InTheMoneyStocks Daily Analysis - Page 67

It Is Friday, What Else Could You Expect? 

Ah, the markets are surging higher today after yesterday's bloodbath decline. Well, this should not be a real surprise to traders. By now, we should all know that the stock market rarely declines on a Friday. You see, Friday is the end of the work week for most people. Therefore, if someone comes home from work and sees the Dow Jones Industrial Average(DJIA) lower by 100.00 points they are likely to save their money instead of spending it. Most retail stores, restaurants, and other entertaining venues will do the most business on the weekend. If the average Joe comes home and sees a stock market crash or sharp decline he will think differently about spending his hard earned money over the weekend.

If you look at a chart of the Dow Jones Industrial Average over the past two and a half years you will notice that there have been less than a dozen Friday's where the market has declined by more than 100.0 points. This is because the powers that be need the U.S. consumer to spend money. All of this weak dollar stuff that the Federal Reserve and other central banks have done, such as the zero percent Fed funds rate since December 2008, $1 trillion QE-1, and the current $600 billion QE-2 , will only work if the U.S. consumer spends money. Please remember that consumer spending accounts for roughly 70.0 percent of the gross domestic product(GDP) in the United States.

The Federal Reserve boss, Ben Bernanke, wrote exactly about this many years ago. Basically, he says if the stock markets are higher than the public will feel better. He is actually correct if you look at the Friday effect. The central bank controls the stock and commodities markets by the amount of cash reserves they create. The only negative for the Bernanke theory is that by creating cash he also creates inflation. When goods become too expensive due to inflation the economy will ultimately suffer. Just look at the price of gasoline, food, and most other commodities recently. However, the party for the stock market will usually last until that final point of inflation becomes too much pain for consumers. Since March 6, 2009, the inflation party has been in full force. Yesterday, the U.S. Dollar finally surged higher and look how quickly that inflation party came to an end. Today, the U.S. Dollar is trading flat and the party is back on. Today is also a Friday, the volume is extremely light, and the government job report was much better than expected.

Since the tech wreck, and the dot com bubble burst, in the year 2000, the solution for the stock markets by the central bankers has been to weaken the U.S. Dollar. That was tried by the former Federal Reserve boss, Alan Greenspan, in 2002 which lead to the greatest stock decline since the Great Depression in 2008. This time around the current Federal Reserve boss, Ben Bernanke, has done much more stimulus and money creation than Alan Greenspan ever did. This method that the central bank uses is really just playing yo-yo with the U.S. Dollar. Last year, the U.S. Dollar Index surged higher from November 2009 until June 2010 and that surge in the dollar caused the stock market to stage it's first 17.0 percent correction since the inflation rally began in March 2009. This is a direct correlation to the U.S. Dollar Index and that is still all that really matters. At this point in time the stock market cannot stand on its own two feet with a falling U.S. Dollar. This is unlike the 1990's when the stock market and the dollar rallied higher together. When the dollar and the markets can trade higher together that is real wealth. Right now, when the dollar trades lower and the stock market trades higher that is just a trade off. Wealth is not created when that happens, and hopefully the equity you have has increased more than the dollar has declined. There is really nothing gained here.

Oh well, let us enjoy the Friday rally and remember to spend some money this weekend. Please keep an eye on the U.S. Dollar, if that green piece of paper catches a bid today's rally may not last very long.

Nicholas Santiago
InTheMoneyStocks.com
 

Stronger U.S. Dollar Index Halts Stock Market Indexes

Monday's are notoriously a light volume trading session which usually favors the upside action in the major stock indexes. This morning the trading volume is extremely light as the SPDR S&P 500 Trust(NYSE:SPY) is trading just 29 million shares as of 10:28 am EST. Normally, light volume will often help to lift the major stock indexes, however, the U.S. Dollar Index is also trading higher by 0.34 cents to $75.07 per contract. When the dollar trades higher the major stock market indexes will usually deflate and trade lower. That is exactly the case this morning, as the Dow Jones Industrial Average, S&P 500 Index, and the NASDAQ Composite, are all trading slightly lower this morning. 

Nicholas Santiago
InTheMoneyStocks.com

 

Dollar: Small Pull Back Likely, But Bottom In 

The Dollar has ripped higher over the last three trading sessions. This dramatic move has signaled a bottom in the near term. This now means pull backs in the Dollar can be bought and bounces on the Euro can be shorted.  The PowerShares DB US Dollar Index Bullish (NYSE:UUP) has jumped from $20.84 last Wednesday to a high today of $21.55. This is a monstrous move for any currency and must be respected. In response, the Euro has collapsed with the CurrencyShares Euro Trust (NYSE:FXE) dropping from $148.81 to a low today of $142.01.

