pullback

Today, the Federal Reserve released their monthly read of industrial production showing continued declines across many industries, particularly for those related to consumer spending, construction and business vehicles, resulting in a tepid increase of 0.2% to total aggregate production since last month and a .14% decline on a year-over-year basis, the first annual decline seen since June 2003.“

The BPO industry may witness a pullback in demand. And the silver lining is a drop in attrition rate and hiring costs.The BPO business will see a pull back in demand by the fourth quarter. Industry leaders say, incremental business is coming in from new and existing clients and the cost pressure has not dented plans significantly, atleast not for the big boys. Companies like Genpact and Accenture

Treasury Bond/Note Yields rose rapidly for the first part of June and then fell just as rapidly through the second part.  With yields testing weekly support, and failing daily support, are we due for a reversal back to the downside or a simple reassertion of the potentially newly developed uptrend? Let’s look at the 10 Year [...]

Research in Motion (RIMM), the maker of the popular Blackberry smartphone ran into some headwinds last month when it missed earnings estimated by a penny. That was enough to send the stock down 10% from a near high of $145. The market pull back further pushed the stock down all the way to $115 last week. RIMM might have missed earnings by a penny, but its earnings were far from shabby at 115% over

Stock : Aban Offshore CMP : Rs 2614 Pullback : upto 13 day EMA : Rs 3000   This stock is highly oversold and all the indicators are in oversold position so a technical pullback is possible in this stock upto the 13 day EMA which is nearly at 3000.   Timely  Exit is necessary in this stock   Happy Trading ! Source: www.marketcalls.org

Whenever there is a crash market these three counter Praj , Educomp and Sintex we can see a heavy selling but when there is a pull back there will be heavy buying and good raise in the stock price , just watch it on another crash marlet and try to invest in these three counter. [...]

Here's some interesting, and somewhat positive, data I recently came across.According to TransUnion, one of the three major credit reporting bureaus, average credit card debt has declined for the first time since early 2007. Nationwide, the average debt per credit card borrower dropped 1.25 percent to $1,673 in the first quarter of this year from $1,694 in the previous quarter.In the District, the

Today, the Federal Reserve released their monthly read of industrial production showing continued declines across many industries, particularly for those related to consumer spending, construction and business vehicles, resulting in a decline of 0.2% to total aggregate production since last month and a .06% decline on a year-over-year basis.“Final product” consumer durable goods continue to sh

Yesterday, the Federal Reserve released their monthly read of industrial production showing continued declines across many industries, particularly for those related to consumer spending, construction and business vehicles, resulting in a decline of 0.7% to total aggregate production.“Final product” consumer durable goods continue to show accelerating weakness falling 9.53% as an aggregate on

The market made a nice and necessary pullback today. A lot of stocks on my watchlist, including the major indices, were becoming a little too overbought, overextended, and pulling too far away from their moving averages. Notice on this chart how overbought QQQQ was. Also, notice that it hasn't had much of a breather since its run up from 43.50.Pullbacks are healthy and can provide nice entry points. They are also necessary to relieve overbought conditions to prepare the stock for its next move.I like the base that QQQQ has formed over the last couple of months and feel that after this pullback (which likely has a bit more to go) it will be ready to make a run at 50ish before hitting some significant resistance.QQQQ, in the very short-term (i.e. 10 min chart) doesn't look very healthy

On Friday the KSE-100 index dipped further down to a low of 15,225 and then recovered to 15,400. In the 2nd half the market opened and dived down a 100 points in a few seconds (see the graph). This was due to the announcement that the "March 2005 Crisis "  issue was to be probed [...]

Today, the Federal Reserve released their monthly read of industrial production showing continued declines across many industries, particularly for those related to consumer spending, construction and business vehicles, resulting in a tepid 0.3% increase to total aggregate production.“Final product” consumer durable goods continue to show accelerating weakness falling 3.92% as an aggregate on a year-over-year basis, with particularly significant declines coming specifically from home appliances, furniture and carpeting which declined for the twenty first consecutive month by 7.90% on a year-over-year basis.Construction supply production has been showing the most severe contraction to wood products seen in at least the last 20 years.Although automotive production has been showing weakne

I just wanted to post a chart of the Japanese Yen because this may be a pullback to buy. You'll notice that since the Yen began trending higher, the stochastics helped time every pullback. Right now the stochastics are in the buy zone which indicates this may be a buying opportunity if you believe the trend in the yen will continue higher. We'll see what happens.

