Sample Market Comments
Steve Bigalow's Morning Market Comments:
Good Morning -
Although there has been some weakness in the markets this morning, do not expect too much movement on a Friday in late August.
GSIC has opened higher, above the 50 day moving average, and moved up nicely. We would be a buyer while anticipating another $4 to $5 potential movement to the upside.
CKXE has not moved yet today but we would not be afraid to be buying it after the Scoop formation.
TRID is one that we mentioned in the chat session last night. It can be bought on the strength this morning.
Crude Oil prices are trading at an important level, the $67.50 area has acted as a resistance level over the past couple of weeks. If it forms a bearish signal today, a Double Top may become significant.
Steve Bigalow's Afternoon Market Comments:
Good Afternoon -
Once again the Crude Oil prices are the critical factor for the movement of the stock markets. The $67.50 area has acted as a resistance level for the past two weeks. The failure today, a Bearish Engulfing signal, formed a Double Top in Crude Oil prices. A pullback from these levels could add some new strength to the equity markets.
GSIC can still be bought on its strength above the 50 day moving average today.
CKXE was bought as it came back up through its opening price later in the morning.
CMOS was closed immediately on the gap-down this morning after an announcement last night, the earnings report. The formation of the Kicker signal today would warrant watching for a short situation.