End Of The Rally For Tesla Motors, Inc?
Tesla Motors, Inc. (TSLA) couldn’t get out of its own way yesterday Tuesday July 16th and after it was all set and done closed the day lower to the tune of 14.80%. The culprit? A stock and group downgrade note by Goldman Sachs (GS). Through a multi-year perspective note that the stock traded in an […]
ConocoPhillips Makes It Fourteen Straight Up-Days
Oil and natural gas exploration and production giant ConocoPhillips (COP), along with the broader market rallied strongly off the June lows. On a daily closing basis the stock rallied just about 10% in a straight line, or, in fourteen consecutive up days. As an aside, the S&P 500 has now rallied nine straight days and […]
Consumer Discretionary Sector Overheated
The massive run higher off the 2009 lows in stocks has been well documented and according to the latest investor surveys is shaping more bears into bulls on a daily basis. One sector with a particularly nutty stretch (i.e. steep rally) since then is the consumer discretionary stocks here-forward represented by the SPDR Consumer Discretionary […]
AMZN – No Reason To Chase At These Levels
On July 3rd I mused here (http://investorplace.com/2013/07/amazon-should-make-a-run-to-300/) that ‘Amazon Should Make a Run to $300.’ Now, six full trading sessions later Amazon.co, Inc (AMZN) has hit and even marginally exceeded my $300 price target and it’s time to revisit the charts. In short, the 8.30% rally since July 3rd has pushed the stock into overextended […]
Apple Riddled With Lousy Price Action
When I last chimed in on Apple (AAPL) on May 28th (here: http://investorplace.com/2013/05/apple-stay-bullish-above-430/) the stock had shown some positive signs, yet not enough to make me a compelled buyer. More specifically I wrote that: ‘As long as Apple can hold above $430, it favors an eventual push higher past the 100-day moving average and early May highs […]
Will Oil Break Past $100?
On May 31st I discussed gasoline prices for the summer driving season (here: http://investorplace.com/2013/05/where-will-gasoline-prices-go-from-here/) and used the U.S. Oil Fund (USO) as a proxy for oil prices. Over the past four days the price of light sweet crude oil has risen and is slowly pushing toward the $100 mark again, sparking my interest to take […]
Russell 2000 Ripe For Another Leg Lower
After a final rally higher off the April lows, the iShares Russell 2000 Index Fund (IWM) put in its year to date high on May 22nd, along with the S&P 500. Over the next few weeks of trading two things changed notably: 1) intraday volatility in equities spike higher, indicating increasing nervousness on part of […]
Market Outlook Wednesday June 26th
Welcome to hump day, which given where the market currently sits may just offer traders a curve ball or two. Since we never know what the outcome of any given trade will be, my mantra of dealing with this uncertainty is to fully embrace it. If we fully embrace the inherent uncertainty in trading, then […]
Homebuilder Stock In Classically Bearish Formation
The past two days of post FOMC meeting trading have not been kind to most stocks, which includes the home builders such as KB Home (KBH). The stock, which topped in mid May is now roughly 20% off the year to date highs and has arrived at an important support line both in the near […]
Market Outlook Tuesday June 25th
Before I get started with my take on the current state of the markets, I would once again like to thank the Investorplace.com community for continuing to value my inputs. It’s a great honor to be able to step in when the venerable Sam Collins takes a couple of days off. When I last wrote […]