Google: All-Time Highs, Now What?
Earlier today Google Inc (GOOG) hit a new all-time high and because the most recent ascent in price mimicked that of a solid double diamond ski slope, let’s review where we are and where the stock may go in the near future. Like most stocks, Google Inc (GOOG) rallied strongly off the late 2008/early 2009 […]
Three Stocks, One High Probability Pattern
With stocks continuing their 2013 rally the probability of further gains without any better consolidation in price is reduced by the day. This however is not to say that stocks can’t continue to rise, but overbought stocks that are flagging the consolidation sign may be worth trying on the short-side for a trade. My chart […]
Apropos Stocks Gone Vertical
The S&P 500 thus far in 2013 has rallied just about 6.50% without any real consolidation in price. While the price action feels very extended, it does mostly so because of the one way uphill street we have taken so far this year. To put this in context however, just looking back 12 months reveals […]
Grocery Stores Stocks; A Mixed Bag
Grocery store stocks aren’t on the top of the list of many traders, but the 35% rally off the summer 2012 lows in The Kroger Co. (KR) caught my interest and led me to look at some of its competitors’ stocks. After looking over the charts of some of these stocks I have come to […]
Herbalife, which side are you on? Ackman or Icahn?
On the Herbalife (HLF) debate, which side are you on? Ackman or Icahn? For a little Friday fun ahead of a three day weekend please cast your vote here: http://marketfy.com/ackman-vs-icahn/?utm_campaign=website&utm_source=sendgrid.com&utm_medium=email
A Homebuilder Ready For A Correction
Home builder stocks as a group staged a massive rally since mid 2012, and one that at least for the near-term may be overextended. One stock in this group that from a technical perspective looks ripe for a correction to me is KB Home (KBH). In September 2012 the stock broke beyond a multi-year down-trend, […]
Newmont Mining (NEM) – All Signs Point Lower
While most stocks are nicely in the positive column for 2013, some of the gold mining names have faced stiff headwind as of late. And for all of the attention being paid to the price of gold itself, the charts of at least some of the larger gold miner stocks actually look much juicier for […]
Still No Rush To Buy Gold
On January 7th I discussed (here: http://investorplace.com/2013/01/gold-dont-rush-to-get-long/) that those looking at gold from the long-side may have some time left to initiate their position for the next more meaningful up-swing. In the meantime gold has staged a small relief rally but over the past few days has already begun to weaken again, which should be […]
Apple reached my price target; time to review the charts
Yesterday Apple Inc (AAPL) reached my price target; it’s now time to review the charts. On January 8th (here: http://investorplace.com/2013/01/aapl-next-stop-480/) I discussed how the stock’s chart was setting it up for a move to $480 in the near term. With yesterday’s sharp drop the stock not only hit but actually surpassed my profit target by […]
Honeywell (HON) Exhausted From Rally In The Near-Term
Last Friday both the Dow Jones Transportation index and the Russell 2000 index (among others) jumped to new highs. With broader markets in significantly overbought conditions, for a trader searching for high probability setups the long-side is simply too rich here. Thus I continue scanning the tape for quick short-side plays until such time the […]