.php?id=705 MARKET COMMENT November 18, 2008 It’s been a day traders market and today was no exception. Another messy opening, a ramp higher, a dump lower and lastly a nice stick save higher into the close. Since headline writers don’t understand markets they write dumb things like Yahoo/Finance at the close: “Stocks End Higher, Buoyed by Late Surge”. Yeah, right. dave@etfdigest.com Tue, 18 Nov 2008 17:13:02 CST http://etfdigest.com/daveDaily.php?id=704 http://etfdigest.com/daveDaily.php?id=704 MARKET COMMENT November 17, 2008 For most of the day things were boring. The only thing that stood out to me is they sold them hard at the end again. Take a look at this 15 minute EMini NASDAQ December futures chart below from Friday. Again, it was a great time to day-trade the two way action, but also note the waterfall sell-off from 3 PM forward. dave@etfdigest.com Mon, 17 Nov 2008 16:42:28 CST http://etfdigest.com/daveDaily.php?id=703 http://etfdigest.com/daveDaily.php?id=703 MARKET COMMENT November 13, 2008 Previous lows were reasonably tested and we rocketed higher in a preprogrammed fashion. Every trading desk, hedge fund and no doubt the government had their fingers on the buy button as soon as 8000 on the DJIA was breeched. It seems too pat sometimes, but that’s the way it is. So, is that it then? dave@etfdigest.com Thu, 13 Nov 2008 17:08:19 CST http://etfdigest.com/daveDaily.php?id=702 http://etfdigest.com/daveDaily.php?id=702 MARKET COMMENT November 12, 2008 Big Wednesday again? Heck yeah! I may as well go with this video today for the image. Only the best can ride waves like this guy and it segways fittingly to todays market environment. dave@etfdigest.com Wed, 12 Nov 2008 16:47:02 CST http://etfdigest.com/daveDaily.php?id=701 http://etfdigest.com/daveDaily.php?id=701 MARKET COMMENT November 11, 2008 As long as we continue to have 2-4% intraday trading ranges as routine the environment will only be safe for day-traders. Today featured another whiplash as stocks fell sharply early, camped lower, reversed course and then reversed again. It’s enough to send investors to the chiropractor. The open lower this morning followed more bad news and sentiment regarding earnings. dave@etfdigest.com Tue, 11 Nov 2008 17:28:33 CST http://etfdigest.com/daveDaily.php?id=700 http://etfdigest.com/daveDaily.php?id=700 MARKET COMMENT November 10, 2008 Friday after the close stock futures rallied mightily and I posted that image for subscribers on Sunday. Something was up, as in someone or some group had some inside information and was running with it. The 5 minute chart below is Friday’s NASDAQ futures which included the ramp 30 minutes before the close and thereafter. That was a large 5% move with much of it on heavy volume. dave@etfdigest.com Mon, 10 Nov 2008 17:32:41 CST http://etfdigest.com/daveDaily.php?id=699 http://etfdigest.com/daveDaily.php?id=699 MARKET COMMENT November 6, 2008 There was some feedback yesterday’s image was a little over-the-top. So, I’ll be a good boy today and not try to offend the sensitive among us since the markets are offensive enough, right? There’s a lot of ink that this post election market is one of the worst in history. But, perhaps a little perspective is in order. dave@etfdigest.com Thu, 06 Nov 2008 17:04:35 CST http://etfdigest.com/daveDaily.php?id=698 http://etfdigest.com/daveDaily.php?id=698 MARKET COMMENT November 5, 2008 So, what did I miss the past three days? I didn’t make it to Chicago for the party and went to bed early. And, no, I don’t know that reveler featured above. The only thing interesting me this morning was the make-up of the US senate and that seems not to have reached the magic 60 seat level for absolute control. dave@etfdigest.com Wed, 05 Nov 2008 17:16:20 CST http://etfdigest.com/daveDaily.php?id=697 http://etfdigest.com/daveDaily.php?id=697 MARKET COMMENT November 4, 2008 The making of the president, and politics in general, changed with the dawn of the TV age. Below is a clip from the movie A Face in the Crowd released over 50 years ago. You can see how the introduction of TV reduced the election process to “sound bites” and “image management”. Please note the buzz word “change” within this clip. dave@etfdigest.com Tue, 04 Nov 2008 14:43:55 CST http://etfdigest.com/daveDaily.php?id=696 http://etfdigest.com/daveDaily.php?id=696 MARKET COMMENT November 3, 2008 There won’t be any posts until Wednesday evening. Then things should get interesting as election results will have an impact, unless expected results are already priced-in. But, I’ll be around in case there’s something noteworthy previous to then. Let’s see what happens. dave@etfdigest.com Mon, 03 Nov 2008 15:18:12 CST http://etfdigest.com/daveDaily.php?id=695 http://etfdigest.com/daveDaily.php?id=695 MARKET COMMENT October 30, 2008 Yep, it was that kind of day. Was there any good news to account for an up day? Absolutely nothing, unless you think the GDP data falling a little less than expected was something to place bets on. Nope, the market is just oversold and this is the end-of-month prop job mutual funds and a few others need. dave@etfdigest.com Thu, 30 Oct 2008 17:28:18 CDT http://etfdigest.com/daveDaily.php?id=694 http://etfdigest.com/daveDaily.php?id=694 MARKET COMMENT October 28, 2008 Well, not really. This type of rally has been building for some time given how oversold things had become. It’s also why we closed our shorts and went to cash. This rally began last night in Asia when Japanese authorities directly intervened in currency and stock markets. dave@etfdigest.com Tue, 28 Oct 2008 17:34:04 CDT