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  • Finance 0

    Energy Led The Way, While The Recent Market Leader, Financials, Cooled Off Some

    My Swing Trading Approach I’m not opposed to adding more long positions to the portfolio, but I’m not going to force anything. Should the early morning weakness persist, I’ll stand aside.  Indicators VIX – VIX rose 5.4% yesterday, despite super bullish price behavior from the market.  T2108 (% of stocks trading below their 40-day moving average): The Dow was up 331 points yesterday, and the T2108 could only muster a 1% move higher? The bearish divergences remain.  Moving averages (SPX): Trading above all the moving averages.  Industries to Watch Today Energy led the way, while the recent market leader, financia...
    On December 1, 2017 / By
  • Finance 0

    Billion Dollar Unicorns: New Relic At A 52-Week High

    According to Gartner, the Application Performance Management market grew 13% to $2.93 billion in 2016. With enterprise businesses continuing to rapidly adopt cloud technologies, the APM market is expected to reach $5.6 billion by 2020. The market is led by Dynatrace with 14.2% share followed by IBM with 8% share and New Relic (NYSE: NEWR) with 6.3% share. Photo Credit: Danae Pollack/Flickr.com New Relic’s Financials New Relic’s second quarter revenues grew 33% to $84.7 million, ahead of the market’s forecast of $82.98 million. GAAP loss from operations was $(14.8) million or $(0.27) per share, compared to $(14.3) million or $(0.28) pe...
    On December 1, 2017 / By
  • Finance 0

    Crestmont Market Valuation Update – Friday, Dec. 1

    Quick take: Based on the November S&P 500 average of daily closes, the Crestmont P/E is 122% above its arithmetic mean and at the 99th percentile of this fourteen-plus-decade monthly metric.  The 2011 article P/E: Future On The Horizon by Advisor Perspectives contributor Ed Easterling provided an overview of Ed’s method for determining where the market is headed. His analysis was quite compelling. Accordingly, we include the Crestmont Research data to our monthly market valuation updates. See also his latest update: Understanding Secular Stock Market Cycles. The first chart is the Crestmont equivalent of the Cyclical P/E10 ra...
    On December 1, 2017 / By
  • Finance 0

    US Dollar Starts December On Shaky Footing

    Video Length: 00:07:35 The past 24-hours haven’t been kind to the US Dollar, setting up a shaky start to the final month of 2017. The influences are two-fold, given that the Federal Reserve has been removed as a near-term influence on price action: after all, Fed funds are pricing in a 100% chance of a 25-bps rate hike later this month (the FOMCmeets on December 13), as they have been since October 26. On the data side, recent US economic figures have proven choppy and inconsistent, resulting in the Atlanta Fed GDPNow Q4’17 US growth forecast being dropped from +3.4% to +2.7% yesterday. On the news side, tax reform hit a major hu...
    On December 1, 2017 / By
  • Finance 0

    Zumiez (ZUMZ) Matches Q3 Earnings Estimates, Shares Sink

    Zumiez Inc. (ZUMZ – Free Report) just released its third-quarter financial results, posting earnings of $0.48 per share and revenues of $245.8 million. Currently, Zumiez is a Zacks Rank #2 (Buy) and was down 7.11% to $22.25 per share in after-hours trading shortly after its earnings report was released. Matched earnings estimates. The company posted earnings of $0.48 per share, matching our earnings estimates of $0.48 per share. Beat revenue estimates. The company saw revenue figures of $245.8 million, topping our consensus estimate of $242.88 million. Zumiez third-quarter revenues popped 11% year-over-year. The chain’s comparable s...
    On December 1, 2017 / By
  • Finance 0

    Tech Bulls Biting Nails At This Price Point, Says Joe Friday

    First Fact….The Nasdaq tech train trend is up and has NOT derailed at this time, nor has it slowed down! Below looks at the Nasdaq Composite index over the past 20-years: As mentioned above, the trend in the Tech remains higher and it remains above long-term moving averages. This chart highlights a test of a 20-year rising channel. The Power of the Pattern took the lows in 1995, 2002 and 2009, which created support line (1). This support line was laid on top of the tech bubble highs in 2000, creating the top of the channel at (1). Joe Friday Just The Facts– Tech bulls would get concerning short-term news if selling starts taking place, at...
    On December 1, 2017 / By
  • Finance 0

    Futures Surge As Johnson, Daines Greenlight Tax Bill

    After a planned series of votes on the Trump tax plan were called off last night, GOP senators were scrambling to assuage the concerns of Republican holdouts who suddenly decided that the tax bill would blow out the deficit after one proposal – a so-called “trigger” that would automatically raise taxes if revenue targets aren’t met – was rejected by the Senate Parliamentarian. With the first roll-call vote set for 11 am, Republican leaders were scrambling to have amendments of their own lined up for later in the day, with a vote hoped for by late Friday or early Saturday. And while global stocks and US futures slid overnight on bill...
    On December 1, 2017 / By
  • Finance 0

    3 Global Markets That Could Indicate An Interim Correction

    Here are a few global ETFs with little room to drop in order to avoid daily chart technical breakdowns. That does not mean the end of the larger up trends, but could signal oncoming intermediate corrections if they do fall further and close the week that way (pre-market is red). The question would be, are they leading the fiscally drunk US market and its chronic tweeter in chief/stock pumper? The Euro hedged European iShares, like the Euro STOXX 50 which it mimics, is in a bear flag. The biggest volume days have been red as this flag has ground upward. Not a short-term bullish look for Europe. What it does have going for it is that the SMAs 5...
    On December 1, 2017 / By
  • Finance 0

    Is Marvin Goodfriend The Worst Fed Nominee Of All Time?

    Yesterday Donald Trump nominated Marvin Goodfriend to the Federal Reserve Board of Governors, one of the numerous vacancies that have emerged over the course of the past year. While his prior nominations of Jay Powell as Chairman and Randal Quarles as Vice Chair represented a disappointing commitment to the status quo, his selection of Goodfriend is a dangerous act of outright betrayal to Trump’s core constituency of working-class voters. The timing of the decision is ironic. After all, while Trump is busy lobbying Senate Republicans to support his desired tax cuts, he has decided to nominate a would-be central banker who wants to effecti...
    On December 1, 2017 / By
  • Finance 0

    Canadian Jobs Jump By 79.5K, GDP +0.2% M/M – USD/CAD Falls To Support

    A far better than expected jobs report in Canada: no less than 79.5K jobs were gained in November. The unemployment rate falls below 6% to 5.9%. All this, with the participation rate remaining high at 65.7%. The GDP report was upbeat as well: month over month, the economy grew by 0.2% and for Q3, the economy grew by 0.4% or annualized growth is 1.7%, this is +0.1% above predictions. All in all, truly great data. USDC/CAD falls below 1.28, challenging support at 1.2790. Further support awaits at 1.2670. Resistance is at 1.2890. Most of the jobs that were gained are part-time: 29.6K full-time and 49.9K part-time. Nevertheless, this is a huge ju...
    On December 1, 2017 / By