Stock Market Today : July 30th - August 3rd - Page 16
That's a loaded question. Each day is unique. My biggest suggestion is to take some profits off the table for insurance. It also depends on what your target is, how long you're willing to wait to hit it, and if you have a portfolio to sit thru the ebb and flow til it gets there. Market conditions can affect the day to day trajectory. Wish it were as simple as a stock moving straight to our target. But with high frequency trading systems, basket trading, and statistical arbitrage, that doesn't happen.
"but, but, Mr Nyse, I sold that for a very good price; No, no, I don't want to buy it back, Look Wait..."
Any sellers here, ever been snake-bit by such cancels? (i could imagine it happens with the penny-stocks all the time?)
Glitches where you see a fat finger trade and there's a high or low left on the stock thats way out of line with the current stock price, Ameritrade would not issue a margin call because it was only for a split second. In today's case where many stocks opened up a prices and stayed/traded in that range for half an hour or somewhat of an extended amount of time and not just one instant, Ameritrade probably would have called you, told you to close it out or put up more collateral. If not, they would have liquidated it tomorrow or something. Usually they give you some time.
Shares of solar energy technology provider First Solar (FSLR) are up $2.06, or 14%, at $16.82 in late trading after the company reported Q2 revenue and earnings per share that trumped estimates by a wide margin.
Revenue in the three months ended in June rose 80%, year over year, to $957 million, yielding EPS of $1.27.
Analysts had been modeling $822 million and 92 cents a share.
The large surge in revenue was attributable to a number of projects having met “revenue recognition criteria” among its solar energy installations in the U.S., the company said.
Shares of competitor SunPower (SPWR) are up 17 cents, or 4.5%, at $3.95 in late trading.
CEO Jim Hughes said the company had “delivered strong performance in the quarter” despite “market uncertainties.” He said the company believes it will be able to meet a target of 2.6 gigawatts to 3 gigawatts of sales “in sustainable markets.”
Separately, the company said its board elected Hughes to the position of director. Hughes has been with First Solar since May, when he replaced founder and chairman Mike Ahearn.
First Solar will host a conference call with analysts at 4:30 pm, Eastern, and you can catch the webcast of it here.
VIX is slightly up, and VIXC is down.
TSX finished down with a slight increase in volume, at the 50% mark of the previous move up. It might also be sitting on top of a trendline, but I can't say for sure that I drew the line correctly (though I hope that I did). Intraday charts aren't looking too clear but I'd call them more bearish than bullish (for now), but after the first hour of trading it should become clear where we're headed.
SP500 is at 1375 which has been my target for the pullback this week. Applying SPY volume to the SP500 daily chart, I get a bullish picture. However, SPY itself is more bearish than bullish. Both SPY and SP500 look overextended on intraday and are due for a retracement up, which can turn out to be a beginning of a rally. At 20:00 the futures are slightly up, and the afterhours SPY has been climbing slowly up from a very nice inverted hammer.
That's about all I look at. I have a bullish feeling for tomorrow, but I don't know if it's real - I do have a long position after all.
Hoping that the Euro meeting will bring some bullish news tomorrow... and why not? Their vocabulary isn't vast enough to include bearish terms.
SPY is in a nice channel right now and I believe that 140 is easily attainable. However, it seems like for the short-term, we may be going to be hitting the lower trend-line at around 134 this or early next week. The thing is that the last two candles are showing us as being flat so far and the move to 134 might not happen. To hit this level, we would need a nice long red candle tomorrow. If that were to happen tomorrow or Friday, I'd hope to see an EOD RYFOR.
Talk is cheap... unless there has been a breakthrough in their studies of alchemy. The market has shown great patience, for a junkie, this week waiting for it's new more powerful drug. Expect to see some rapid expansion after all this contraction. Hopefully the fireworks go out all at once, lol. At least the ECB is early for the US timezones, no waiting until the afternoon for nothing. Market holding up though, wants higher, wonder if it will end up ignoring any ECB fluff or news.
Slightly trending down though:
Edited by rmejia - 8/2/12 at 7:59am