Market Outlook Friday July 26
“The summer wind, came blowing in – from across the sea It lingered there, so warm and fair – to walk with me All summer long, we sang a song – and strolled on golden sand Two sweethearts, and the summer wind” – Summer Wind, Frank Sinatra Earlier in the week I wrote a piece […]
Panera Bread Done Rising?
Bakery cafe operator Panera Bread Co (PNRA) rose more than five hundred percent over the course of the past five and a half years. In so doing however the stock was continually subjected to healthy mean-reversion moves that simply allowed it to cool off and thus lower the danger of a more meaningful collapse. At […]
Naughty Kitty; Caterpillar
Industrial machinery giant Caterpillar (CAT) reported a drop in its second-quarter profit, which coupled with the company’s outlook weighted on the stock yesterday. The stock’s quarterly profit declined to $960 million versus a profit of $1.70 billion in the year-ago period. Revenue dropped to $14.62 billion from $17.34 billion, which came short of analyst estimates […]
Market Outlook Thursday July 25th
After too many exceedingly boring trading days over the past two weeks, yesterday’s price action in US stocks was a breath of fresh air. While the downside was limited to 0.38%% on the S&P 500, it was interesting to see small caps, i.e. the Russell 2000 leading the selling and the technology-heavy Nasdaq Composite actually […]
Continued Underperformance By Tech
It was another lackluster trading day for US equity indices yesterday as the S&P 500 traded in a range of roughly eight points, which compares rather boring to the intra-day swings of more than twenty points that we witnessed just one month ago. To put a picture around this, I created the below chart. The […]
Global Payments Inc (GPN) Steadily Working Higher
Global Payments Inc (GPN), provider of electronic transaction processing, information systems, and services, from a long-term perspective trades in well-defined and fairly lengthy swings. From a swing trader’s point of view, this thus makes for an attractive stock to follow. The stock’s sharp, close to 100% rally off the early 2009 lows re-tested a previous […]
Market Outlook Tuesday July 23
While for the most part yesterday’s trading in US equities may be labeled as a boring summer Monday trade, a few more eyebrow raising observations could still be made. As the S&P 500 did its best to hug the flat line, I first noticed how extended the banks are past their 200 day simple moving […]
General Electric; Still Positioned For Higher Levels
Industrial conglomerate General Electric Company (GE) after an already respectable run off the 2009 lows last Friday, post its latest earnings announcement broke past a multi-month resistance area to a new year to date high. If we consider the below multi-year stock of the chart, two things stand out. First, while not quite there yet, […]
Coach, Inc Readying A Major Breakout
Clothing accessories maker Coach, Inc. (COH) designs, produces, and markets luxury leather goods. Much like most assets classes and stocks, it rallied hard off the 2009 lows. Unlike the broader US stock market however, the stock rallied into a medium-term blow-off top in March 2012. From there, after a too-steep-to-be-sustainable slope, the stock slipped a […]
Market Outlook: Climbing Into Thin Air
Before I get started with today’s musings on the the markets, allow me go again thank Sam Collins for giving me the opportunity me to pitch in for the next two weeks. I look forward to bringing my honest takes on the tape to his valued readers over this period of time and in this […]