Market Outlook Monday April 8
As Sam is taking a well-deserved vacation break, I have been asked to cover for him for the next two weeks. I am honored to be sitting in and looking forward to sharing my views with his readership, and of course encourage any questions/comments on the daily takes. The Arrival of April last week brought […]
Best Buy Still More Room Higher
The stock price of electronics retailing giant Best Buy Co., Inc (BBY) has seen its fair share of pain over the past three years. What in early 2010 was a stock trading well into the mid $40s wilted down to a shaky chart trading in the low teens by the end of last year. As […]
CIT Group Ready To Break Out Higher
Banking firm CIT Group Inc (CIT) much along with the broader banking sector has risen steadily off the November 2012 intermediate term lows. In late January the stock broke to the upside of a multi-year trend line, and has been shuffling sideways ever since. This is setting the stock up for further gains in the […]
Dow 14K, Now What?
The past seven days have seen choppy trading in the major U.S. equity indices. The Dow Jones Industrial Average too was exposed to the volatility but with it the blue chip index managed to get to the milestone 14,000 mark. While ‘Dow 14K’ makes for a great headline, the question worth asking is – ‘what […]
Gold: No rush to get long
Gold bled lower the entire month of December and currently has many folks screaming to buy’em again. What some of them may be forgetting however is that gold has been moving lower since October 2012, and at least from a momentum perspective doesn’t yet feel entirely ready to bounce back up. As I will describe […]
St. Joe Company (JOE) Flashes A Short-Side Trade
Now that my trade idea on Yelp, Inc. (YELP), which I posted last Thursday January 3rd (http://investorplace.com/247trader/more-upside-ahead-in-yelp-yelp/), has reached its profit target at $21.60 (a 7% gain), it’s time to look for the next high probability trade setup. The housing/real estate space as a whole had a good run higher in 2012. For a basic […]
Bulls on Parade for Under Armour Stock
Sports apparel and accessories company Under Armour, Inc. (UA) continues to reward trend followers as well as quick traders. Those leaning against the stock had to be happy with quick trades and exercise iron discipline in recent years, while the bulls keep pushing higher. Such is often the case for trend follower stocks, and sticking […]
Apple above key resistance, now what?
On July 25th I discussed here (http://investorplace.com/2013/07/daily-stock-market-news-how-high-will-aapl-go-from-here/) that with Apple Inc (AAPL) pushing past the $430 area it hurdled past an important point: “the $430 level is a confluence zone made up of the May downtrend line and the 50-day and 100-day simple moving averages.” I further mentioned on the same day that by overcoming […]
American Express Defined-Risk Short-Side Setup
Global payment and travel firm American Express Company (AXP) has participated nicely in the year to date rally, as its stock is 23% higher since the beginning of the year. While the stock’s longer-term charts still support higher prices over time, last Friday’s price action favors the odds for a short-side mean-reversion trade with clearly-defined […]
Micron Technologies Gapping Higher
Very much like the stock of Alcatel-Lucent (ALU), which I discussed HERE yesterday, Micron Technologies (MU) has been trading in the shadows of its heydays for over a decade. For a little perspective, see the below chart looking all the way back to 1999. What once was a high flying stock trading close to the […]