Looking at tomorrow, a fresh employment report is on the docket which could very well effect the market. For a closer look at what to expect head over to the Daily Ticker.

On the plus side, Facebook (FB) finally found a legitimate bottom at the $27 level (intraday low today was $26.83). Once support was established early afternoon the stock just took off around 2:30 PM EST and did not stop until the close, adding about 10% in less than two hours. Being a bullish engulfment accompanied by heavy volume, this signals atleast a short term bottom and gives the stock something to move up from. Here is a look at Facebook's intraday price action from my TD Ameritrade thinkorswim account (daily chart further down),

As usual there will be no recap tomorrow (Friday). Updated market analysis is below. Have a fantastic weekend!

And to wrap up tonight's post here is a look at sector performance for the month of May from StockCharts.com. As we can see here Finance was the worst performer while Utilities held up strong despite the tough market.

Original post: Market Recap & Facebook Finally Turns Bullish Thanks to Late Day Rally

The bottom line though remains that in a headline, rumor driven market, retail investors lose. Maintaining a heavy cash position (if not sitting on the sidelines completely), using tight stops, and maintaining smaller position sizes is the only low risk way to put capital to work. There is no way to predict what tomorrow holds in store when a single headline can push market futures up or down 1% in minutes.

Updated market analysis below. See you back here tomorrow.

Original post: Market Recap - Whipsaw Action Continues

Some CANSLIM investors may mark today as the follow through session we've been waiting for - defined by a 1%+ accumulation day between 4 to 11 days after a market bottom - which is possible however volume was not ideal since it was lower than average. For those who mark today as the day, keeping a close eye on the watch list and slowly putting some cash back to work makes sense moving forward.

And lastly Facebook (FB) got hit pretty hard again today, shedding just under 10%, closing at $28.84. I told Bloomberg several weeks ago that the stock should be played with caution and tight stops for those investors who couldn't resist the urge to buy. Sad to see us down now close to 10 points from the IPO price but that's the way it goes.

Stay frosty out there.

PS - For those looking for a detailed update of Oil using Fibonacci, check out the latest on the StockCharts.com blog,

Click to Enlarge

Original post: Market Recap with Facebook, Oil Updates

If we do break lower, the 200 MA will be the clear downside target and support level to watch for. With a break higher, expect big name stocks like Apple (AAPL), Visa (V), Expedia (EXPE) to outperform.

There will be no post tomorrow as it is Friday and Monday is Memorial day. Enjoy the extra day off, have a fantastic weekend, and I will see you back here on Tuesday!

Original post: Market Recap - Bear Flag or Break Higher?

The market remains a mess right now as we are back to the environment of latter 2011 and middle 2010 where random comments from officials across the Atlantic move everything en masse. Today the market was hit by word that preparations for Greece's exit from the EU are being considered.

Of course a denial by another official would send the market up 1% immediately. Rinse, wash, repeat – year #3.

The bigger picture right now is all stocks are moving as one asset class as our massive correlations return. Until that changes it is very difficult to bother to be a stock picker.

According to IBD day four+ from the bottom is when we are looking for a fresh accumulation day to confirm a bottom has been set into place. Something to keep an eye out for heading into the end of the week.

Stay frosty out there.

And here is a good look at Gold courtesy of the StockCharts.com blog. If Gold breaks below support, the next support area is down at the 135-138 area.

Original post: Market Recap - 2011 All Over Again, Gold Update

So, to take a break from the market recaps, tonight I cleaned up my current watch list and listed out 90 stocks below that are worth keeping an eye on!

Important to note, these are NOT, by ANY means, buy recommendations. I'm sitting 100% in cash and will not consider any new investments until we have a more favorable market environment. Also, I did not include any ETFs. My full watchlist is currently 147 securities.

What highlight stocks are on your current watch list?

*PCYC
TSCO
ARIA
CBST
REGN
ALXN
BBBY
AAN
MDF
HSTM
SWI
CRBC
KNXA
*ARBA
*ULTI
TRAK
FDO
DLTR
*PZZA
PNRA
BWLD
DPZ
*CMG
BJRI
SAVE
*V
MA
DFS
ISRG
*WFM
TFM
RAI
LULU
GCO
ROST
*QCOR
PII
CALM
ULTA
*GNC
VRSK
UA
MNST
PSMT
*WMT
PRGO
CF
*HAIN
IBM
RGLD
ABT
ASPS
EOG
PXD
RRC
NKE
*LNKD
GOOG
TRIP
LQDT
*AMZN
*ATHN
MCK
PCLN
*EXPE
MDVN
AMLN
CZR
FIRE
KORS
ALLT
LGF
RHT
*AOL
EBAY
SHW
NTES
UNP
CNI
HD
*Z
DIS
*VRTX
AGNC
MTGE
AMTG
TJX
FB
GNC

The tickers are simply typed out so they can be easily ported to whichever charting program you currently use. Just don't forget to remove the *s.

Original post: 90 Stocks to Watch, A Look at My Current Watchlist

What's great about days like today is that technical analysis shines. Tonight I am going to let the charts do all of the talking. Newer investors take note, some great notes lie below.

And lastly here is a look at Facebook's (FB) first two days price action using a 10 minute char with MarketSmith,

Original post: Market Recap - Rebound Begins, Education Tips, Apple and Facebook Updates

The story was the "35 Best Money Apps"; I contributed on the investing apps section. The apps that ended up getting featured include TD Ameritrade Mobile, Wikinvest, Fidelity Mobile\, iTrade, and TIAA-CREF.

The quote they ended up using for print was on TD Ameritrade Mobile. Both TD Ameritrade and Fidelity received 5 stars for mobile trading in the StockBrokers.com 2012 Online Broker Review.

For a list of some of my favorite ivnesting apps, see my post 10 Best iPhone Apps for Investing.

Original post: Quoted in Money Magazine - June Issue