Well, I have to admit... today was a NICE surprise!

I advised everyone just a few days ago not to expect many "fireworks" in the market until after Labor Day.

Turned out, I was wrong.

Both the DJIA and the Nasdaq exploded "out of the gate" today, and did not look back. The Dow romped to an eye-opening 212.67 point gain, while the Nas jumped 29 and change. Not too shabby.

What caused the bullish rampage today?

Seems the economy is not so sanguine after all. The latest (revised) GDP (Gross Domestic Product) number came in at a jaw-dropping 3.3%.

While this number is already being called a "high-water mark" (in other words, don't get your hopes up for this unusual kind of solid growth to continue), the news caused the bulls to show up in force.

Even before Labor Day.

With most stocks up across the board, it's difficult to see any standout sectors. Not quite "just throw a dart" and buy the stock, but pretty close.

The small real estate mortgage and title insurance companies are popping again. One of my recent picks here - MBI - was up a sweet 34.81% today on hellacious volume.

But I'm going to the bombed-out Industrial Metals & Minerals sector tonight to see if we can catch the rebound of a stock that's been sold mercilessly lately. It was up almost 14% today on humongous volume off a MONSTAR reversal pattern.

With a P/E ratio of only 4.27, it seems to be oversold way too much. And I think astute buyers are catching on to that.

I'm going to name that low-priced stock for my Premium Members below.

My regular Members know about my affinity for puns. Related to the name of this stock is a line from The Godfather movie: "I made him an offer he couldn't refuse."

Let's see if my Members catch the pun after they see the name of the stock below.

A nice day in the market...

Today was much more fun to be playing the market from the long side.

While the DJIA and the Nasdaq could not maintain their highs of the day, they both had (almost identical, percentage-wise) decent gains for the day.

The Dow galloped to an 89.64 point gain, while the Nas popped 20.49.

Technically, I like the Nasdaq chart better than the Dow's. Nas' chart looks like a textbook "W" double bottom, while the Dow may be stuck in a slightly uptrending trading range.

News came out today that the housing meltdown may be near an end, or at least about to level off a bit. That helped certain Homebuilding stocks today.

With the snapback of the indexes, lots of great charts appeared out of nowhere today. One of my favorites is in the Tech area. It almost doubled in price recently, in just 21 trading days. Up over 7% today on a strong reversal, it may be off to the races again. I'm going to name that low-priced stock for my Premium Members below.

Not exactly a "Turnaround Tuesday, but we'll take it...

The markets ended mixed today, with the DJIA up 26.62 points and the Nasdaq in the red by a scant 3.62 points.

So not exactly a mega-reversal Turnaround Tuesday. But after yesterday's miserable market massacre, not bad at all.

In fact, both indexes caught on fire during the last hour of trading, basically heading straight up into the close. So tomorrow could be interesting.

There are just a handful of great-looking charts this evening. And some of them are in the beaten-down Energy sector. I'm on the alert for more strength there.

And again, I don't foresee a great chance for many fireworks in this market until after Labor Day. Which is now just days away!

So be ready! We may see some interesting things shaping up in the market very quickly. And we also have those two major conventions in our near future, with the typical ebbs and flows of market action - both up and down - before and after them.

So stay tuned for the rest of the Election Year Follies!

This is about the choppiest market I've ever seen...

If you're frustrated with this market, you're not alone.

Picture-perfect, textbook base breakouts are getting spanked right back down into their bases, or even worse.

One day the Dow is up 197.85, the next... down 241.81.

If you can see any "rhyme or reason" in this market, you and I need to have a conversation. Because I don't see any.

The "good" news is... the market is still trying to hang on to its tenuous rally starting back in July.

And maybe even better news is that this week marks the last week of the so-called "Summer Doldrums", that period of the year when, as I've mentioned here before, lots of the top traders on Wall Street are taking it easy at The Hamptons or Martha's Vineyard until after Labor Day.

So until then, it looks like we can expect "more of the same" - each day a "tossup" in the market as to whether it ends up big or down big.

I guess we just grin and bear it for another week or so.

Thank you Gentle Ben, for a Fabulous Friday!

Well, we didn't have our Turnaround Tuesday this week.

And we didn't have a Wonderful Wednesday either.

But thanks to "Gentle" Ben Bernanke, we did manage to pull off a "Fabulous Friday."

The market seemed to take solace in Bernanke's assuring words today that inflation was not that big of a deal, and that "everything will be all right." Those words caused explosive moves on both the DJIA and the Nasdaq, with the Dow ending the day up just shy of 200 points, and the Nas up 34 and change.

Helping things along was a sharp spike down in the price of crude oil (after a sharp spike up yesterday). Also, not hurting events at all was word that the troubled Wall Street firm Lehman Brothers may be taken over.

All in all, a dandy day in the market, and a great way to end the week.

