9:00am (EST)
The bulls were dancing higher throughout the day but got tripped up by the bears in the final 10 minutes of trading. The bulls may have lost the day but the won the month as the late day pullback did little damage overall.
February is usually the weakest month in the historic 6-month bull runs from November through April but the indexes managed a positive February that usually ends with a 1% loss, on average, for the market. The Dow was on track for its first 3-day win streak in a month but was denied in the late day pullback as all of the major averages finished in the red. The bears also have a little history on their side as the first day of March has been weak in recent years so today’s close will be interesting.
The Dow fell 20 points, or 0.2%, to close at 14,054 on Thursday. The blue-chips traded to a high of 14,149 and nearly triggered our 14,200 target before fading into the close. The recent action is suggesting a topping pattern as the other indexes have lagged the Dow’s run to new highs. We felt the bulls needed to hold 14,100 yesterday and there could still be a run to 14,200 but a close below 14,000 today would suggest a top is in.
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If you are not a subscriber but would like to read more please click here. We are one of the fastest growing stock options trading advisors on the internet and we had an incredible 2012. We offer 2-3 powerful call or put option trades each week (depending on market conditions) aimed at triple-digit returns for our Daily newsletter and our Weekly Wrap Covered Call Portfolio strides for double-digit returns on a monthly basis. Together, we were 159-70 (70% win rate) for both newsletters in 2012 with over 30-triple-digit winners. Our 5-year track record from 2008-2012 is now a staggering 621-273 that is also a 70% win rate. We doubt you will find a better options trading service.
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on Friday, March 1st, 2013 at 9:00 AM and is filed under Market Analysis, Market Commentary.
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Bears Pull Upset into the Close
9:00am (EST)
The bulls were dancing higher throughout the day but got tripped up by the bears in the final 10 minutes of trading. The bulls may have lost the day but the won the month as the late day pullback did little damage overall.
February is usually the weakest month in the historic 6-month bull runs from November through April but the indexes managed a positive February that usually ends with a 1% loss, on average, for the market. The Dow was on track for its first 3-day win streak in a month but was denied in the late day pullback as all of the major averages finished in the red. The bears also have a little history on their side as the first day of March has been weak in recent years so today’s close will be interesting.
The Dow fell 20 points, or 0.2%, to close at 14,054 on Thursday. The blue-chips traded to a high of 14,149 and nearly triggered our 14,200 target before fading into the close. The recent action is suggesting a topping pattern as the other indexes have lagged the Dow’s run to new highs. We felt the bulls needed to hold 14,100 yesterday and there could still be a run to 14,200 but a close below 14,000 today would suggest a top is in.
****************************
If you are not a subscriber but would like to read more please click here. We are one of the fastest growing stock options trading advisors on the internet and we had an incredible 2012. We offer 2-3 powerful call or put option trades each week (depending on market conditions) aimed at triple-digit returns for our Daily newsletter and our Weekly Wrap Covered Call Portfolio strides for double-digit returns on a monthly basis. Together, we were 159-70 (70% win rate) for both newsletters in 2012 with over 30-triple-digit winners. Our 5-year track record from 2008-2012 is now a staggering 621-273 that is also a 70% win rate. We doubt you will find a better options trading service.
This entry was posted on Friday, March 1st, 2013 at 9:00 AM and is filed under Market Analysis, Market Commentary. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.