Newmont Mining (NEM) – All Signs Point Lower
While most stocks are nicely in the positive column for 2013, some of the gold mining names have faced stiff headwind as of late. And for all of the attention being paid to the price of gold itself, the charts of at least some of the larger gold miner stocks actually look much juicier for […]
Still No Rush To Buy Gold
On January 7th I discussed (here: http://investorplace.com/2013/01/gold-dont-rush-to-get-long/) that those looking at gold from the long-side may have some time left to initiate their position for the next more meaningful up-swing. In the meantime gold has staged a small relief rally but over the past few days has already begun to weaken again, which should be […]
Apple reached my price target; time to review the charts
Yesterday Apple Inc (AAPL) reached my price target; it’s now time to review the charts. On January 8th (here: http://investorplace.com/2013/01/aapl-next-stop-480/) I discussed how the stock’s chart was setting it up for a move to $480 in the near term. With yesterday’s sharp drop the stock not only hit but actually surpassed my profit target by […]
Honeywell (HON) Exhausted From Rally In The Near-Term
Last Friday both the Dow Jones Transportation index and the Russell 2000 index (among others) jumped to new highs. With broader markets in significantly overbought conditions, for a trader searching for high probability setups the long-side is simply too rich here. Thus I continue scanning the tape for quick short-side plays until such time the […]
Cabot Oil & Gas Corp Near-Term Overbought
Everyone knows it, the stock market had a gangbusters start into 2013 with the S&P 500 up almost 5.00% and thus far the party is continuing as mutual funds and others with mandates to chase markets higher keep the music alive. To be clear, I do think markets have more upside into potentially early Q2, […]
Coach Inc (COH) Triggered Head & Shoulders Pattern
Shares of Coach Inc (COH) took it on the chin to the tune of a little over 16% yesterday as the company announced its fiscal year second quarter results. From a technical point of view, yesterday’s price action in the stock did some damage to the chart, let’s look at it more closely; From a […]
Transports Overbought But Upside Remains After Pause
One of the key group of stocks participating in the most recent rally off the November 2012 lows are the transportation stocks. The S&P 500 since reaching a reaction low on November 16th has shot higher by a little over 10% if measured on a daily closing basis. The transportation stocks as measured by the […]
Aeropostale Ready To Power Higher
Apparel retailing stocks are currently flashing both buy and sell signals. In other words, the group as a whole doesn’t have much unanimity from a technical analysis point of view, which means as traders we need to look at each stock individually. As I scanned the universe of U.S. listed apparel retailer stocks yesterday afternoon, […]
Netflix Ready For A Pause
Momentum traders’ favorite Netflix Inc (NFLX) had a big rally off its September lows and meanwhile reached a price target I discussed several weeks ago. It’s time to re-visit where this stock stands from both a near-term and medium-term perspective. On December 6th 2012 I discussed here (http://investorplace.com/247trader/2-stocks-same-setup-nflx-and-big/) how the stock price of Netflix Inc […]
Buffalo Wild Wings (BWLD) Setting Up Higher
Just in time for the Super Bowl, Buffalo Wild Wings (BWLD) came back on my radar late last week as it looks to be setting up to the long side with juicy risk/reward. From a longer-term perspective looking back to the lows in late 2008, the stock remains in its up-trend. In early 2012 the […]