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 […]
American Express Defined-Risk Short-Side Setup
Global payment and travel firm American Express Company (AXP) has participated nicely in the year to date rally, as its stock is 23% higher since the beginning of the year. While the stock’s longer-term charts still support higher prices over time, last Friday’s price action favors the odds for a short-side mean-reversion trade with clearly-defined […]
Micron Technologies Gapping Higher
Very much like the stock of Alcatel-Lucent (ALU), which I discussed HERE yesterday, Micron Technologies (MU) has been trading in the shadows of its heydays for over a decade. For a little perspective, see the below chart looking all the way back to 1999. What once was a high flying stock trading close to the […]
Gold
On July 2nd I scribed here (http://investorplace.com/2013/07/gold-might-finally-be-building-a-bottom/) that gold might finally be in a longer-term bottom building process. While the SPDR Gold Shares (GLD) exchange-traded fund now trades more than six percent higher since July 2nd, I also discussed that this bottom-building process will take time and marginal lower lows are still certainly a possibility. […]
Abercrombie & Fitch At Decision Point On The Charts
Casual sportswear apparel retailer Abercrombie & Fitch Co. (ANF) has seen a choppy going year to date but has rallied strongly off the June lows. In fact, the rally since the June 24th lows in the broader market has now taken the stock right back to an important area of resistance where the stock has failed […]
Dollar General Double Top, Now What?
Discount retail store operator Dollar General Corp (DG) reported its latest earnings yesterday May 4th. Courtesy of a weak report across the board the stock closed 9% lower on the day, taking many of its competitors with it lower as well; Family Dollar Stores lost 2% and Dollar Tree Inc (DLTR) lost 1%. They say […]