Barclays (BCS) Running Out Of Steam
While financials as a group didn’t fare too badly on Monday (November 26), Barclays PLC (BCS) the London-based financial services giant fell by a little over 5.00% on the day. Much of the sell-off was attributed to the sale of Barclays warrants by Quatar Holding to Goldman Sachs and Deutsche Bank, who in turn as […]
KKR – Defined Support
Last Friday’s major hammer candle, coupled with Monday’s follow-through buying on the S&P 500 chart naturally lead me to look for similar patterns on individual stocks. While in this case the pattern was wide-spread across indices and stocks, not all of them developed the pattern right at key moving averages or trend-lines. One stock that […]
Hammer Time!
At the lows last Friday, the S&P 500 was just about 8.00% off its mid-October highs without the mercy of any real meaningful bounce on the way down. As such it was just a matter of time until many of the weak hands and sell stops were washed out so that a more sustainable bounce […]
Juicy Trade Setup In Apple
It’s all over the news; ‘Apple down 25% from its 2012 highs.’ Buy and sell recommendations from brokers around the world based on the latest quarterly, weekly, daily or 5 minute iPad sales estimations are enough to confuse even the best of us. I am here to offer a pure high probability technical trade idea […]
Abercrombie & Fitch Set For Further Gains
Specialty clothing retailer Abercrombie & Fitch (ANF) yesterday had a massive one-day rally after the company raised its forecast for the year and also exceeded estimates for the third quarter. One interesting note was that international sales were up a very strong 37% in the third quarter, which likely sparked new enthusiasm for the stock. […]
Beazer Homes Diverging From The Pack
While the broader U.S. stock market yesterday remained flat for the day, there were significant pockets of weakness in important groups of stocks. One such pocket was the home-builder stocks, which was led lower by Beazer Homes (BZH) after the company announced its fiscal fourth quarter earnings results. The majority of home-builder stocks however don’t […]
Two Stocks Worth Shorting
After three weeks of weak action in U.S. equities we are heading into a new week, greeted by a major storm in the Northeastern United States and thus an additional factor we must take into account. Who said this business was easy? The S&P 500 lost roughly 3.55% over the past two weeks after failing […]
Is Chipotle Mexican Grill A Buy Now?
Chipotle Mexican Grill (CMG) fell almost 15% on Friday after a badly-received earnings report. McDonald’s (MCD) also tumbled after its earnings release, not helping the industry group and spreading to competitor stocks such as Jack in the Box (JACK) as well. After having risen about 55% in 2011 Chipotle Mexican Grill (CMG) has reversed course […]
Monday Morning Market Thoughts October 22
Was last Friday’s price action a game changer? Likely not entirely but it does lead us to rest with one eye open. From a pure price action point of view what to0k roughly 2.5 days to accomplish on the up-side in the first half last week only took one day (Friday) to destroy again. Yes […]
S&P 500 Sector Performance Since All Time Highs
Since the beginning of the most recent financial crisis, stocks have seen both extreme volatility outbursts and extremely low volatility periods. Amidst all of the turbulence, confusion and doom and doom headlines, for the average investor it was difficult to see where real opportunity lies. While hindsight is 20/20 it is none the less notable how […]