In the next few days, expect a pull back in the Dollar and a bounce in the Euro. The Dollar is into major resistance with the 50 moving average on the daily chart. In addition, this is a three day move and this mega move is notorious for a pull back. In addition, the FXE hit the 50 moving average on the daily chart and this signals a coming bounce in the Euro.

After this pull back in the Dollar, the Dollar can be bought. In addition, on any solid bounce, the Euro can be shorted. This is simply because a pivot bottom has been put in on the Dollar and a pivot top is now in on the Euro. The reversals in each chart have begun.

Gareth Soloway
InTheMoneyStocks.com

RealTick® graphics used with permission of RealTick LLC.

Buy: Two Stocks Nearing The Master Level 

The market is just slightly off of a mega top. Recently, the SPDR S&P 500 ETF (NYSE:SPY) hit $137.18 before reversing last week. The markets reversed primarily because the Dollar made a bottom and began to spike higher. While the markets seem toppy and may be seeing further downside, there are some stocks that are starting to look attractive.

Research In Motion Limited (NASDAQ:RIMM) has been crushed in recent months. Margin pressure, competitors like the iPhone and Droid are hammering profits across the board. The stock has been hit accordingly, dropping from a 52 week high of $70.54 to a current price of $44.86. The key to this trade is the pivot low from August 31st, 2010. This low level was $42.90 and represents a beautiful double bottom for a buy. The stock should find significant support here.

Marvell Technology Group Ltd. (NASDAQ:MRVL) is another tech stock that has been crushed in 2011. On January 19th, 2011, MRVL was trading as high as $22.00 before collapsing to its current level of $14.65. MRVL is in the semi sector and while many semiconductor players have been hot, MRVL has been cold as ice. While the chart looks ugly, it does show significant support at August 12, 2010 low of $13.90. This represents a buy level and should be utilized as such.

Gareth Soloway
InTheMoneyStocks.com
 

Dollar Falls Off Highs Giving Market Solid Lift 

The Dollar spiked higher for the third straight day with one small difference. Today, the Dollar pulled back into lunch, giving the markets a solid pop. The Dollar trades inversely to the markets and anytime the Dollar falls, the markets will move higher. Note the chart below. The PowerShares DB US Dollar Index Bullish (NYSE:UUP) hit a high today of $21.55 before falling sharply in the last hour to $21.46. This fall coincided perfectly with the SPDR S&P 500 ETF (NYSE:SPY) pop into the 200 moving average on the intra day ten minute chart.

The markets are having a normal Monday float higher. After a weekend, especially one with a holiday like Mothers Day, the markets have a tendency to have light volume and also float higher. Commodities are popping today with oil, gold and silver all surging. Key stocks leading the up move in the markets are the beaten down commodity plays like Exxon Mobil Corporation (NYSE:XOM) and Chevron Corporation (NYSE:CVX).

Gareth Soloway
InTheMoneyStocks.com
 

The Federal Reserve Is Stuck Between A Rock And A Hard Place

We have all seen this act before, the U.S. Dollar Index makes an early move higher and then declines sharply from its intra-day high. Well, this is exactly what occurred today around 10:30 am EST as the U.S. Dollar Index pulled back. The effect from the intra-day dollar decline was a sharp move higher in most commodities.

WTI oil surged higher by $5.37 to $102.55 a barrel. That is a rally of more than 5.00 percent on the session. The United States Oil Fund(NYSE:USO) is trading higher $1.73 to $40.60 a share. The iPath Dow Jones UBS Copper Total Return(NYSE:JJC ) also benefited from the U.S. Dollar Index pullback. The JJC rallied higher $1.03 or $53.30 a share. Gold and silver also surged higher this afternoon. Silver was the big winner rebounding over 6.5 percent to $36.78 a share.

The Federal Reserve seems to be stuck between a rock and a hard place now that the market leading commodities are trading inverse to the U.S. Dollar Index. If the U.S. Dollar Index was to decline or pullback further the commodity complex looks as if it would go wild to the upside once again. High oil, gasoline, and other commodity increases will eventually have a negative effect on the inflation rally by the central banks.

