Natural Gas Gaining Steam
Worth pointing out here…natural gas is on the move this morning and breaking out of a long consolidation phase.
Euro Stoxx 50 – Last Chance For Pullback
After last week's rally in risk ended on a positive note in New York on Friday, it continues this morning with the Euro Stoxx 50 up 1.80% as of this writing. Looking at the charts, the Euro Stoxx 50 is now slighly busting above previous support (2850), which this time around should hold as resistance […]
Retailers (RTH) At Important Cusp
Here are the top 10 holdings of the Retail Holders Trust ETF (RTH). Wal-Mart Stores, Inc. Common St WMT 17.76 Home Depot, Inc. (The) Common S HD 13.44 Amazon.com, Inc. AMZN 12.69 Walgreen Co. Common Stock WAG 7.23 Target Corporation Common Stock TGT 6.97 Lowe's Companies, Inc. Common S LOW 6.65 Costco Wholesale Corporation […]
Huge Indecision Area On Major Equity Indices
The Russell 2000 is at the 50 day moving average as well as a horizontal and uptrend resistance area. The S&P 500 has now put in three weekly doji closes in a row….indecision is an understatement. While it can break in either direction at any time, this choppy sideways action can also continue. Our […]
A Trading Plan Is The Key To Successful Trading
Without a clear trading plan no one can make money consistently. A trading plan allows the trader to execute his/her trades in a consistent manner and without letting emotions get in the way. Clear entry points, stop-loss and profit targets are predefined by in the trading plan, allowing the trader to focus on execution […]
JPMorgan (JPM) Bullish Setup In Progress
On the back of my update on the financials yesterday (read HERE) I am keeping a close eye on JPM. On a relative basis it has remained one of the better acting banks over the past weeks and as such i am looking for leadership there. If you look closely you can see the bullish […]
Burberry (BRBY – LSE) Eyeing Lower Levels
After announcing earnings yesterday, Burberry tumbled lower and today is regaining some footing. The theme among clothing retailers has been the same, be it Aeropostale (ARO), Ralph Lauren (RL) or Gap (GPS)…higher input costs are weighing on profit margins. The charts are broken for the medium term and there are various strategies to apply here. […]
Stocks In Europe Reverse Early Gains (Chart)
Check out the intraday reversal in the Euro Stoxx 50. We are short some Burberry after they announced earnings this morning. In the same space, Ralph Lauren (RL) yesterday took it on the chin after announcing 4th quarter numbers and revealing that higher input costs are crushing margins. We are short some far out […]
Update on Financial Stocks. Where Is The Bounce?
Last week I pondered whether the financial sector might be due for a bounce soon. Read here. Thus far the financial sector has not bounced since I wrote last week. As we are heading into a long weekend and the tape is choppy I wanted to give a quick update. I don't want to […]
Various Market Thoughts – Time To Shorten Trading Horizon
Despite a bounce in the major averages yesterday, the market remains in no-man's land and is churning away. Given all the headwinds I discussed here tirelessly I think the direction of stock prices over the next two months is flat to down. As such we are increasing our focus on shorter-term trading in Bucket 1 […]