The Nikkei Tanks, What’s Next?
Japanese equities have seen quite the movements so far this year. The benchmark Nikkei index rose just about 50% from January 2nd until May 22nd, but post the FOMC meeting notes lost a quick 7.30% on May 23rd. It’s a frisky pup this Nikkei, and you wanted to be a trader? While the sharp and […]
Agricultural Chemicals Stock At Last Technical Support
Not many stocks this year are in the minus column for the year, but those that are may get weaker still if and when the broader market were to correct a few percentage points. One company who’s stock recently seemingly couldn’t get out of its own way is agricultural chemicals firm Agrium Inc. (AGU), year […]
Yahoo A little Too Frothy Near-Term But Solid Longer-Term
Global internet media company Yahoo! Inc. (YHOO) has made the news more frequently than Lindsay Lohan over the past couple of years. From restructurings to corporate raider attacks, a new CEO, and most recently an expansion in New York City, including the acquisition of Tumblr for $1.10 billion, it’s been enough to make even the […]
Google Near-Term Overbought
Google Inc (GOOG) is currently higher by a little over 28% on the year, which makes chasing the stock to upside more and more difficult, at least in the near-term. Over the past week I have encountered a larger than usual number of inquiries regarding the stock as last week’s announcement by the company about […]
Gold and Silver, How Low Can They Go?
Since my last update on gold and silver on April 16th (http://investorplace.com/2013/04/daily-stock-market-news-carnage-in-gold-and-silver-could-be-a-leading-indicator/), both proceeded to bounce somewhat but subsequently gave way to the laws of physics and are now at, in the case of gold, or well below, in the case of silver, where they traded then. In other words, both of these precious metals […]
PSX – Oil Refinery Stock Readying Key Breakout
As stocks continue to rally and the S&P 500 is now higher by close to 17% year to date, individual groups of stocks continue to break out past clearly-defined resistance points. For example, two weeks ago the consumer apparel group made a move, followed by select technology stocks and of course the financials last week. […]
Facebook Stock In No Mans Land
Social networking website Facebook Inc (FB) this week celebrates the one-year anniversary of its initial public offering. On May 18th 2012 the company sold shares to the public at $38 per share, and the time had a valuation larger than Walt Disney (DIS), among other large companies. Fast forward twelve months and the stock trades […]
Nokia, Still A Sloppy Chart
Global mobile communications company Nokia Corp (NOK) hasn’t had the best start to the year as it currently again wobbles around around the -8.00% year to date. Of course the company’s fall from grace over the past decade or so has been well documented as competitors like Apple Inc (AAPL) and Samsung have pulled the […]
Solar Energy ETF Still Eyeing Upside
Solar energy stocks are known to be rather choppy in behavior, which is why last Friday’s May 10th breakout to 2013 highs of the Guggenheim Solar ETF (TAN) sparked my interest. Through a multi-year lens the exchange traded fund, and hence its holdings, has seen a rough going in recent years. The bleeding however stopped […]
Coach, Inc Coiling-Up For Further Upside
Fashion accessories firm Coach, Inc (COH) has seen an impressive 17.50% rally over the past three weeks as both U.S. and European stock markets pushed sharply higher. Even though medium-term overbought, the stock still looks to have another 4 %- 5% left to go until better resistance is reached. On the multi-year chart below, Coach, […]