The market WILL pullback...just maybe not tomorrow. Personally, I think it will but maybe only with the help of a negative unemployment report as a catalyst - so far overbought conditions haven't been enough. US markets have done little over the last two days so it will be interesting to see how it handles the news tomorrow, positive or negative. It seems like no news can drive this market lower lately but at the same time cannot put together more than a one day rally.

Today, the Federal Reserve released their monthly read of industrial production showing widespread declines across industries resulting in a 0.5% decline to production with particularly significant weakness indicated in various consumer, construction and business related durables.“Final product” consumer durable goods continue to show accelerating weakness falling 1.28% as an aggregate on a year-over-year basis, with particularly significant declines coming specifically from home appliances, furniture and carpeting which declined for the twenty first consecutive month by 9.87% on a year-over-year basis.Construction supply production has been showing the most severe contraction to wood products seen in at least the last 20 years.Although automotive production has been showing weakness s

Here is a quick tour of what some people in local real estate are writing concerning the state of the South OC and OC real estate markets. All bold in entries is our emphasis.From ocrealestateblog.com: "Real estate prices in Orange County have pulled back substantially in the past 18 months. In the City of Aliso Viejo, CA. the price per square foot in the 3rd Quarter of 2006' was $408/SqFt, and the price per square foot for detached homes now stands at $336/SqFt. "This represents a drop in values of 17.5%. This severe pull back in prices is the result of a much needed correction to the unprecedented run-up in prices from 1997 to 2006', coupled with a high rate of foreclosures caused by the easy money lending standards of the past 5 years."From Straight Digs blog: "Today, bank-owned home

This past week energy stocks got hit hard along with the rest of the market. If you look at the above chart of XLE you'll notice a few technical signals that suggest a potential buying opportunity is setting up. First of all, notice the high volume that has just taken place. In the past, whenever XLE exceeds a daily volume of over 40M for a few days, a bottom is usually established. This has

Last week, the Federal Reserve released their monthly read of industrial production showing continued weakness to various consumer and construction related durables as well as a significant pullback to general and business vehicle production."Final product" consumer durable goods have been showing some recent weakness, with particularly significant declines coming specifically from home appliances, furniture and carpeting.Construction supply production has been slowing showing the most severe contraction to wood products seen in at least the last 20 years.Although automotive production has been showing weakness since the middle of 2004, business vehicle production is now showing a stark contraction.The following charts (click for larger) show the overall consumer durable component along with the Home Appliances, Furniture and Carpeting sub-component on both a time series and year-over-year basis, construction supply production with the wood products sub-component, and general and b

As much as I claim to aspire to be "direction neutral" when it comes to the stock market, the fact of the matter is that I am an incurable bull. For better or worse, I am wired to look for stocks to buy, not for stocks to sell. Sometimes this personality quirk, as has been the case during the market weakness of recent weeks, borders on being a personality fault. Simply put, being direction neutral during the past few weeks would have softened my losses substantially. That said, if I hadn't been bullish for the previous three years my gains would have been watered down dramatically overall.The previous paragraph about my chronic pig-headed bullishness serves as full disclosure of my personal bias and is a "heads up" to any reader that mine are not the thoughts of an objective person. I suppose my nom de plume might have been a clue about my leanings as well. Hey, if you're looking for objectivity, go watch Fox News.Alright, you've been properly warned that this post is all about how

Today, the Federal Reserve released their monthly read of industrial production showing a decrease of 0.5% from September and a 1.8% increase since October 2006.More importantly though, production of “final product” consumer durable goods have been showing some recent weakness, with particularly significant declines coming specifically from home appliances, furniture and carpeting.The following charts (click for larger) shows both the overall consumer durable component of the industrial production series along with the Home Appliances, Furniture and Carpeting sub-component with two overlay blocks marking the last two recessions.Note: The second chart simply shows the same data on a year-over-year basis.As you can see, a sharp pullback on home related consumer durables seems to have been a pretty good indicator that the economy may be heading for a hard landing in the past leaving the latest pullback possibly foretelling rough times ahead.

