Joshua Hayes
All Posts
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Volume Jumps and Stocks Fall Ending the Market’s Uptrend
By Joshua Hayes - April 18, 2013
The NASDAQ Composite loses its 50 day moving average on heavy volume. AAPL and GOOG lead the NASDAQ 100 lower as the big cap technology closed down 1.99%. Commodities followed stocks lower with copper and other metals leading the charge lower. The Federal Reserve’s Beige book showed moderate growth due to autos and housing but did very little to lift the market further off its lows. Blue chips more »
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Volume Disappears as Stocks Recoup Majority of Monday Losses
By Joshua Hayes - April 17, 2013
In fine QE fashion stocks rebound in very light trade. Positive housing data did help the market even though growth came from multi-family homes. Industrial production grew at a faster pace than expected. Today was the first time we had economic data come in better than expected. Sellers disappeared paving the way for the market to float higher throughout the day. Volume disappeared falling more than 20% on the NYSE more »
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Big Wave Trading Portfolio Update And Top Current Holdings
By Joshua Hayes - April 13, 2013
The Big Wave Trading portfolio remains under a BUY signal which was regenerated on March 5th. The Russell 2000 was the only index under a NEUTRAL condition heading into the most recent week but has now re-switched back to a BUY mode as well. Overall, following this week’s action, the uptrend remains in tact and there are no current pressures on the BUY signal.
The only problem remains the more »
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Stocks Extend Gains Closing Higher for the 4th Straight Session
By Joshua Hayes - April 12, 2013
This week has favored the bulls as the market closed higher with gains for the fourth straight session. Volume ended mixed falling on the NYSE while running higher on the NASDAQ. A report on PC sales sent the likes of $MSFT, $INTC, and $HPQ lower putting pressure on the NASDAQ. Jobless claims were better than expected a far cry from last week’s big disappointment. Import prices fell more than more »
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Stocks Breakout to New Highs
By Joshua Hayes - April 10, 2013
A hiccup at the Federal Reserve led the central bank to release their latest meeting minutes at 9am EST. Despite several members favoring tapering the money printing operation by mid-year the market took off. Leading the charge was the NASDAQ, but on the Russell 3000 it was the most heavily shorted stocks boosting stock market gains. The Dow and S&P 500 closed at historic highs while the NASDAQ was more »
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MSFT and FSLR Lead the Market Higher
By Joshua Hayes - April 10, 2013
Unable to hang to the highs of the session stocks finish higher as volume jumps over Monday’s depressed levels. Wholesale inventories jumped more than expected in the month of February throwing a kink into first quarter GDP. Breadth on the NASDAQ ended in favor of the decliners despite the gains on the day. NYSE breadth ended in favor of advancers, but overall breadth has not been up to par more »
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Another Late Day surge pushes Stocks higher as Volume disappears
By Joshua Hayes - April 8, 2013
Small caps lead the market higher today rebounding from last week’s losses just ahead of the first quarter earnings season. The market has been finding buyers after 3:30 pm EST and today was no different. Buyers helped push the market to the highs of the session. Volume continues to be extremely light on positive days. A show there isn’t much institutional support, but enough to push the more »
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Big Wave Trading Portfolio Update And Top Current Holdings
By Joshua Hayes - April 6, 2013
The Big Wave Trading Portfolio remains under a BUY signal produced on 3/5/13. The only change to the model is that the Russell 2000 has switched to a NEUTRAL signal. Overall, all other market indexes remain under a BUY signal. There are individual items weighing on the indexes but overall the trend is still clearly up.
In saying that, there are problems that we have discussed with the more »
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Another Late Day Rally Lifts Stocks near the Highs of the Session
By Joshua Hayes - April 5, 2013
The S&P 500 continued its yo-yo action finishing in the green today as volume fell across the board ahead of the Non-Farm Payroll figures. Once again in the last 15 minutes buyers stepped up and pushed stocks higher into the close. It has become clock work at the end of the day buyers are appearing supporting the market. Jobless claim figures jumped more than expected just as momentum had more »
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Small and Mid Caps close lower as the Dow hangs on for Another New High
By Joshua Hayes - April 3, 2013
A late day 15 minute rally helped save the Dow, S&P 500, and the NASDAQ from closing on their lows of the session. Just after the 2pm hour sellers began to sell until the lows of the session at 3:30pm EST when buyers stepped up saving the markets from closing on their lows. The same could not be said for the Russell 2000 and S&P 400 as more »
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Big Wave Trading Portfolio Update and Top Current Holdings
By Joshua Hayes - March 31, 2013
The Big Wave Trading Portfolio remains under a BUY signal re-triggered on 3/5/13 following the original signal on 1/2/13. There are currently zero conditions weighing on the model, despite the below average volume. Any assumptions and presumptions we have towards the current volume on the rally have been eliminated due to the QE and ZIRP policy being initiated by the Federal Reserve.
