Home Builder Stocks Continue To Struggle
Home builder stocks continue to struggle while adapting to this higher yield environment. For a little perspective I drew the below chart, where I plotted the SPDR Homebuilders ETF (XHB) versus the yield on 10 year US Treasury Notes. Since the home builders topped in May, the XHB is roughly nine percent lower and treasury […]
S&P 500 and Dow Industrials – Staying The Trend Until It Ends
With last Friday’s better than expected U.S. jobs report both U.S. and European headline stock indices broke key resistance areas. With the S&P 500 above 1600 and the Dow Jones Industrial Average near the 15,000 mark, what’s next for the broader tape? The 2013 rally has frustrated many a bear, yet from a trader’s point […]
Market Outlook Monday April 8
As Sam is taking a well-deserved vacation break, I have been asked to cover for him for the next two weeks. I am honored to be sitting in and looking forward to sharing my views with his readership, and of course encourage any questions/comments on the daily takes. The Arrival of April last week brought […]
Best Buy Still More Room Higher
The stock price of electronics retailing giant Best Buy Co., Inc (BBY) has seen its fair share of pain over the past three years. What in early 2010 was a stock trading well into the mid $40s wilted down to a shaky chart trading in the low teens by the end of last year. As […]
CIT Group Ready To Break Out Higher
Banking firm CIT Group Inc (CIT) much along with the broader banking sector has risen steadily off the November 2012 intermediate term lows. In late January the stock broke to the upside of a multi-year trend line, and has been shuffling sideways ever since. This is setting the stock up for further gains in the […]
Dow 14K, Now What?
The past seven days have seen choppy trading in the major U.S. equity indices. The Dow Jones Industrial Average too was exposed to the volatility but with it the blue chip index managed to get to the milestone 14,000 mark. While ‘Dow 14K’ makes for a great headline, the question worth asking is – ‘what […]
St. Joe Company (JOE) Flashes A Short-Side Trade
Now that my trade idea on Yelp, Inc. (YELP), which I posted last Thursday January 3rd (http://investorplace.com/247trader/more-upside-ahead-in-yelp-yelp/), has reached its profit target at $21.60 (a 7% gain), it’s time to look for the next high probability trade setup. The housing/real estate space as a whole had a good run higher in 2012. For a basic […]
Gold: No rush to get long
Gold bled lower the entire month of December and currently has many folks screaming to buy’em again. What some of them may be forgetting however is that gold has been moving lower since October 2012, and at least from a momentum perspective doesn’t yet feel entirely ready to bounce back up. As I will describe […]
Bulls on Parade for Under Armour Stock
Sports apparel and accessories company Under Armour, Inc. (UA) continues to reward trend followers as well as quick traders. Those leaning against the stock had to be happy with quick trades and exercise iron discipline in recent years, while the bulls keep pushing higher. Such is often the case for trend follower stocks, and sticking […]
Apple above key resistance, now what?
On July 25th I discussed here (http://investorplace.com/2013/07/daily-stock-market-news-how-high-will-aapl-go-from-here/) that with Apple Inc (AAPL) pushing past the $430 area it hurdled past an important point: “the $430 level is a confluence zone made up of the May downtrend line and the 50-day and 100-day simple moving averages.” I further mentioned on the same day that by overcoming […]