Nicholas Santiago
InTheMoneyStocks.com

It Is All About The Dollar

Does any takeover, or economic news in the market really even matter anymore? Today, Microsoft Corp.(NASDAQ:MSFT) bought Skype for $8.5 billion. The stock market does not care about that deal. The stock market only cares about the U.S. Dollar Index. If the U.S. Dollar Index dips or declines the major stock indexes will trade higher and vice versa. Nothing else even matters at this point. Wall Street simply wants to know if the inflation rally is still on or is it off.

Last Friday, the government reported a much better than expected job report. The major stock indexes soared higher after the announcement. However, once the U.S. Dollar Index traded higher that rally faded throughout the day and the major stock indexes barely closed higher on the day. The Wall Street computer algorithms are programed to trade inverse to the U.S. Dollar Index. Often the major stock indexes will trade inverse to the U.S. Dollar Index tick for tick. The same type of action can be seen this morning and it is not yet 10:00 am EST right now.

Everything inflates higher when the U.S. Dollar Index trades lower. The entire stock market rally from March 2009 has been on a weaker U.S. Dollar Index. In fact, the only corrections that the stock market has seen have been when the U.S. Dollar Index rallied higher. Oil, gold, silver, copper, coffee, cotton, gasoline, and almost every commodity except natural gas have benefited from a weaker U.S. Dollar Index.

The problems in Europe do not seem to be going away anytime soon. Greece is looking to possibly leave the European Union if they do not get more favorable borrowing terms. The problem is that if Greece does get new borrowing terms countries such as Ireland, and Portugal will also look to get more favorable lending terms. This is just another domino effect that will take place in the European Union. Should all of this transpire in Europe over the next few months then the U.S. Dollar Index could actually trade higher. Hence, when the dollar is higher the inflation rally over.

It will be very interesting to see how the central banks are going to handle this situation. Obviously, they will need to keep the U.S. Dollar Index down at all costs in order to keep asset prices inflating higher. Right now the CME continues to increase margin rates on many of the leading commodities in order to keep these prices from climbing. We shall see how they try and accomplish this task in the coming months.

Nicholas Santiago
InTheMoneyStocks.com

United States Gasoline Fund Nears 52 Week Highs Again

This morning the United States Gasoline Fund(NYSE:UGA) is surging sharply higher. The UGA is trading higher this morning by 0.94 cents to $55.14 a share. The 52 week high for the UGA was made on May 2, 2011 at $56.00 a share. This level will still be a minor resistance area, therefore, short term traders should watch for intra-day resistance around this level.

The average price of gasoline in the United States is now $3.95 a gallon. We can only wonder when margin rates will increase for gasoline in order to drive the out the evil speculators. Maybe the high price of gasoline is caused by a weak U.S. Dollar. After all, the U.S. Dollar is trading lower this morning. It is important to remember that higher gasoline prices are a direct tax on the U.S. consumer.



Nicholas Santiago
InTheMoneyStocks.com
 

WalMart Stores Inc.(NYSE:WMT) is the world's largest retail company. The stock is pulling back a bit this morning. Short term traders can look for intra-day support around the $55.00 area. Traders should just look for a quick bounce around that level.



Nicholas Santiago
InTheMoneyStocks.com

 

Technology: The Haves And Have Nots 

As the markets float higher today, technology is showing up mixed, with some key named stocks leading and some lagging. This divergence has been going on for the last few months and looks to be separating the strong from the weak. The weak stocks should be avoided in the near term while the stronger plays should be bought on pull backs.

The clear leader of late has been Amazon.com, Inc. (NASDAQ:AMZN). After reporting great revenue numbers in their last quarterly statement, the stock has been a monster, pushing through $200.00 per share. Today, Amazon is trading at $203.49, +2.69 (+1.34%). Amazon will likely move to the $210.00 level before pulling back. The strength it is showing, tells traders to buy the pull backs.

Another leader in tech land is Intel Corporation (NASDAQ:INTC). Going into earnings, expectations were low and the stock was wallowing in purgatory. However, after blowing out earnings expectations, the stock has jumped, nearing its 2010 highs. While this level will be resistance, this tech giant has regained its shine and will most likely be a favorite buy on pull backs.

