Today’s morning market video. Watch here:
http://steadytrader.wpengine.com/video-2/april-2011-2/
Quick Daily Summary Thoughts – April 19
Well, after a morning of backing and fillling (the gap), stocks decided to edge higher by roughly 0.50%, depending on which u.s. index you look at. Monday's 15 point gap lower only has about 5 points left to go to fill entirely. One of my key shorts as of late is RIMM, and it treated […]
Ketchup A Good Investment Now? Heinz (HNZ)
I wrote about cyclicals vs. non-cyclicals earlier this week. The point was that some non-cyclicals like consumer staples are decoupling from the S&P 500 and ripping higher. Read here: http://www.minyanville.com/businessmarkets/articles/sp500-utilities-consumer-staples-financial-sector/4/18/2011/id/34021 In that group of stocks we also find Heinz (HNZ). While Ketchup arguably goes well with many types of foods (eggs & hashbrowns anyone?), at this […]
Harley Davidson (HOG) Taking It On The Chin
HOG is down 4.3% today as of this writing on the back of weaker than expected earnings. Margins schmargins…yes they are important but I wonder if some investors aren't realizing that the ultimate discretionary spending toy (a Harley) may soon not be on everyone's list anymore…top of cycle etc. To the charts and we see […]
Banks Faltering!
It's been a topic of much mention on my part over the past few weeks and our subscribers have taken full advantage of this trade – short banks vs the S&P 500. Thus far our focus has been on Bank of America, Goldman Sachs, JPMorgan. Today however two other characters enter our rader. Bank […]
Goldman Sachs (GS) Close Below $151.50 Is Interesting
Yesterday's low in GS was at $151.50, where it bounced quite hard. Should we get a close below that level today I will consider a bucket 2 short side stab. In the chat-room this morning we are discussing this in great detail. http://steadytrader.wpengine.com/members-area/
American Express (AXP) Looking Good But Earnings Ahead
American Express (AXP) looks good here tecnhnically, respecting and above both the 50 day and 200 day moving averages. Resistance is just above at $47 and if cleared has room to next resistance at $49, and then much higher. The caveat is earnings coming out April 20 after the closing bell, so we in the […]
Today’s pre-market video has been uploaded. Watch here:
http://steadytrader.wpengine.com/video-2/april-2011-2/
Morning Look At the S&P 500 Technicals
Good Morning All! A real quick glance at the chart of the SPX technicals reveals a bullish close yesterday (long tail on the candlestick), as well as closing above the critical 1300 area. One more bullish day today would confirm a near-term bottom. On the other hand, one more weak day today could lead the […]
Where We Stand: A Look at S&P 500 Sectors and Industries
The S&P 500 is currently battling it out with the most immediate support ($1275 – 1300) and resistance ($1345) levels on the daily charts. While investor sentiment is skewed to the bull-side, among the more active types (hedgies and such) the view seems to be more two-sided. As such I thought it would […]