Welcome to the recap of Wednesday's MarketWatchers LIVE show, your antidote for the CNBC/FBN 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. You'll find the latest episode here.
Information abounds in our Monday/Wednesday/Friday 12:00p - 1:30p shows, but the MWL Blog will give you a quick recap. Be sure and check out the MarketWatchers LIVE ChartList for many of today's charts.
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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. Erin noted in the first Market Update that techs were suffering while energy continued its bullish rally along with small-caps. Tom reviewed some of the industry groups within both sectors as well as some interesting stocks in that space. Upgrades today were MCK, ONB and OPHRY. Downgrades today were AYI, CHFC, SSNI and SNCR.
20 in 20 Challenge: After reading our survey comments, we decided to have Erin look at 10 stocks in 10 minutes, followed by Tom's 10 in 10. Symbols reviewed today: AC.TO, ACB.TO, CVE.TO, PEY.TO, HFC, ERN, NBR, HAL, PSX, and MRO for Erin. Tom's mic went out on us during his 10 in 10 reviews, so Erin took more symbols for Tom. Tom's 10 in 10: INCY, KTOS, FCG, XBI, IMGN, JBHT, BMY, BP, and EWP. You'll find all of the charts in the MarketWatchers LIVE ChartList, located at the top of the MarketWatchers blog homepage.
Seasonality Temperatures: Tom helped Erin review the seasonality of a few interesting sectors. Of interest was the excellent season coming up for Home Builders. While this doesn't make complete sense, the chart below is clear:
Airlines also are entering a very favorable period of seasonality:
If you click on the seasonality charts above, it will pull them up for you to manipulate and research further.
Mailbag Segment: Each show Erin and Tom answer questions received via Twitter, Facebook and Email. Tom and Erin were asked when they do their trading research and trades. Erin explained that she has always been an "after market close" analyst. She does her scans for trading opportunities at the end of the day and follows through with orders in the morning. Tom studies trades most of the market day and generally puts his orders in mid-day.
Tune in on Friday at 12:00p - 1:30p EST on 9/22 for a review of sentiment polls and numbers and see how everyone did on calling market action for this week.