We continue to go more »
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Stocks Close the Quarter Higher Despite Disappointing Economic Data
By Joshua Hayes - March 31, 2013
The market was hit with disappointing GDP and Jobless claims figures prior to the market open. Then again just after the open with a very disappointing reading from the Chicago PMI. Despite the disappointing economic reports the market as able to find enough buyers to keep stocks in green territory. Small caps lagged the broader market as the S&P 500 led the way. VIX slipped again as buyers continue more »
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Stocks Claw Back after European Stocks Fall Hard
By Joshua Hayes - March 28, 2013
European stocks fell hard on Cyprus fears and continued economic slump the Southern Europe states are in. Cyprus, Italy, Spain, and now Slovenia are in the midst of falling stock markets and higher cost to insure debt. Pending home sales were slightly disappointing, but the market rallied off the disappointing figure and continued for the rest of the afternoon. The NASDAQ was able to close in positive territory while the more »
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Home Prices Jump as Stocks End in the Green in Extremely Light Turnover
By Joshua Hayes - March 27, 2013
Early morning economic news did help the market at the open. However a disappointing consumer confidence, Richmond Fed, and New Home sales figures did halt the enthusiasm. Europe continued to remain in no man’s land with Spain leading the market lower. If I had to make a guess the IBEX 35 would be the next stock index to see a major break lower. The FTSE MIB may not be more »
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Cypress Bailout Dominates Headlines as the Market Cools
By Joshua Hayes - March 26, 2013
This uptrend is hanging by a thread, but continues to find just enough support to halt any correction. It is very easy to blame the Dutch Finance Minister even after clarifying his statement. However, even after clarifying his statement the market still couldn’t find its way back to positive territory. LNKD wiped out Friday’s gains while V broke through a buy point. SPLK, V, AMBA, and LL broke more »
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Big Wave Trading Portfolio Update And Top Current Holdings
By Joshua Hayes - March 24, 2013
The Big Wave Trading Portfolio remains under a BUY signal, as the market consolidated recent gains the past week. Volume was lower overall for the week and that is always bullish for a continuation of a trend. Unfortunately, when the market rallies it rallies on below average volume. The good news the past week was the selling volume was also below average.
This action the past week has helped form more »
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Stocks Pull back as Volume Rises on the NASDAQ
By Joshua Hayes - March 22, 2013
European markets were dealt with poor flash PMI data with France flashing a very weak PMI figure. Futures were set to open lower ahead of the 830 data release. Despite a better than expected Jobless claims figure and inline housing price index futures simply couldn’t muster the buying power. Sellers took hold of the market just after the release of the better than expected Philly Fed survey pushing the more »
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Bernanke Presses on with QE, but Volume Drops as Stocks Close Higher
By Joshua Hayes - March 21, 2013
Another Federal Reserve meeting and the central bank vows to continue to print billions of dollars a month until the Unemployment rate drops to acceptable rates. Cyprus fears seem to die down as it appears Russia will protect its own and give a bailout to the small island nation. Banks will not reopen to next Tuesday, but the situation begs the question will the next EU country who needs a more »
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Volatility Jumps as the Dow closes Green while Small Caps Lag
By Joshua Hayes - March 19, 2013
Positive housing data kicked off the trading day with Building permits jumping higher than expected. However, it was just after the 10 am hour the market dove as CNBC blame worries over the Cyprus bailout. Volume started the day off light despite the positive housing data. Institutions were jumping in the market buying up shares as volume suggested. It wasn’t until the hysteria over Cyprus did volume kick into more »
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Global Markets Header Lower as Cyprus Mulls Bailout Terms
By Joshua Hayes - March 18, 2013
Over the weekend the biggest news story was the Cyprus Bailout news. The terms of the bailout had depositors losing roughly 10% of their deposits. World markets reacted negatively from Asia to the US, but unlike Asian markets Europe and the US markets were able to rebound from the lows. A bit of a blow to the housing market was a dip in NAHB survey registering at 44 down from more »