Thursday, May 17, 2012

Walmart post-earnings chart

I posted this 4 weeks back on "mexican bribes" plunge for WMT: My WMT buy Where does WMT stand now? Walmart is ~ 5% higher.

Walmart Inc. smashed earnings estimates today and pushes higher today by 4.71% as of now. Sure, the stock went lower and we had almost a month of consolidation before the push here. We may have another round of higher lows before we go higher. But, the way these big caps are breaking out (MSFT? AAPL?), I don't see any bear market at this levels like many on the blogosphere are prognosticating. We had a good correction for the last 5 weeks or so on the general market. My levels to watch for support are 1305, 1270/ 1280.

I am buying the market here with my stop at 1250. This is for Intermediate term - next 4 - 6 months. In short, the bull market is still alive!

Thursday, May 10, 2012

Market update

My stance on the markets:

US markets (DJI/ SPX/ COMPX) - Bullish with a bit of caution
Commodities (/CL, /GC, /SI) - Bearish until turn up again

Basis of the above stance is short term using daily charts.

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