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 […]
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 […]