Morning Thoughts May 25
Directionless – volumes down 10% DoD (-7% vs 10day ave) – quieting down as head to 3 days weekend – SPX rallied late day (and regained day’s VWAP) on headlines Italy PM Monti reit support for euro bonds and said “hopeful Italy can move Germany to accept actions for the greater good of the EU”. […]
Please See This Chart!
Please see where the S&P 500 is and where the VIX sits…last time VIX was at current levels the S&P was very toppy…just before the August fireworks.
Morning Thoughts Feb 24
BEST SECTORS: E&C +4.1%, Housing +2.2%, Biotech +2.2%, Brokers +1.6%, REIT +1.4%, E&P +1.3% WORST SECTORS: Solar -6%, Airlines -1.3%, HMO -0.9%, Utilities -0.3%, Fertilizers -0.2%, Coal -0.06% Strong showing on thin vlm – SPX futures (ESH2) hit key 1,350 early and bounced – Nasdaq100 another fresh 11yr high close (despite AAPL didn’t announce a […]
AAPL Heading To $480
Apple Inc. (AAPL) continues to shape the tape somewhat each day and plenty of investors with a cost-basis above $650 abide by the hope and pray strategy for the stock to go higher. For a little more clarity using the more proven technique of technical analysis, let’s look at a few charts. When it comes […]
Apple renewed on slippery slopes
It’s now nine trading sessions ago since I last mused about the technical picture of Apple Inc. (Nasdaq: AAPL). On March 25th I discussed (here: http://investorplace.com/2013/03/apple-still-has-some-technical-juice-left/) that the stock looks to have enough juice left for another marginal move higher, while the $450 area would be my line in the sand to potentially consider the short […]
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 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 […]
Natural Gas – A Trader’s Delight
Yesterday, natural gas futures dropped to a six-week low in New York as forecasts for more moderate temperatures (less demand for the heating fuel) caused traders to sell. As such I thought it would be worth taking a look at natural gas from a technical perspective to see whether any trading opportunities can be found. […]
JCP – Better Technical Resistance 10% – 18% Higher
Department store operator/retailer J.C. Penney’s (JCP) fall from grace in recent years has been well documented. The analyst community’s seriously feisty opinions on both sides of the stock is almost Apple-esque (AAPL), which is a testament to how broad an audience is following this story. The longer-term chart shows the stock’s dramatic 85.00% fall from […]
Charts And Thoughts For The Week Ahead
It was a tricky week of trading last week. As we head into the new week let’s look at some charts for perspective; The S&P 500 and Nasdaq 100 left outside weeks on their weekly charts while the Russell 2000, the transports and financials had inside weeks. Both types of candles are potentially bullish, but […]