Cramer on CNBC's Mad Money also came out in favor of YUM! Brands (NYSE:YUM) tonight. He said it is... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

There was some improvement in the KSE-100 index with a high of 12,264 and a close at 12,228. There seemed to be some buying across the board, esp. MCB which is up Rs.25 since yesterday. Lucky cement was the volume leader with 13 million shares traded. OGDC and BAFL are lagging in performance in comparison with other stocks that rose today. Hopefully the upside will continue 2moro with 12,300 being tested. A close over 12,300 would be a positive step towards 12,500. News : The combined profit of listed commercial banks has increased by 42 percent to Rs 49.7 billion in the first half of 2007 as compared to Rs 34.95 billion earned in the corresponding period last year.The impressive earnings growth was mainly driven by non-interest income of the banks… Aaj News The introduction of ‘Stock index future contract’ (SIFC), based on KSE-30 index, is ready, and the management of Karachi Stock Exchange has arranged presentation of the ‘concept paper’ on Thursday,

On the 9th of July, close to the most recent top in the markets, we featured Ralph Lauren (RL). RL was on one of the most amazing runs noticed to date. Quickly moving from $50 per share to $100. Now, Ralph Lauren has retreated to about $90 per share and is poised to move higher from here. It also looks as though RL has found a support level around this most recent stock price. Disclosure: No Conflicts.

Ok, so the pullback went further than I thought. Isn't that always the case?The problem with market timing is that it sometimes your timing is off and you miss the move. I plan on holding off on my market timing trades for a couple of weeks, but I may make some small stock purchases this week.Two stocks at the top of my watch list are Escalon Medical Corp. (Nasdaq: ESMC) and Telular Corp. (Nasdaq: WRLS).

Looks like scenario 1 did not pan out, but scenario 2 is taking shape nicely. I will give the Nasdaq a couple of weeks (maybe a month) to digest this latest dip, and then reassess my bias using my market timing indicators.

Having seen the Karachi Stock market break 13k on Friday and recover to 13,351, today saw a further recovery with a close at 13,665. Perhaps the re-instating of the ‘’possibly bent ‘’ judge helped boost the index, along with being highly oversold. Keep the Vaseline jar handy as external factors could lead to a rocky road ahead. The next resistance is 13,800. Dividends : Pakistan Premier Fund Ltd (PPFL) : 15% Bonus + 25% Cash . EPS : Rs.4.76 News :  None worth mentioning Upper Caps : Arif Habib Sec. / Arif habib Ltd / BOP / Bosicor / Callmate Telips / FCCL / Lucky cement / PPFL Market Low : 13,351.79 High : 13,665.84 Market Close : 13,665.84 — 314.05 points up  

The once dusty exchange has now been revolutionized as the center for many commodities. One in particular continues to be on the forefront of all business, Lt. Sweet Crude. The NYMEX (NMX) is one of the most powerful exchanges in the United States, with an impressive growth rate, which follows the rest of the industry. The NYMEX just had an optimistic article written in Trader Monthly and also had a major pullback off of this most recent 52 week high. Look for $5 downside and $10 upside in the short-term. Disclosure: No conflicts.

When the market rallies like it has lately, you end up with about a gazillion charts out there that look like screaming buys from a momentum perspective. Yet we all know that a good chunk of these charts are, in actuality, lying to us. A bottom feeder like me hates chasing stocks that are flying and would much rather buy a beaten up stock that has bounced. Unfortunately, in a broad rally like this one, I have to assume that the stocks that are beaten up really deserve to be beaten up.Trust me, I'm not complaining about making money. I just wish I could find a quality stock or two that are bargains at the moment. I guess I will spend a good chunk of the weekend searching for such a mythical creature. It'll keep me out of trouble, if nothing else.I sold a couple of stocks today simply because I had small gains in them that I wanted to protect and because they are scheduled to report earnings on Monday. I cashed out of CCOI at $25.75 for a 2.1% gain in less than 2 weeks (annualized retu

