Author Archive
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Listen to the Warning Signs
Joe Fahmy, Joe Fahmy | January 22nd, 2010 at 7:58 am
As I mentioned in yesterday’s blog, the market is flashing plenty of warnings signs:
1) The majority of stocks are in “correction” mode right now. Wait patiently for stocks to set-up again and offer attractive “low-risk” entry points.
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Recommending Caution and Patience
Joe Fahmy, Joe Fahmy | January 21st, 2010 at 7:58 am Back on December 19, I wrote about an Upcoming Rally and that the market could breakout to the upside over the next 3-6 weeks (click here to read). Since then, the NASDAQ Composite gained over 100 points, and many of the stocks mentioned in my blog performed very well:
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Some Trading Rules
Joe Fahmy, Joe Fahmy | December 31st, 2009 at 8:00 am As we enter into the New Year, I believe it is imperative to do “post analysis” of one’s trading. In other words, go back and review what worked for you last year and more importantly, correct the errors. Becoming a successful trader involves constantly improving your skills and not being blind to past mistakes. I would like to share a few trading rules which have helped me over the years:
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Similarities to 2003
Joe Fahmy, Joe Fahmy | December 30th, 2009 at 7:59 am Two weekends ago, I called for an upcoming rally in the stock market (click here to read). Many people have asked me the reasoning behind this call. First and foremost, I base the majority of my decisions on how stocks are acting, especially the leaders. Over the past few weeks, I haven’t seen much heavy selling in leading stocks. In addition, I am noticing some similarities to 2003:
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Notes for Tuesday 12/29/09
Joe Fahmy, Joe Fahmy | December 29th, 2009 at 8:09 am As a swing trader, I find it very important to analyze the volume and price action of leading stocks and of the market on a daily basis. Why? Because the market is so dynamic and can change quickly. For example, sometimes I find strong trading ideas for 2 or 3 days and then…nothing, the ideas dry up. Overall, I am still bullish and feel the market is heading higher over the next 3-6 weeks. Short-term, I wouldn’t be surprised if we have a pullback for the following reasons:
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Nothing But Stocks
Joe Fahmy, Joe Fahmy | December 27th, 2009 at 11:17 am I’m going to keep the Market Commentary brief because I have many stocks to cover. I mentioned in last weekend’s blog (click here to read) that the market would breakout to the upside over the next 3-6 weeks. Last week, this upside move began with a +3.3% gain on the NASDAQ Composite. Of course, the market will back and fill along the way; however I feel there is more upside coming and here are some stocks to focus on:
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The American Dream
Joe Fahmy, Joe Fahmy | December 24th, 2009 at 7:30 am “In 1923, seven men who had made it to the top of the financial success pyramid met together at the Edgewater Hotel in Chicago. Collectively, they controlled more wealth than the entire United States Treasury, and for years the media had held them up as examples of success.
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Observations so far this week
Joe Fahmy, Joe Fahmy | December 23rd, 2009 at 8:00 am Let’s review some positives and negatives so far this week:
Positive signs: The market continues to be resilient. The Big Caps are acting strong and many trading ideas are working out very well. Recent examples highlighted on this blog include $LULU +9.3% $HGSI +8.5% $CERN +4.9% $CML +3.8% $AAPL +2.5%. These are two-day gains!
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Stock to Watch for Tuesday 12/22/09
Joe Fahmy, Joe Fahmy | December 22nd, 2009 at 8:01 am Many of the stocks I highlighted in my weekend blog significantly outperformed the market on Monday. Examples include: $HGSI +5.1%, $BCSI +3.9%, $LULU +2.9%, $CML +2.4%, and $AAPL +1.4%. It would have been nice to see stronger volume in the overall market on Monday, however, the action of leading stocks keeps me positive.
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The Upcoming Rally
Joe Fahmy, Joe Fahmy | December 19th, 2009 at 12:07 pm I feel the market will breakout to the upside over the next 3-6 weeks. Here are my reasons and some stocks to watch:
1) Big Caps: I have said all along “watch the action of the Big Caps.” Why? Because the large institutions traffic in this area and watching these stocks can give us clues as to what they are doing. Last week $GOOG rose on strong volume and $AAPL $ISRG $PCLN $AMZN $BIDU all pulled back on light volume, a sign that the large funds are not selling their shares yet.
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Trading Ideas
Joe Fahmy, Joe Fahmy | December 17th, 2009 at 8:13 am -
Stuck in a Trading Range
Joe Fahmy, Joe Fahmy | December 16th, 2009 at 8:12 am The market continues its same pattern: rally for 2-3 days, stall for 2-3 days, selloff for 2-3 days, stabilize for 2-3 days, and then rally back for 2-3 days. The result is a three-month trading range between 2000-2200 on the NASDAQ Composite. So what do we do? The key is stock selection.
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Stocks on my Watch List
Joe Fahmy, Joe Fahmy | December 14th, 2009 at 8:01 am Over the past month, I have pointed out that the trend of low volume bothers me because it shows a lack of conviction from the large institutions. One thing that would give me more confidence in the stock market would be finding stocks that are building sound technical bases and breaking out on strong volume. While going over my weekend stock screens, I noticed a large number of stocks that are currently doing this.
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Still Recommending Caution
Joe Fahmy, Joe Fahmy | December 11th, 2009 at 7:58 am As I mentioned Tuesday night, every time the market looks weak and ready to fall apart, it seems to rebound and fool the majority. This occurred again as the market rallied Wednesday and Thursday. The one major negative: it rebounded on very low volume!
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Watch the Big Caps
Joe Fahmy, Joe Fahmy | December 10th, 2009 at 7:59 am The Big Cap growth stocks continue to act well. Even if you do not trade these stocks, observing their price action can give you decent clues about the market’s overall health since this is where the large institutional growth managers traffic. As I have mentioned in the past, many large funds are significantly under-performing the major indexes. Since their universe of growth stocks is limited, they have no choice but to “plow into” these stocks when they are “chasing” performance.
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