The Latest Stock Market Update from MarketSpace - Business News and Stock Market Analysis

Hi Traders,

There is no doubt that the debt crisis in Europe is potentially only the beginning of much more severe sovereign debt problems to come. The macro-economic view of the global economy implies that many countries will follow Dubai, Greece, Spain and Portugal because the real Global Economic Recovery is not taking place swiftly enough to counter the massive spending and deficits incurred by the financial crisis.

The Euro has come under a lot of pressure since December and the longer-term economic prospects for the European Currency show little signs of improvement. But alas, we traders are also keeping our eyes peeled for short-term opportunities and it looks like there could be some interesting price action soon.

Here is a video that I would like to share with you showing a possible short-term bounce in the EUR/USD cross based on technical analysis. This video shows the key Fibonnaci retracement levels which, in conjuction with positive MACD patterns show that the EUR/USD pair has reached a strong support level. If you have been short this pair, it looks like this is a good time to exit your short positions and I am considering potentially going long to catch this bounce.

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Technical Analysis

Technical Analysis Video

Friday

Feb262010

02.26.2010 | in

Stock Market Update and Friday's 52-Week Highs, Feb 26th

Hi Traders,

TGIF indeed and I can’t wait to hit the slopes! With the last trading day of February behind us, this month has been interesting, to say the least. Crude Oil settled near $80 a barrel after some considerable volatility, while some disappointing news from the financial sector dragged down some bank stocks. The overall markets have also been swinging back and forth from the brink of a deeper correction, but have so far only succeeded in confusing the hell out of most investors.

Since it’s Friday, I’m giving you an update on stocks to watch for the 52-Week High on Friday Rule. Here is a list of stocks to keep an eye on that hit 52-week highs today with average volume and open interest above 1 Million shares:

Stay tuned and thanks for reading.

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Tech Stocks

Technical Analysis

Monday

Feb152010

02.15.2010 | in

NASDAQ:GRMN, Garmin's Future Looking Bleak?

Hi Traders,

I’ve heard a lot of people talking about Garmin Ltd (NASDAQ:GRMN) and each analyst seems to have a different opinion on where the stock is headed. The company has been struggling for the past few years and the business could see some harder times ahead. Question is, how will the stock react?

The OEM GPS market, the units that come built-in from the factory, will continue to grow but the aftermarket consumer units are where the money is. More cars are coming with built-in GPS and smartphones are also coming equipped with GPS capabilty. OEM GPS unit sales depend on auto sales and do not have the same profit margins as the retail units. The consumer GPS retail market is shrinking quickly and Garmin is unlikely to remain competitive. The chart below shows how investors see GRMN.

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Saturday

Feb132010

02.13.2010 | in

NASDAQ:ISSI, Recent High Rating, Strong Trending Stocks

Charting Tools by MarketClub

Hi Traders,

Call me crazy, but I enjoy scanning charts and doing research on the weekends. If you’re like me, then I’d like to hear what you’ve dug up.

We’ve seen some strong stocks despite the general sentiment in the markets recently. One stock that has been very strong with continuing momentum is Integrated Silicon Solution, Inc. (NASDAQ:ISSI), a semiconductor company based in California.

Integrated Silicon Solution, Inc. (NASDAQ:ISSI)

The chart above shows that ISSI has is in a long-term uptrend which has recently accelerated it’s pace. The most recent leg up was immediately after an upwardly revised earnings guidance following the January 28th earnings release.

From a technical standpoint, this is a nice chart with clean trend lines. Not only was there a monthly “Trade Triangle” back in April which marks the beginning of a long-term uptrend, but there have been multiple re-entry possibilities along since then, marked by the weekly “trade triangles” in the above chart. The most recent entry point was at $5.95 on January 29th, which represents an open gain of 28.4%! Keep an eye on this one for another entry point.

Strong Trending Stocks

Here is a list of some other strong rated stocks from US and Canadian markets that you should add to your watch list. I recommend being very careful on picking your entry points, as there is significant short-term risk with buying stocks that are moving this quickly. If you would like some trading tips and learn some techniques I recommend subscribing to our feed (if you haven’t already) and signing up to this free trading course.

Click on the symbol below to see the full analysis

SKIL	SKILLSOFT PLC ADR
RIMM	RESEARCH IN MOTION LTD
BRCM	BROADCOM CORP CL A
YLO.UN	YELLOW PAGES INCOME FUND
RNN	REXAHN PHARMACEUTICALS
LEN	LENNAR CORP CL A
PIR	PIER 1 IMPORTS INC
KBH	KB HOME
BIIB	BIOGEN IDEC INC
GSIC	GSI COMMERCE INC
KLIC	KULICKE & SOFFA IND
LIZ	LIZ CLAIBORNE
LTUM	LITHIUM
CHTL	CHINA TEL GROUP INC
HEK.WS	HECKMANN CORP WTS 11
BIDU	BAIDU INC ADS
PWT.UN	PENN WEST PETROLEUM LTD
BNS	BANK of NOVA SCOTIA
TKLC	TEKELEC
PRAA	PORTFOLIO RECOVERY ASSOC
CAGC	CHINA AGRITECH INC
UTI	UNIVERSAL TECHNICAL INST
GND	GENNUM CORP
TSHO	TRADESHOW MARKETING CO
CPE	CALLON PETROLEUM CO
ISSI	INTEGRATED SILICON SOL
PODD	INSULET CORP
SO	SOFTCHOICE CORP
KCP	KENNETH COLE PRODUCTIONS
PRM	PRIMEDIA INC
EARI	ENTERTAINMENT ARTS

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Monday

Feb082010

02.8.2010 | in

ETFs

ETF Update for the Week Ahead

Hi Traders,

For those of you who have read my previous posts, there are some key index levels to watch out for and I wanted to show you some updated ETF charts.

Diamonds Trust, Series 1 ETF (NYSE:DIA)

As mentioned in my previous post, “Is the Dow in trouble?”, the short-term looks quite bearish for the Diamonds Trust, Series 1 ETF (NYSE:DIA) which mirrors the price action of the Dow Jones Industrial Index. There was a weekly “Trade Triangle” a couple of weeks back and it has been declining ever since.

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Stock Symbols:

URE

Thursday

Oct082009

10.8.2009 | in

ETFs,

SRS, Short-Term Rally?

Hi Traders. A few days ago, I had written about a possible deeper market correction coming. I stated that there are indicators that suggest this correction and that traders should be ready to take advantage of it by playing the downside. So far the results have been mixed as there is still no clear direction in the markets and despite some failed rallies, neither the bulls or bears seem to be totally in control of the short-term movements.

I’ve made good on my prediction and moved aggressively into playing the downside of real estate with Proshares UltraShort Real Estate ETF (SRS), buying in at around $9.80 on Tuesday. The technicals look good for a short-term trade which is, so far, good. Not seeing any resistance until about 11$ and I am quite confident that we will see this level shortly.

The video that I posted on the 5th actually demonstrates the Simple Moving Average (SMA) indicator signal used for trades like this. SRS dropped below the 20 day SMA early in the trading session, before coming back above by the session’s close. This is referred to as a “wick” (ie: a candle’s wick when using a candle chart), meaning that although it broke below the support of the SMA, a close back above suggests that the support is still intact.

Stay up-to-date with this and other trades with RSS feeds and Twitter.

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