Euro Stoxx 50 Breaching Major Uptrend line
As flagged several times the past few weeks, the Euro Stoxx 50 index was in danger of breaking a major uptrend line that has been in place since May 2010. That uptrend has now officially been broken as the index closed below it two days in a row and today is continuing that slide. […]
Pizza Rally! Dominos On Fire
After announcing its earnings on May 5th, Dominos Pizza has rallied 28% in just about one month. Papa John's (PZZA) has also staged a major up-move over the same time-frame. I've pointed out the massive gap in the chart of DPZ several times this year so I wanted to follow up. See the chart […]
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Morning Line-Up
Good morning and happy Friday! After a fairly flat broader tape yesterday, we rise this morning to most things, dollar and treasuries aside, trading at higher prices. The Euro continues its astonishing rally on the back of the rate-hike the other day. Gold, silver, oil, and stocks are all up solidly ahead of what looks […]
Dominos Pizza (DPZ) – Rising Dough
Back in 2007 DPZ started a massive sell-off that took it from a high at $35.67 to a low at $2.61 just 18 months later. Since the bottom in late 2008 DPZ has staged an equally massive comeback and currently trades around $18 and change. The longer-term picture I look at here has to do […]
Update on Ford and Cisco
As bucket 3 longs, I am giving CSCO and F stops that are somewhat longer than for bucket 2 swing trades. After breaking out of resistance levels earlier this week, both stocks have given back some the past two days. So far the action looks like healthy consolidation. In both stocks, should they meaningfully fall […]
Oil (Light Sweet) Is Up In Early Going, Please Watch
Oil was also defiantly strong yesterday despite a strong equity trade. Should it keep rising today then at some point equities have to play catch up. … to the downside that is.
Apollo Group
Apollo (APOL) Group Setting Up For A Buy. APOL has been on my radar for several months now. After the big earnings drop in October I had sold calls and collected nice premium when shortly thereafter the volatility came crashing down and the stock paddled sideways for a while. Now the setup is much different: […]
Closed B2 Short Position In WYNN
We just closed the rest of the WYNN short position we had. Closing price was 112.85. The rational is the same as for the closing of the short position in SPY…we want to be as flat as possible going into Thurs and Fri. If the market falls appart we will have plenty of time to […]