Welcome to the recap of Wednesday's MarketWatchers LIVE show, your antidote for the CNBC lunchtime talking heads. Listen and watch a show devoted to technical analysis of the stock market with live market updates and symbols that are hot.
Information abounds in our Monday/Wednesday/Friday 12:00p - 1:30p shows, but here's a quick recap. Be sure and check out the MarketWatchers LIVE ChartList for many of today's charts. Your comments, questions and suggestions are welcome. Our Twitter handle is @MktWatchersLIVE, Email is email@example.com and our Facebook page is up so "like" it at MarketWatchers LIVE.
What Happened Today?
Every Wednesday, Tom and Erin start the show off with important earnings announcements, economic news and developing news in the major markets. Tom started with looking at $TNX and XLF given the news coming out of the Fed. You'll find more information on that topic in Tom's Trading Places blog article today. Next both looked at stocks of companies that had been upgraded or downgraded. Erin looked at some of the upgrades: UAL, NVDA, CVA and GD. Tom looked at downgrades for KMB and MON.
Market Movers: Tom and Erin took turns looking at the biggest movers on the session or those that had big SCTR moves. The most asked for chart was for NRG Energy (NRG) which was up a whopping
Ten in Ten Before One: In this regular segment, Tom reviews ten charts in ten minutes with Erin's comments and comments from the Twitter "peanut gallery" peppered in there. Send in your symbol requests via Twitter (@mktwatcherslive) before the show and we'll try and add them. If we missed them this show, we have many of them in the queue for Monday. Symbols reviewed today: LL, FXI, ICPT, CCP, RHHBY, SHOP.TO, WBA, MRK, MRVL and CRM. You'll find all of the charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.
Anatomy of a Trade: Tom and Erin reviewed trades that they had or were making to give viewers an idea of the how and why they pick the stock, hold the stock and eventually sell the stock. Tom reviewed his trade of UCTT and Erin reviewed KOPN.
Mailbag Segment: Each show Erin and Tom answer questions received via Twitter, Facebook and Email. Questions were flying in today! Tom talked about how he uses the RSI as a secondary indicator to the MACD. He reminded the audience that an RSI can stay overbought in an uptrend. Erin discussed how she uses the Encyclopedia of Chart Patterns and the Visual Guide to Chart Patterns to determine how useful certain chart patterns are. You can find the books in the StockCharts Store. Also, before you go shopping, you may want to become a Certified ChartWatcher. Certified ChartWatchers get a 50% off coupon you can use for ALL future purchases in the StockCharts Store! To learn more click here.
It's a Wrap! In closing Erin discussed the Twitter viewer poll from Monday. The majority of viewers felt the market would rally today and they appeared to be right. Look for our Twitter polls at @mktwatcherslive.
Tune in on Friday at 12:00p - 1:30p EST on 7/14 for our regular segments as well as a DecisionPoint Report on sentiment and the "big four". We will run real-time polls and focus on your symbol requests and questions!