And we have one more week left in the so-called "Summer Doldrums." Most of the top traders on Wall Street take the final two weeks of August off and head to The Hamptons until after Labor Day.

Will they be in a "buying mood" when they return? Well, only time will tell. But my gut feeling is "yes."

Have a great weekend!

It was kind of a "blah" day, but over all... not too bad...

I guess it could have been a lot worse in the market on Thursday.

Most of the major indexes were in negative territory for the better part of the day. But a late-day rally caused the Dow to actually close in the green. It was up almost 13 points for the day. The Nas didn't quite make it - that index was down 8.7 points.

Energy stocks looked great on Thursday, since crude oil futures rallied above $120 a barrel to more than a two-week high, as the dollar fell against other major currencies and tensions between the U.S. and Russia escalated.

I'm starting to take a shine to the Energy sector again, and I've found a beautiful chart there. It's a re-buy of a great little low-priced stock that tripled in price earlier this year. I'm going to name the stock as my RSVP Play this evening.

"Not exactly "Wonderful Wednesday", but we'll take it...

With Turnaround Tuesday not happening yesterday, I was hoping for a Wonderful Wednesday today.

Well, the market tried to cooperate a bit. All major indexes did close in the green. Modestly though... but we'll take it.

Helped by HPQ's nice earnings surprise, the Dow took the lead today, up almost 69 points, and the Nas was up just shy of 5 points.

The Solar stocks "shined" again today, helped by good earnings reports coming out right and left from companies in the sector. Lots of good charts there, and I especially like ENER.

I'm also starting to see nice bottoming action in the now beaten-down Energy stocks... the "Darlings of the Market" just a few short weeks ago. GMXR looks good there. And watch PDRT - it was up huge today.

But I'm going back to the hot Health sector tonight. I've found another beautiful chart there, and I'm going to name the stock as my ARM Play this evening.

Turnaround Tuesday was not happening today...

Well, my optimism proved to be unfounded.

I had hoped the market would remain "true to form" and perhaps gap down on the open today, and form Hammers on the index charts by the end of the day, creating another Turnaround Tuesday.

Didn't happen.

More inflation worries and continued financial woes were just too much for the bulls, and the bears once again roared down Wall Street.

Like yesterday, it was pretty much all downhill, all day for both the Dow and the Nas. The Dow gave up almost 131 points and the Nas almost 33.

Hewlett Packard and Verifone are both up after hours though, so that might help the tech stocks tomorrow, and breathe new life into this morose market. We need something.

But there's one good thing about a bad market day...

Good charts stick out like sore thumbs!

I've found one of those few good charts, and I'm going to name the stock as my ARM Play this evening. It recently came close to doubling in 22 trading days and then pulled back. And now, it might be off to the races again.

Well, at least we're all set up for Turnaround Tuesday...

That's about the only positive thing I could think of to say about the market's action today.

It was pretty much all downhill, all day for both the Dow and the Nas. The Dow cratered almost 181 points and the Nas almost 36. But both indexes popped off their lows of the day near the close, so... once again... we're all set for yet another "Turnaround Tuesday."

This extremely frustrating, back-and-forth market action wears on the nerves for sure, but sometimes you have to "grin and bear it", and just grind your way through as the market forms that elusive bottom.

And even in the roughest of markets, there is still plenty of excitement out there if you know where to look.

For instance, just today one of my recent "on deck" RSVP picks - FMD - was up a tidy 71.33%. We'll definitely keep that one on our Holy Grail and ARM Play watch list for Aftershock Action!

I'm still seeing the bullish bias in this market...

The Dow and the Nasdaq switched roles today.

The red-hot Nas has been roaring back from its recent bottom in July, and has taken over leadership in what appears to be a new bull market up-leg. And on most days, the Nas has ended in the green more often than the DJIA.

But the Dow popped back a bit today, continuing the uptrend of "higher lows" on any pullback. And the Nas "popped and flopped" a little today.

Overall, however, there's nothing to make me change my bullish bias in the stock market right now.

And speaking of red-hot, have you seen what some of these mercilessly beaten-down real estate and airline stocks have done lately?

If not, just take a quick glance at a few of these charts since early to mid-July...

SCA, ABK, MTG, and RDN in the real estate area.

And just about any airline stock chart. But you might want to pay special attention to LCC there. It went from 2 to 9 in 20 days.

Who in their "right mind" would have ever thought a few weeks ago that events were setting up allowing you to make a SMALL FORTUNE in regular airline stocks and unloved real estate stocks...

In The Span Of 20 Days!

As I've said on many occasions before, we live in interesting times.

Anyway, these trampled real estate stocks have been "easy money" lately, and I see another one setting up again for perhaps a new double or triple in the next few weeks.

I named one yesterday in that same sector, and the stock was up 25% today. The one I'm about to name was up "only" 16% today, and I think it will head skyward on the open Monday morning.