Global Equities Bid Higher Ahead Of June Jobs Report
While I don’t expect much volatility in world markets today with the absence of a liquid dollar market due to the 4th of July independence day holiday, I thought it may none the less be worth looking at a couple of noteworthy charts out of Europe. First, note that although today July 4th US markets […]
China Large Cap Stocks (FXI) Vulnerable For Further Downside
China recently lowered its annual growth rate target for the decade down to 7%. How, if at all should this reflect Chinese stock prices? I took a look at the charts of the iShares China 25 Fund (FXI), representing the large cap space, for a view from the technical front. Just like U.S. and European […]
CarMax Running Out Of Gas
Car and truck retailer CarMax Inc. (KMX) had a massive rally off the 2009 lows. In early 2009 the stock had a price tag of a mere $7.00, which over the course of four years grew to the low $40s. After consolidating for most of 2011 and 2012, the stock staged a renewed major breakout […]
More Upside For Wal-Mart
Wal-Mart Stores Inc. (WMT) bounced more than 5.00% over the past five trading sessions and is bumping up against important intermediate term resistance. The stock’s performance year to date is relatively in line with that of the S&P 500 but if it can hurdle past resistance may turn into an outperformer in the intermediate term. […]
Google: Upside Risk-Reward Much Improved
When in early-mid February the stock price of Google Inc (GOOG) went vertical and hit an all-time high just above the $800 mark, I raised my hand and discussed here (http://investorplace.com/2013/02/google-stock-needs-to-reload-after-hitting-800/) that the stock is overdue for some price consolidation. Now that the stock has consolidated and broken past recent resistance, it again looks to […]
Broker/Dealers On A Tear, Don’t Chase
Along with, or should I say, pulling the broader market along in recent weeks, the financials have been on a massive tear. Within the financials complex, the broker/dealers as measured by the AMEX securities broker/dealer index displayed an even more impressive rally; a solid 33% off the November 2012 lows. Consolidation? What Consolidation? Who needs […]
GM Stock Gone Vertical
General Motor Company (GM) had a massive rally off the July lows and now a trade may be setting up. For reference, the stock remains well off its late 2010 IPO price of $33 despite recent strength. In case you are into news-flow, both strong vehicle sales as well as statements by the U.S. government […]
Salesforce.com Still Catching Non-Believers Off-Guard
Customer relationship management software provider Salesforce.com (CRM) late last week announced its latest upbeat second quarter results, leading the stock to jump 12.55% on the day. This trend follower cult stock has won many battles with short-sellers over the years as it continues to surprise on the upside, leading to short-squeezes and new long-only money […]
Amazon Eyeing An Important Chart Breakout
Online retailing giant Amazon.com, Inc (AMZN), after pulling lower along with the broader market during part of the 2007 – 2009 financial crisis, still continues its rally off the late 2008 lows in unabated fashion. Since then the stock has lifted roughly 680% despite a few meaningful pullbacks along the way. In other words, just […]
Dow Transports Defined Risk Short Setup
As stock’s cratered into the end of the month of May last Friday afternoon, plenty of sectors, groups, and individual stocks left nasty bearish reversals behind on their daily charts. One group of stocks that I have been eying for several months not to exhibit shortable weakness is the Dow Transportation stocks as represented by […]