As some stocks shine, some must also be falling out of the spot light. Apple Inc. (NASDAQ:AAPL) is probably the best example of a stock that appears to have lost its shine. Over the past two years, if the markets were going to rally, Apple had to lead it. Over the last month, Apple has barely had an up day, even when the markets were hitting new 52 week highs. There has to be major concern over the price action in Apple lately. Even today, the stock is trading at $347.12, -0.48 (-0.14%) while the Nasdaq is higher by half a percent. As of now, one must believe Apple will collapse quickly on any market weakness.

Gareth Soloway
InTheMoneyStocks.com
 

Financial Stocks Death Spiral

The financial stocks have been weak throughout 2011 as the Federal Reserve QE2 comes to a close. New rules and regulations have hampered them as well. As the markets have recently hit new 52 week highs, many financial stocks have made or are near new 52 week lows. Today, as the markets uptick again, financial stocks are finally catching a little bit of a bid and moving higher.  Goldman Sachs Group, Inc. (NYSE:GS) is trading at 150.24, +1.12 (+0.75%) while JPMorgan Chase & Co. (NYSE:JPM) is trading at $45.25, +0.29 (+0.65%). Bank of America Corporation (NYSE:BAC) and Wells Fargo & Company (NYSE:WFC) are also up approximately one-percent on the day.

While the financial stocks are seeing a rare move higher, it is likely they will see more downside in the near term. None of these stocks mentioned above have solid support. Goldman Sachs has major support at $143.00, JPMorgan at $43.00 then $42.00, Bank of America at $11.50 and Wells Fargo at $26.50.

These levels are key supports and should they hit, then these stocks will have a reward to risk that is worthy of a long. Until then, today appears to be a minor dead cat bounce in an otherwise ugly sector.

Gareth Soloway
InTheMoneyStocks.com
 

Light Volume And The Falling Dollar Save The Day 

Is this May 10, 2011 or August 10th, 2011? Where has all of the volume gone? This is one of the lightest trading volume sessions of 2011. As we should all know by now, when the trading volume is very light that will generally favor the upside in the stock market. This afternoon the SPDR S&P 500 Trust(NYSE:SPY) is trading just 69.3 million shares as of 2:45 pm EST. What a joke! Just three trading days ago the SPY traded over 222 million shares. How can the volume change so dramatically. The Citigroup Inc.(NYSE:C) 10 for 1 reverse split can't be the total blame for the light trading volume.

The U.S. Dollar Index(DXY) is now trading lower by 0.10 cents to to $74.63. The DXY did trade as high as $74.86 this morning before declining lower on the trading session. Again, as we all know by now when the DXY declines the major stock and commodity indexes will trade higher.

So there you have it. Light volume that is reminiscent of the summer doldrums and a falling U.S. Dollar Index lead to a higher stock and commodity market. Even crude is trading higher today and that move higher comes after margin hikes. Every trade is essentially a trade on the DXY at this time.

Nicholas Santiago
InTheMoneyStocks.com

U.S. Dollar Rallies, Will It Fade?

The U.S. Dollar Index(DXY) is trading higher this morning by 0.24 cents to $78.85 per contract. As we all know by now, when the DXY is trading sharply higher the major stock indexes will usually trade sharply lower. That is exactly what is happening this morning. The problem with the DXY is that when it trades higher in the morning it will often make a high and usually fade throughout the rest of the session. As soon as the U.S. Dollar Index declines intra-day the major stock indexes will inflate and trade higher again. The same effect will be seen in most of the leading commodities such as oil, gold, silver, gasoline, and copper. In other words if you can control the dollar you can control the stock and commodity markets.

There is really only one institution that we know of that can really move the U.S. Dollar Index and that is the Federal Reserve. Since the Federal Reserve announced its quantitative easing program in late August 2010 the U.S. Dollar Index has declined sharply. In fact, since June 7, 2010 the U.S. Dollar Index has dropped by as much as 17.0 percent. If the DXY falls everything else in the stock market trades and inflates higher.

This week the U.S Treasury is auctioning off almost $100 billion in new bonds. Therefore, the it is usually easier to sell those notes if the U.S. Dollar Index strengthens. Is the recent five day climb in the U.S. Dollar Index(DXY) just another propping stunt by the Federal Reserve and the U.S. Treasury so that foreign governments will buy our bonds? We shall see. In any case the DXY is trading higher today and that can only mean that the major stock indexes will be under pressure as long as the dollar trades higher.

Nicholas Santiago
IntehMoneyStocks.com

Energy Stocks Plummet

This morning, the weak sector in the stock market is the energy sector. The leading integrated energy stocks such as Exxon Mobil Corp.(NYSE:XOM), Chevron Corp.(NYSE:CVX), and ConocoPhillips(NYSE:COP), are all trading lower by more than 1.50 percent. When the big three decline it is prudent to expect the rest of the major energy stocks to decline or trade lower.

