Altria Group (MO) All-Time High A Fade?
Yesterday MO made a new all-time high and as such closed above last November's high. With earnings coming up on April 20th and the stock having had the massive move up, the question I am asking is whether it is worth trying to fade this potential double-top formation. Fundamentally speaking I can see demand from […]
Chesapeake Energy (CHK) Failing At Important Levels
Yesterday I scribbled about the nice consolidation phase in CHK and how above $34.60 I could be a buyer for a bucket 2 trade, see here http://steadytrader.wpengine.com/chesapeake-energy-chk-attractive-above-34-60/ Today's price action is entirely different and all the more important to note. Today CHK broke below an uptrend line in place since last December, as well as the […]
Oil’s Pullback So Far Is Healthy Consolidation
Despite all the headlines oil's 7% drop has made this week, oil thus far still remains above the $105 level where it broke higher from in late March. As discussed in today's Morning Line-Up Newsletter however, I would not be a buyer here until I see price stabilize. My long target (i closed my longs […]
Morning Thoughts November 11
The freak show that is the current volatility in the markets continued yesterday as stocks opened higher, tested the Wednesday lows and rallied back up to the open levels again. Nutty? Sure. But it is also what is and as traders and investors we must make the best of it. That is not to say […]
Italy Yields vs France Yields
people are saying France is next with a run on its yields. couple of things though: france is not italy…they are much more conservative in their spending habits looking at the yield graph below it is clear that french 10 year bond yields are nowhere near those of italy. so…let's keep things in perspective and […]
Equities versus credit
the white line is the S&P 500 futures the orange line is investment grade credit the yellow line is high yield credit the smart money trades credit so we must follow their moves. yesterday (thurs nov 10th) credit ended the day at the lows of the day (spread at highs means price is at […]
Today’s Morning Market Video:
http://steadytrader.wpengine.com/video-2/video-october-2011/
Hartford Insurance (HIG) long-side idea
in line with our theme that financials will have to outperform should we get this 'year-end' rally…note the chart of HIG: as an insurance company it is also a levered play on interest rates. a solid daily close above $18.50 would get us long the name for a B2 try.
RIMM long-side idea…
we played the previous gap higher from near $26 up to near $33.50 back in late August. the stock is now again setting up to try and fill a gap..this time the down-gap from September 16. a solid daily close above the 50 sma (yellow line)…near $26, would get us long for a B2 try.
Our plan for the coming days…
we are anticipating a higher low in the major U.S. equities to be forming over the coming days. if and when that comes to pass we would look to add bucket 2 long-side exposure in financials, energy, and possibly some european stocks via the EWG etf. we want to keep alot of cash in the […]