Jobs Report Stronger Than Expected
The market is rallying again in early trading after a much better jobs report than the consensus was looking for. Nonfarm payrolls for August fell 54,000 but that was far less than the 120,000 that was expected. Moreover, private payrolls rose 67,000, which was considerably stronger than the 44,000 expected gain.

Category: General Market Tags:
Bookkeeping: Selling Half of Magna International (MGA)
This is my first foray with auto supplier Magna International (MGA), hence due to that factor plus when I bought the stock the S&P 500 was being kicked in the groin on a daily basis I started off with a modest position of 1.3% or so. The stock held up really well (versus my purchase point in the $74s) during the remaining days of the selloff, and bounced smartly the past 2 days. It is now back to the old highs so either its going to face some resistance here or break out to new highs. I will cut the position in half with a 11.5% gain in just a few days.

Category: Fundamental Analysis Tags:
Bookkeeping: Selling 30% of Amazon.com (AMZN) as Whispers Surface of Netflix (NFLX) Competition
In the market that makes no sense, Netflix (NFLX) announces an agreement with Apple (AAPL)... and then stories surface of Amazon.com (AMZN) an creating a Netflix streaming competitor. But as long as Chinese PMI and US ISM is positive, who cares... everyone can win (both stocks rally!) just like in the late 90s when the internet was big enough for everyone to win. First grade logic continues to rule.

Category: Fundamental Analysis Tags:
Guesstimates on September 1, 2010
September S&P E-mini Futures: Today's range estimate is 1055-1070. The ES is making another attempt at an upside breakout from its recent trading range. I think it will succeed and if it does the market will be headed for 1140 and higher
QQQQ: Headed for 47.50.

Category: General Market Tags:
Quick Daily Chart Update on Financial ETFs XLF and SKF
As we wind down August 2010 and get ready to start a new month soon, let’s take a quick overview look at the daily charts of leading financial fund XLF and its popular double-short (double inverse leveraged) fund SKF. There’s some interesting things to note.
First, the XLF Daily Chart:

Category: Technical Analysis Tags:
Magic Mystery Buyers at SP500 Level 1040 Define Bull Bear Battle
From a pure price standpoint, as I highlighted recently in the post “Pure Price Levels to Watch in the NASDAQ, Dow, and S&P 500,” the levels I highlighted came into play in a major way on Friday, with the market sell-off stopping in its tracks at the key test of the 1,040 level in the S&P 500.
Specifically, buyers rushed in again to scoop up shares/contracts there – creating the fourth such major bounce off this level in 2010.

Category: Technical Analysis Tags:
Top IPO’s Of 2010 (Part I) – CIS, ONE, FNGN, GDOT, SPSC

Category: General Market Tags:
Google Inc. (GOOG) - Tight 3 Day Range
Google Inc. (GOOG) will be on my watchlist tomorrow for a short term one or two day trade. As you can see in the above daily chart, GOOG is in a downtrend and is now consolidating. This is the tightest 3 day range we've seen in awhile and should trigger a large range day once the stock breaks out. This stock also put in an inside day today which adds to the potential for a large range breakout

Category: Technical Analysis Tags:
Lesson in Relative Strength Breakouts in India Nifty INDY
India’s Nifty 50 stock market index – symbol $CNXN in StockCharts.com – has been outperforming the S&P 500 not just in 2010, but off the March 2009 stock market lows.
There’s a helpful indicator or tool that doesn’t seem to be discussed all that much anymore that reveals comparative strength between markets. It’s the Relative Strength tool (not the RSI) and it’s been making breakout after breakout along the ride higher in the Nifty Index.

Category: Technical Analysis Tags:
15 Questions & Answers
My recent live interview with Charles Kirk generated quite a few questions. A number of them we were able to address during the chat, but many went unanswered.
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