Morning Thoughts November 2
If the past five trading days weren’t nutty enough for traders I’m not sure what will qualify as such. After a massive rally into the second half of last week, equities plunged on Monday in tune with Halloween. Stocks still posted big gains for the month of October with the S&P 500 gaining around eleven […]
Two Ways To Trade Target (TGT)
Retail giant Target Corp. (NYSE:TGT) has come back on my radar as the stock sits in a crucial area that has potential both to the long and to the short side. On the weekly chart note a multi-year area of resistance around $60 while multi-year support comes in around $45 (the $15 in between […]
Industrial Stocks Under Severe Pressure
After rising close to 160% from the lows in March 2009 to the highs in early May this year the industrial stocks as a group as measured by the Sector SPDR Industrial ETF (ARCA: XLI) have come under pressure and broken the blue up-trend line, which is a development worth noting. The early July […]
Major Top in Dow Transports?
this chart from one of the readers from businessinsider.com is key to watch and is very much in line with our forecasts beyond the next few weeks.
Closing Research In Motion (RIMM) Short
Folks, we just closed (i.e bought back the out of the money calls we sold a while back) our short in RIMM. We discussed opening this trade HERE and HERE. Now that our profit target near the $40 area, and at the bottom of the long-term downward sloping channel has been reached we feel taking risk […]
Do You Have A Trading Plan? Consider Ours
Without a clear trading plan no one can make money consistently. A trading plan allows the trader to execute his/her trades in a consistent manner and without letting emotions get in the way. Clear entry points, stop-loss and profit targets are predefined by in the trading plan, allowing the trader to focus on execution […]
Early Thursday Morning Market Thoughts
It goes without saying, yesterday's market action was ugly. The clearest signal of further risk aversion in my mind came with the fake breakout higher on Tuesday, the last day of May. In hindsight it is now clear month-end games were in high gear last week, and until Tuesday of this week. The blatant disrespect […]
Short-Side Opportunity in VMWARE (VMW)?
VMWARE has become traders' favorite momentum name over the past twelve months or so, and for good reason – even if few understand what 'cloud computing' really is. The stock bottomed in late 2008 near $17 and reached a new 52 week high yesterday at $102.74. In 2011 so far the stock displayed great volatility […]
The Cost Of Healthcare Continues To Rise…
See the below chart, which shows total labor compensation increase in the first quarter of 2011 of 0.60%, but if you take into consideration the benefits cost (healthcare), net labor compensation only rose 0.40%. businessinsider.com pointed this out and the statistics are from the Stlouis Fed.
A Look At Silver After Last Night’s Crash
Last night silver futures fell as low as $42.20, about a 10% sell-off. As of this writing the futures have rallied back up above the $45 mark, but still down over 6% on the day. See the intraday chart. On the daily chart note the uptrend measured from the end of January is still in […]