Attorney Advertising. The law firm of Wolf Haldenstein Adler Freeman & Herz LLP is investigating possible breaches of fiduciary duty by the Board of Directors of Monterey Gourmet Foods, Inc. ("Monterey" or the "Company") (NASDAQ:PSTA) arising out of the proposed acquisition of Monterey by Pulmuone U.S.A., Inc. ("Pulmuone").[More...]

As the market hits new highs, bullish sentiment is reaching extreme levels. A quick look at the SPX bullish percent index shows us to be significantly overbought. We have a lot of economic reporting this week, particularly relating to employment and manufacturing, along with the continuation of earnings[More...]

Taking a look at stock market action last week, we see price consolidating after breaking to new highs. Stocks are being bought even after rather poor earnings reports, and meanwhile there are a good number of stocks reporting legitimately positive quarters. Money is flowing into equities, and traders have a large number of earnings winners from which to choose. Looking at the SPY chart, price made a major move to new highs on 7/23, and then broke out again on 7/30. The last two days of the week saw some end-of-day weakness, which provides some reason for short-term caution. In any case, this is a bullish chart. <img style="display:block; margin:0px auto 10px; text-align:center;cursor:pointer; cursor:hand;width: 400px; height:[More...]

Stocks clawed back in afternoon trading to finish narrowly mixed. The Dow Jones Industrial Average is up 1 point or 0.01%, while the S&P 500 is down 1 point or 0.1%. The Nasdaq Composite ends in the middle of the day's range, down 7 points or 0.4%.[More...]

I’m now back to net long due to my longs in GFI and my long portfolio of junk. I hedged my index shorts IN CASE, this market blows up into Friday. I got short based on last Friday’s overbought conditions, however, this has been incorrect so far and it looks like the market will get [...]