Research Center's, Hot Charts & Alerts Arcive

The read on JPM was dead on. Target for entry hit. Stock has soared off those levels. Break even stop should now be in. Enjoy.

Also, BAC double bottom alert holding and giving profits as well.

JPM is nearing major support on the daily chart.  This support is around $37.15 - $37.35. If this support level holds, a bounce to $38.95 is possible. Should the support get taken out, a drop to a double bottom is likely at $35.50.

Expect a market that remains volatile this week. North Korea, Europe will all be in focus as the Federal Reserve continues to pump money into the system to keep it afloat. In addition, the Non Farm Payrolls and Unemployment Report is due on Friday.

As the U.S. and South Korea conduct war games in a show of force against North Korea, North Korea says they are being pushed to the "bring of war". It appears North Korea wants some sort of confrontation to prove they are a nuclear power as well as show the strength of the newly appointed leader who is the son of the former leader. It seems the 25 year old who is taking over the leadership role in North Korea must prove he is a strong leader to the world.

As the weekend approaches and fear of war escalates, the Dollar became the safe haven. As the Dollar shot higher, the markets dropped sharply lower. We continue to see global instability, the one thing the Federal Reserve cannot handle. In addition to the North and South Korean conflict, Ireland's major banks were hit with credit downgrades. Portugal passed austerity measures to try and bolster their chance of avoiding the same fate as Greece and Ireland while Spain claimed they needed no help from outside sources. Of course a claim like that falls weakly by the way side as both Greece and Ireland claimed the same thing at one time.

The markets continue to be Jekyll and Hyde. When things are quiet, POMO rips the markets higher. When global issues erupt, the markets tank sharply. This type of market will remain for the next few weeks and possibly into the end of the year. Swing trades must be carefully picked and should be only short term.

Right now I am eying the retail stocks as possible pull back plays. AMZN looks ripe for a pull back in the $180 range while stocks like TIF, COH, ANN, M and others, look extremely extended. NFLX also looks good as a possible short if it crosses the $200 level.

Small cap plays that look promising over the long term are SPEX at $0.50, COIN at $0.33, AEHR under $1.00 and TORM at $8.00.

Stay tuned and be ready for action next week. The holiday is over and it is time to get back to the hardcore money making techniques.

Remember, the webinar next Saturday December 4th, 2010 will teach some new techniques never discussed in the Nightly Analysis Videos or anywhere else. They will open your eyes and give you the ability to make more money. In addition, a free week of the Intra Day Stock Chat will be included as a bonus for the last webinar of 2010.

Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com

North and South Korea clashed overnight as the North Attacked a South held island. Two soldiers were reported killed.  The futures dumped sharply as fear of a major conflict spiked. This is acting as a minor shoe dropping with the S&P 500 futures down 13.50 points. Essentially the Dollar spiked on this news as global money rushed to the safety of the U.S. This pushed the markets lower.  The big question will be, can the Federal Reserve save the day again or is it just too much at this point. We will cover it all in the Nightly Technical Analysis Video. Stay tuned.

Light volume and the Friday Effect helped the market recover from early losses to float back above the float line. This was a classic example of what was expected for this Friday via the Nightly Technical Analysis Video. Chief Market Strategists continue to remain mostly in cash as they look for the right opportunities after solid profits early in the week.

According to Chief Market Strategist Gareth Soloway, next week has two possible outcomes.

1. The most likely outcome is that things remain quiet, volume remains low and the markets stay flat to slightly higher. This would be a result of POMO as well as the Federal Reserve wanting the markets as high as possible heading int the Thanksgiving holiday and the biggest shopping day of the year, Black Friday.

2. This is the more unlikely scenario. Major troubles in Ireland or another European country boil over.  This would cause a dramatic increase in the Dollar which would send U.S. markets lower.  This would be the shoe that would drop that the Federal Reserve could not control, thus a down market.

As noted, on a break of $0.62, CIIC would rip higher. Sure enough, higher it went. Nice to see folks. Congrats to those that stuck around and held this small cap winner.

Chief Market Strategists closed out their final position in LVS at $46.75 from the entry at $52.02.  This was a solid 10% profit. The markets have corrected over 4% from the cycle pivot top. There may be a little more downside but it is possible the markets could bounce towards the end of options expiration week and next week for thanksgiving.  Stay tuned.

The idea here is to respect the charts. The GLD just hit the 50ma.  That level should be good support. Entry was $130.10. Flat trade to small gain.  Key is to keep that discipline.

Profits taken as market continues to sell off on the turn cycle date. Still holding other shorts.