Open Table (OPEN) Is At An Important Price Level
OpenTable (OPEN) is up roughly 200% in the past 12 months and over the past few weeks has put in a more concerning topping pattern thus far. In December resistance at $83 was broken and now looks to be acting as support. Valuation-wise one could well argue current levels are frothy. Additionally, should prices slide […]
Morning Thoughts December 1st
Yesterday's rally has brought us to levels in equities that give us hope for more upside into year-end and possibly into January/February. The three day rally has brought the S&P 500 up to an immediate-term overbought level. After a pullback to the 1220-1230 level or so we would look to leg into some Bucket 2 […]
Bucket 3 Idea: OIH
OIH is the oil services ETF and currently loooks to be sporting an inverted head & shoulders on the daily chart below. Given the broader market cross currents this is one of those instances where risk management becomes ever more important than usual. We plan to go long for an initial Bucket 3 positon either […]
Afternoon Update – Watching the USD
The dollar remains the most important chart to watch in our opinion and while it too seems to have binary-move potential it will most likely dictate the way the rest of the risk assets go. On the daily chart looking back three years we see a higher low accomplished earlier this year and now some […]
Morning Thoughts November 1
After yesterday's late-day selloff markets this morning look much weaker still as we approach the opening bell. It's not our job to read news headlines to you but here's why we are selling off: Bloomberg quote – "Greek Prime Minister George Papandreou called a referendum and a parliamentary confidence vote, raising the prospect of derailing […]
Gaps update…
yesterday and this morning the big gap up from last Thursday's euro bailout joy filled. now this mornign we woke up to a 31 point gap. so far today we have filled half of it. the other half remains but has a decent chance of filling someitme today.
profit taking
this morning… we took full profits in our Bucket 2 shorts in: SPY we took full profits in our Bucket 3 shorts in: CAT AAPL we took half profits in our Bucket 2 shorts in: WYNN …at first profit target at $128
MS bucket 2 long-side is interesting
we may consider a new long position in MS for bucket 2. banks remain underowned and overshorted and as a relative outperformer we like a few select names going into end of November should the performance anxiety hit. right now the stock is still at the 50 day moving average and at the 50% retracement […]
italy 10 year bonds…for some perspective
we don't reference the bond market enough…we will do this more as it is the key driver at the moment…as it often is. the issue with italy is clearly reflected in teh 10 year bond yield of italian bonds. essentially their borrowing cost is more than 6% now…that's not healthy