Moving Average guiding down short term trading

2/27/09

Folks, look what C bought to you??!! Now, every American own piece of C stock now but we all pay at $3.25 per share while it closed $1.45. Look how moving average play important tool for your trading arsenal. I will post daily chart and more commentary later on.

Citigroup is control by US government now

2/27/09

Another same bail-out style of AIG makes Citigroup (C) now becoming American Bank. It is owned by Washington now as of today. However, the conversion rate is way rip off to taxpayers. Again, those politicans and wealthy people are taking away more of taxpayer money. F?#% them all!! I have no confidence on current New adminstration, New government, and New president!! We will see if the recuse action on Bank work or not. Our government admits and creates one more blackhole to suck all of us. RIP to Citigroup stockholders, C is going to trading below $1 mark soon.
Again, good luck to whoever still invest in banks stocks.

S&P daily chart

2/26/09

No surprise as market selloff early gain in afternoon session and it is another sort of inside trading day. Inverted hammer pattern today only means indecisive. Need to focus more on shorter time frame to forecast next trend.

S&P not out of wood yet

2/26/09

It is so frustrated for Bulls again. It seems the market is about holding short term bullish uptrend. But late day trading is going down just same as yesterday. 780-785 is really a resistance zone. S&P just closed above the support 750. If it breaks below, this short term rally is vaporized. It needs to rebuild it from 741-745 again. However, I am bearish about breakdown new bear market low for S&P tomorrow!! Gee, still no confirm intermediate bottom call yet for me!! I though it was 24th the day but need to visualize S&P shooting above 780 for short or at least in intra-day basis.

Dow Jones Index 30 stocks performance

2/26/09

Above there is the highlight the year to date performance of the 30 Dow members along with their 2008 performance. Performance in each year is color coded, with the worst performers highlighted in red and the best performers highlighted in green. As shown, this year has been more of the same for the Dow members, with the majority of the big decliners in 2008 seeing the biggest declines so far in 2009. Bank of America is down the most this year at -63.35%, followed closely by Citigroup at -62.44%. GE, CAT, and AA are already down more than 40% this year as well. McDonald's and Wal-Mart were 2008's only Dow winners, and they're both down about 12% this year. The only Dow stock in positive territory this year is IBM, with a measley gain of 2%. Last year the average Dow stock declined 34.4%. So far this year, the average decline is already -22%.
If January effects does not count, how about February one?! I got no data to suggest if February also donw, will the year also going tank?!

Market is in netural

2/25/09

Market is in undecided direction with little bearish bias. If S&P can breakout 780-785, market would rally to 805 easily. Otherwise, retest low of 741 is still possible.