Most of the leading coal stocks are trading lower as well. Stocks such as Peabody Energy Corp.(NYSE:BTU), James River Coal Co.(NASDAQ:JRCC), and Alpha Natural Resources(NYSE:ANR), are also under selling pressure. When different industry groups in the energy sector are trading lower this tells us that the entire energy complex is under distribution or institutional selling.

The stronger U.S. Dollar Index is obviously the catalyst for the energy decline. Short term scalp traders can look for a bounce in many of the energy stocks when the U.S. Dollar Index(DXY) pulls back. At this time the DXY is very strong trading higher by 0.36 cents to $74.98. As long as the DXY trades higher most energy stock could decline further.

Nicholas Santiago
InTheMoneyStocks.com

The Next Small Cap Runners

Small stocks have been ripping over the last week and today is no different. With stocks like Quantum Fuel Systems Technologies (NASDAQ:QTWW) and OXiGENE, Inc. (NASDAQ:OXGN) up over 100% from their lows in just days, all eyes must be peeled for the next small cap runner.

The small plays on watch are rated based on market capitalization, float, and where they reside on their charts as well as the hot sectors. These factors are key in understanding the next small 100% mover in a day or two.

FuelCell Energy, Inc. (NASDAQ:FCEL) is a prime candidate in sympathy to Quantum Fuel Systems. FCEL traded all the way to $2.25 six weeks ago and has fallen since then to the 200 moving average on the daily chart at $1.57. The market cap on FCEL is $125 million which puts it at the upper range of size but still alright. This is on watch for a possible spike higher.

Biostar Pharmaceuticals, Inc. (NASDAQ:BSPM) is a small Chinese biotechnology stock that is trading at the dead lows. With all the fear of fraud in the reverse merger arena for Chinese plays, this stock has been hit drastically. With a P/E of just over 2, it looks to be a possible bounce candidate in the short term. Other Chinese stocks have jumped higher like Fuwei Films (Holdings) Co., Ltd (NASDAQ:FFHL), spiking close to 100% in the last three trading days. Based on the chart, this may be a 50% mover to the upside in the short term.

Last but not least is ARCA biopharma, Inc. (NASDAQ:ABIO). This biotechnology stock is trading at a market cap of  $20 million. They just inked a major deal with a large pharma company and are at the dead lows of the chart. This fits a perfect sympathy play to OXGN which is up well over 100% in the last few days.

When one trades small capitalization stocks, there is always risk. However, with the risk, there is the possibility of monster rewards. The stocks above may be the big movers in the coming days. Watch them closely,

Gareth Soloway
InTheMoneyStocks.com
 

Choose: Stronger Dollar Or Higher Markets 

Politically it is a tough decision. What will get you re-elected? What is best for the American people in the short run and long term? A higher stock market or a stronger Dollar. Very few average Americans understand that we cannot have both. The stock market moves 100% inverse to the stock market. Dollar up, market down. Dollar down, market up. Today, the stock market is slightly lower with the SPDR S&P 500 ETF (NYSE:SPY) trading at $135.28, -0.59 (-0.43%). Why is the market lower today? The Dollar is rising. The PowerShares DB US Dollar Index Bullish (NYSE:UUP) is trading at $21.47, +0.09 (+0.42%).  Please recognize that the percentage the Dollar is up, is identical to the percentage the markets are down.

The Federal Reserve has wanted a weak Dollar policy since this crisis began. In fact, even far before that. The weaker the Dollar the higher exports. Trade balances adjust and overall it is a more even playing field for the United States when it comes to selling and buying goods. In addition, more recently the Federal Reserve found that they could manipulate the stock market by pushing the Dollar lower. Ben Bernanke has fought long and hard to put into effect his thesis paper from way back in the day. This thesis basically said, to create a recovery, the powers that be must make people believe there is a recovery, then it will happen. Essentially fooling the average American. While in theory this may be something to like, reality happens to have consequences.

While dropping the Dollar and pumping trillions of Dollars into the economy helped in the short term, the questions remain whether or not the recovery will last. In addition, as commodity prices surge, the average American struggles to pay for food and energy, has a weaker Dollar really helped? In addition, is the weak Dollar policy, which is forcing the markets higher, really helping? In reality, a higher stock market and weaker Dollar helps those who invest heavily. The richer Americans do not care much if food and energy costs go higher as they can afford it. In addition, as long as they are invested, the weaker Dollar drives up equity prices, thus offsetting the rising cost of good for them.

