Friday’s Weakness In Stocks Something To Behold
With many market participants filing out early into the weekend last Friday, it likely didn’t take much to push stocks over the edge Friday afternoon. While the S&P 500 still closed the month of May roughly 2% higher, Friday’s cascading lower in stocks, right into month end is something to behold but not to get […]
More Pain For Silver
With yesterday’s slide below key medium-term resistance in the price of silver, judging by the media attention, the sell-off seemingly took more than a few players by surprise. As I pointed out yesterday in my take on gold here (http://investorplace.com/2013/04/go-for-the-gold-but-do-it-quickly/) the charts for both metals do not look good for bulls, at least not for […]
Bonds: Weakness begets further slide
The temporary fiscal cliff ‘resolution’ started the new year off with a big rally in equities, sending the S&P 500 to the best levels since mid October and just twelve points below the 2012 high. Bonds on the other hand took a beating and look vulnerable for further weakness ahead. The 10 year Treasury yield […]
YELP Inc. – More Upside Ahead
Online urban city guide Yelp, Inc. (YELP) just flashed a buy signal. Here is what I am seeing; On December 4th I opined right here (http://investorplace.com/247trader/jump-on-the-short-side-of-yelp/) that Yelp, Inc. (YELP) was then offering a good risk/reward short-side trade for the quicker hitters. Two days later and 8% lower the stock came within 50 cents of […]
Gold, potential for a bottom building phase
Two weeks ago, on June 19th I last publicized my thoughts on the state of gold here http://investorplace.com/2013/06/gold-has-gone-ice-cold/. Since then the yellow metal has done just about exactly what i thought it would and reached my downside targets, which now leads me having to take a step back and evaluate what may be next in […]
3 Blue Chips on Technically Thin Ground
The Dow Jones Industrial Average Index is up by a little more than 12% year to date and still very close to the all-time highs set back on April 11th at 14’887.50. As such, I thought it’s time to scan the index for components that are sitting on thin support, which if broken could lead […]
Akamai Technologies’ Persistent Weakness
Computer software firm Akamai technologies Inc (AKAM) thanks to its underperformance year to date has arrive at a critical point on the charts. Most broader U.S. and European equity indices remain at or well above their up-trend lines from last summer. The stock price of Akamai technologies Inc (AKAM) however broke said up-trend long ago and […]
Gold, awaiting price confirmation
On February 21st I discussed here ( http://investorplace.com/2013/02/dont-chase-gold-further-into-the-hole-not-yet-anyway/ ) that risk/reward was unfavorable for those looking to chase gold lower at the time. Since then gold has indeed refused to go lower and even bounced a little higher. Now, some 5 1/2 weeks later I am looking at gold in the greater context as it relates […]
Visa Topples Off An All-Time High
Visa Inc. (V), the operator of a retail electronic payments network (credit cards and more) rose sharply in recent years, and found a particularly steady bid since the summer of 2011. The prospects of increased consumer spending, credit growth, and an all around improving economy blasted the stock higher to the tune of roughly 165% […]
Market Outlook Friday August 2nd
Before I start today’s morning missive, allow me to once again thank Sam Collins for allowing me to pitch in over the past two weeks. It has been both a pleasure and an honor to share my daily morning thoughts with his loyal audience. If you have questions about my approach to trading the markets, […]