LGF just surpassed all estimates with its Film the Hunger games this weekend and is breaking records left and right.
http://www.boxofficemojo.com/alltime/weekends/
It had a pull back on Friday, due to some thinking it was overhyped, they were wrong!
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LGF Buy it Monday!
LGF just surpassed all estimates with its Film the Hunger games this weekend and is breaking records left and right.
http://www.boxofficemojo.com/alltime/weekends/
It had a pull back on Friday, due to some thinking it was overhyped, they were wrong!
A Weekly Look -- Week Ending 3/23
The dollar peaked on day 11.
Friday was day 17 and the dollar formed a lower low.
Chemicals Index (^CEX) - Quick Takes Pro Chart of the Day
March 23, 2012 - Chemicals Index (^CEX)
Dave Landry's Market in a Minute - Friday, 3/23/12
Random Thoughts
The Ps pulled back a bit on Thursday. So far though, it's just that, a pullback. The Nasdaq sold off a bit. It's been consolidating lately by trading sideways. Rusty's a bit of a disappointment. It broke out recently but then came right back in.
There are some sectors such as manufacturing, energy, and chemicals that have lost some steam. Overall though, most sectors still remain in solid uptrends like the market itself.
So what do we do? Once again, with the market a little soft, I'm still seeing a few pullbacks setting up. Therefore, the plan remains the same: Continue to look to add some new positions. As usual though, just make sure you wait for entries. And, honor your stops and take partial profits as offered on existing positions just in case the next correction comes sooner rather than later. It's too bad there's not a book explaining all this money and position management in detail. Wait! There is: http://www.amazon.com/gp/product/097...SIN=0974765333
Futures are flat to soft pre-market.
Barchart.com's Chart of the Day - Madison Square Garden (MSG)
Barchart.com's Chart of the Day - Madison Square Garden (MSG) for Mar 23, 2012
The "Chart of the Day" is Madison Square Garden (MSG), which showed up on Thursday's Barchart "All Time High" list. MSG on Thursday posted a new all-time high of $33.68 and closed up 1.36%. TrendSpotter has been Long since Feb 7 at $29.77. In recent news on the stock, Maxim on Feb 21 reiterated its Buy rating on Madison Square Garden and raised its price target to $42 from $36. Madison Square Garden, with a market cap of $2 billion, is a fully-integrated sports, entertainment and media business with assets including the New York Knicks (NBA) and the New York Rangers (NHL).
Tested IPO water - ET
Just for grins, I put in for 1000 shares of IPO ExactTarget. Got zero allocated (as I expected after reading how it is unlikely for the 'lesser' trader to get any shares allocated (mostly these shares go to the people who have Bentley payments). So my grouching about Cramer's Dware IPO untimely advice last week was probably moot since I most likely wouldn't have received any of those shares either.
This may be a premonition for share allocation, or the lack there of, for the FaceBook IPO as well.
(More info at TIC group link http://www.onlinetradersforum.com/sh...d.php?t=618966)
Dave Landry's Market in a Minute - Thursday, 3/22/12
Random Thoughts
The Ps and the Quack ended in flatsville on Wednesday. So far, they remain in uptrends out of their recent Persistent Pullback Patterns. Once again, sooner or later we'll see some corrective action. Since the futures are weak pre-market, maybe that test will come sooner rather than later.
So what do we do? With the market flat to soft, I'm still seeing a few pullbacks setting up. Therefore, the plan remains the same: Continue to look to add some new positions. As usual though, just make sure you wait for entries. And, honor your stops and take partial profits as offered on existing positions just in case the next correction comes sooner rather than later. It's too bad there's not a book explaining all this money and position management in detail. Wait! There is: http://tinyurl.com/2vo395r
Reminder: Chart show today. I have a lot of good stuff to cover plus you guys always give me fodder for my tangents. Call in sick if you have to.
Click here to watch today's Market in a Minute.
Loading it up for a swing and a bigger position
GLD and SLV are like a coiled spring once again and uncertainty will provide another catalyst.
Long GLD for a position and I'm going to swing SLV for 10% short term.
Any gold bugs reducing their holdings these last few weeks?
Sirius XM Radio Inc (NASDAQ:SIRI)
Selling volume is drying up and the uptrend is likely to continue. During an uptrend, pull backs are often characterized by low volume. 20-SMA still acting as a good support. Moreover, the recent consolidation has just turned into a flag formation which is usually treated as small pause in the ongoing move. Resistance at $2.36 and support at $2.17
Portfolio Prophet - March 2012 Product Launch
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Wait until you see the recent profit activity my "charter" group of traders have been quietly pocketing using this technique - I think you'll be SHOCKED.