On the other hand, the poorer Americans are getting the short end of the stick. Not only do they not have significant investments, or even any investments but the rising costs of food and energy of creating a catastrophe. Bottom line is this. Who is this policy really helping? Is it just another way to enlarge the gap between rich and poor? What is better? A weaker Dollar for exports and the market or a stronger Dollar for the average American?

Gareth Soloway
InTheMoneyStocks.com
 

Can The U.S. Dollar Index Decline Enough To Save The Markets?

Since the weekly initial claims number was released at 8:30 am EST this morning, the U.S. Dollar Index(DXY) has declined lower. When the U.S. Dollar Index declines the major stock market indexes will inflate and trade higher. It now seems that computer programs are trading directly inverse to every move in the U.S. Dollar Index. Look at the chart below, you can easily see how the S&P 500 e-mini(ES M1) contract trades higher on any U.S. Dollar Index pullback.

Traders should watch for moves higher in the leading commodity and energy stocks if the U.S. Dollar Index pulls back intra-day. Some stocks that have a tendency to react quickly from moves in the U.S. Dollar Index include Freeport McMoran Copper & Gold Inc.(NYSE:FCX), Cliffs Natural Resources Inc.(NYSE:CLF), and United States Steel Corp.(NYSE:X). Remember, traders can look for these names to trade inverse to the U.S. Dollar Index.

Nicholas santiago
InTheMoneyStocks.com

Cloud Stocks Flying High

This morning, the major stock indexes are all coming under some selling pressure. However, there is one group of technology stocks that are trading higher just after the opening bell and they are the cloud computing stocks. Traders should always keep an eye on a group of stocks that seem to be bucking the short term trend as the stocks have good intra-day relative strength. Therefore, if the major stock indexes begin to trade higher these stocks could see further gains in the trading session.

Some of the leading cloud computing stocks that are on the move this morning include F5 Networks Inc.(NASDAQ:FFIV), Riverbed Technology Inc.(NASDAQ:RVBD), Netapp Inc.(NASDAQ:NTAP), and VMWare Inc.(NYSE:VMW). These are some leading cloud computing stocks that are trading higher in down market. Therefore, should the major stock indexes catch a bid higher later in the trading session these stocks could see further gains. At the moment, most of these stocks may need to pause or consolidate intra-day before making a move later in the trading session.

Nicholas Santiago
InTheMoneyStocks.com
 

The Ultimate Safety Stocks

Whenever the major stock indexes come under selling pressure or even have a correction there are a few stocks that seem to be safety stocks. These are stocks where investors will immediately flock to and park their money in order to weather the storm. These stocks are Procter & Gamble Co.(NYSE:PG), Colgate Palmolive Co.(NYSE:CL), Johnson and Johnson(NYSE:JNJ), and Coca-Cola Co.(NYSE:KO). These are stocks that make products that very few people can live without. All of these stocks distribute dividends and are held by many leading mutual funds. Therefore, whenever the stock market starts to sell off or have a market correction these stocks will see buying interest increase.

At this time, Procter & Gamble, and Colgate Palmolive have very strong daily charts patterns. These stocks are very close to trading around their 52 week highs. The current chart patterns for these stocks indicate higher prices as they are trading above all of their major moving averages.

Nicholas Santiago
InTheMoneyStocks.com
 

End Game: The Strong Keep Chugging 

In a market frightened by the end of QE2, ugly Jobless Claims numbers and commodity prices that seem to be moving faster than a small cap stock, Intel Corporation (NASDAQ:INTC) and Amazon.com, Inc. (NASDAQ:AMZN) keep pushing higher. These two stocks were probably the best performers following their earnings releases in the last month. Both stocks soared on earnings and even with the weak market, have done little but continue higher.

Intel looks destined for a double top from its 2010 highs at $24.25. This will be the beginning of major resistance for a stock that has jumped from under $20.00 per share prior to earnings to its current level of $23.65, +0.24 (+1.03%).

Amazon continues its upward climb, now over $200.00 per share. This stock reported stellar revenue numbers as the online retailer seems to have growth in the title again. The stock will enter a resistance area around $210.00 to $215.00.

Gareth Soloway
InTheMoneyStocks.com