Carl Christie has traded equities for close to half a century. Thirty-seven of those years were spent on the Toronto Stock Exchange trading floor as a market maker and professional trader. As the Chairman of the Professional Traders Association from it’s inception in 1987 until the TSX trading floor closure in 1997, he represented the trading floor by sitting on numerous TSX standing committees and trading rules committees. Since 1997 Mr. Christie has consulted with publicly traded companies in both an Investor Relations capacity and as a stock trading analyst.
Week of June 7: ECONOMIC CALENDAR
Monday
* April consumer credit report
* Wholesale inventories.
* FuelCell Energy Inc. (FCEL)
* The Pep Boys (PBY) will release numbers.
Tuesday
* No major economic reports scheduled for release.
* Bob Evans Farms Inc. (BOBE),
[...]
Friday, June 4: SUMMARY:
So often the street awaits good numbers and then responds contrary to expectations. Such was the case today as the government’s highly anticipated employment report showed the fastest month-over-month job growth in over 10 years, the figures still fell short of the Street’s expectations which initiated another huge sell-off. The Labor Department said nonfarm payrolls [...]
Thursday, June 3: SUMMARY:
All three major market indexes struggled to extend Wednesday’s strong showing, but after a turbulent day of trading they managed to eke out small gains.
The Dow Jones Industrial Average (DJIA – 10,255.28) traded higher in the final minutes of trading to end on a gain of 5.7 points, or 0.06%. The Dow notched a second [...]
Wednesday, June 2: SUMMARY:
After two down days stocks roared higher today as a wave of bargain-hunting swept the Street.
The Dow Jones Industrial Average (DJIA – 10,249.54) gained 225.5 points, or 2.3%. Thanks to today’s surge, the Dow finished above its 10-day moving average for the first time since May 12.
The S&P 500 Index (SPX – 1,098.38) [...]
Up, Down or Base Forming?
With the high frequency trading games being played over the past couple of weeks, it is becoming more difficult to form an opinion on the future direction of the market.
You could fairly surmise that if the bulls don’t crap out in the next couple of days, that stocks are now in the process [...]
Tuesday, June 1,2010: SUMMARY:
Today the markets weighed tumbling commodities prices against encouraging construction and manufacturing data. The government said construction spending rose a better-than-expected 2.7% in April, marking the largest increase in nearly 10 years. The Institute for Supply Management’s (ISM) manufacturing index declined to 59.7 in May, compared to economists’ predictions for a steeper drop to 59.0.
Unfortunately, [...]
“MAYDAY” MAY and “JUBILANT” JUNE:
A mere two and a half weeks ago I wrote an article entitled “Mayday: Mayday: Mayday” in which I described the wild market ride from May 4 through May 7 that saw the markets explode on the downside. After that wild ride the markets rebounded the following week only to sell off again before ending [...]
