Month: February 2006

Possible Breakout But…

Qqqq2006227

Here we see the Cubes gap up at the open and rally on increased volume to close above the recent highs and above the 50-day EMA.  BUT: The rally came on below average volume and the market sold off some in the final 30 minutes, which shows on this chart as an upper shadow on the daily candle.  Click through to the continuation of this post to see the intra-day action.

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The Drumbeat Gets Louder

Monthsofinventory2006228_1

In summary: Despite the warmest January in more than 100 years, new single-family home sales fell 5% in January to the lowest level in a year and inventories (both absolute and months’ supply) hit another record high.  Mortgage rates steady to slightly higher. Chart from IBD.com.

Introducing Cubetrader.com Stock Idea Lists

Cubetraderstockidealist2006227e A couple of times per month I will publish a list of growth stock ideas for you to research.  It will likely contain some familiar names and some new ones.  It’s the new names that you’ll want to focus on.  These are the ones that many/most other investors also are not yet familiar with.  You will certainly not see them featured on the magazine covers (yet).  So while the Wall Street herd will be picking over yesterday’s pastures and touting yesterday’s winners you will be turning over stones down at CubeTrader Creek, looking for, and sometimes finding, tomorrow’s winners.

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A Weekly Picture of The Cubes

Qqqq2006224 The weekly chart of the NASDAQ QQQQs shows four main points of interest, which, when combined, suggest that the Cubes may be trying to round out the bottom of their thus far 7-week base, which began on January 11th at $43.31, the current 52-week high.

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Quick Update on the Cubes

Qqqq2006223 Just a quick post to highlight the recent action in the NASDAQ QQQQ ETFs.  The chart above shows the most recent month, which has thus far seen the Cubes gap below the 50-day moving average and, so far, fail to regain it.  On the positive side is the tight price range and generally low volume we have seen.  On unknown side are the most recent two day’s of trade, highlighted with purple circles on the chart.  The candles are a little different that what we have seen recently, as they have long upper shadows, which indicate intraday reversals at $41.50, just above the 50-day moving average.  The long upper shadows also coincide with a minor new low in the Money Flow indicator, as highlighted at the bottom of the chart.  What’s it all mean?  It means that until we see a decisive move one way or the other it might be wise to refrain from entering any large new trades.  Cheers!