Late buying towards the end took the Karachi Stock market shooting up to close on its high at 11,146. The buying seemed genuine after several days of downside and not just shorters cutting their trades. DG Khan Cement was the volume leader of the day with 19.25 million shares traded. DGKC, Lucky, Pioneer, Fauji and Maple Leaf cement all closed at their upper limits on the news that India might ban cement exports (see below)The next upward resistance is 11,300. SCRA outflow for March is $28.4 million reducing the total for the fiscal year down to $528.7 million Dividends : Crescent Commercial Bank Ltd (CCBL) : EPS : Rs. (2.29)  News : India may consider banning cement exports to reduce prices, trade minister Kamal Nath said."We will look at that if that helps bring down cement prices,'’ Nath told reporters in New Delhi today. The government will have to study this step because cement is regionallypriced.'’ Indian cement makers increased the prices on March 5th

Another excellent buying opportunity is forming with the pullback of GOOG over the last  three days. It appears that my last entry and exit sequence was almost perfectly timed using just the MACD and Stochastic indicators. I will watch these indicators carefully to determine my next entry point.Click Chart To EnlargeNotice that the fast line on the MACD failed to completely break away from the slow line. It actually looks like the fast line might drop below the slow line again forming another bearish signal. This would agree with the signals being generated by the Stochastic which indicates a definite short term bearish trend. When the MACD and the Stochastic diverge like this I prefer to simply stay out of the stock until they agree on a definite direction.I expect the indicators to sort themselves out and agree on a definite trend direction by Friday of this week. I will post again as soon as I make a trade in this stock.

The KSE-100 Index made a reasonable recovery from yesterday’s close with a high at 10,673 and closed at 10,622. As seen in the graph, the Karachi Stock market was suspended for about 45 minutes in the morning , apparently due to a fire that broke out. The market has closed below its 30 and 200 DMA and 10,700 is the next upward resitance level followed by 10,900. OGDC closed way below its 30,50 and 200 DMA and has to cross 132 for further upward movement. Keep the Vaseline handy at the moment ! The names of 13 brokers accused for irregularities in future contracts, have been handed to the SECP in the 94 page report done by the forensic team. The report costing $10,638 per page , held the flawed trading system responsible for the March 2005 Crisis/crash. I still feel its a fucking criminal waste of time and money, crying over split milk nearly 18 months later ! News : Human error caused a technical fault in trading software (KATS) at KSE following Arif Habib Securities bonus ann

As expected the Karachi Stock market went shooting back up due to the postponement of the new risk management system, as directed by the SECP, to be implemented with effect from December 4 instead of Nov.6th . The SECP delayed the implementation of value at risk (VAR) management system till December 4 and the abolition of in-house badla is to be delayed till Nov. 30th. The KSE-100 index crossed its resistance levels of 11,100 and 11,200 closing on its high at 11,246. The next level is 11,400. OGDC closed at Rs. 141.75 , above its 200 DMA which was broken yesterday. NBP, POL,PPL all went up between Rs.10- 13. Banks have become fucking hot again and all the Vaseline jars have been put away. News : After a detailed meeting with the stock exchange’s management, the Securities and Exchange Commission of Pakistan (SECP) on Thursday enhanced the CFS limit to Rs 55 billion for Karachi Stock Exchange (KSE)…. Business Recorder The Securities and Exchange Commission of Pakistan (

That short-term top I thought was likely this week appears to have arrived a few days ahead of schedule. NDX has pulled back about 2.5% from Friday's intraday high to today intraday low. That is half of the maximum pullback risk of 5% that I had mentioned earlier. Now we just have to watch how sentiment reacts. If the bears all come out of their caves then we should be looking at a short sharp

In the last few days I have noted: "seasonality calls for a peak on 12/5 or 12/6 and then points down into 12/15. Also a few cycles I follow point to a low point sometime next week (12/11 to 12/15). And, I have been expecting that this pullback for the NDX might have one more leg down to the 1740 area, and possibly as low as 1720, which corresponds closely to the December options max pain for

On a very short-term basis the NDX is getting pretty extended here, and some bearish momentum divergences are showing up on the intraday timeframes. We ought to get a pullback either starting today or early next week. However, per my intermediate-term model that pullback should present a buying opportunity to be followed by further upside.

At Tuesday's close my Options Sentiment Gauge hit the .618 retracement level of it's advance off the August 2006 low. This is a key support level that should signal the end of this pullback in bullish sentiment. This is an extremely bullish development because bullish sentiment has retraced nearly 2/3 of it's rally, while the NDX has not even retraced 1/4 of it's rally (and it has even been the