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Market Talk – Wednesday, July 5
Refreshingly, the markets tended to ignore geopolitical tensions escalating around North Korea after the recent missile test. All core markets returned positive today with China performing for both markets. The Shanghai recovered early weakness and closed up 0.75% on the day, whilst in Hong Kong the large cap’s weighed much on the shine but still managed a +0 5% firmer close. There was a similar pattern to the Nikkei where morning weakness was reversed and we managed a +0.25% positive close. The JPY lost all of yesterdays safe-haven bid and it was back to long yen liquidations again. These are typical of summer trading conditions where one ... -
Finance 0
Shorting The Tech Bounce
Today the tech sector bounced while oil and energy fell out of favor. In tonight’s video we look at how to short the tech bounce. Watch this video to find out the specific stocks we are looking to short and how you can take advantage of the tech volatility… Video Length – 00:10:52... -
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Stocks Watchlist: BABA, IR, FEYE
Today’s stock picks Long Alibaba (BABA) Long Ingersoll-Rand (IR) Short FireEye (FEYE)... -
Finance 0
Transports Require Precise Steering
Fastest car in its day, the 1955 Mercedes Benz 300 SL Gullwing Coupe took advantage of the booming post-war American market. Incredibly gorgeous to look at, the unique upward opening doors made entry and exit from its cockpit problematic. The Transportation chart (IYT) looks to take advantage of the booming post-Trump American stock market. As of Monday, IYT’s price moved above the monthly chart’s channel line resistance. That makes Monday’s low price 172.85 important. Not only could it serve as the July Calendar Range low, but also the official “breakout” number to watch hold for further gains. A chart gorgeous to look at, yes. Non... -
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Political Jujitsu: Now’s The Time For Medicare For All
Video Length – 00:02:26 As Republicans in Congress move to repeal the Affordable Care Act, Democrats are moving toward Medicare for All – a single-payer plan that builds on Medicare and would cover everyone at far lower cost. Most House Democrats are already supporting a Medicare for All bill. With health care emerging as the public’s top concern, according to recent polls, the choice between repeal of the Affordable Care Act and Medicare for All is likely to be the major domestic issue in the presidential campaign of 2020 (other than getting Trump out of office, if he lasts that long). And the better choice is clear. Private fo... -
Finance 0
Opposites Attract
On a day where losses were recovered and gains lost it was more of the same for indices. The index I’m watching most for leads is the Russell 2000. The Russell 2000 has languished for many months but is showing signs of strength in what could turn out to be a very good second half of the year for the index. Today saw losses which dropped the index back to rising support (a fresh buying opportunity?) but relative performance lost a little ground. Further losses would keep the index stuck inside its range and therefore be less attractive for buyers. The Nasdaq recovered a little ground but the breakdown is established and will take time t... -
Finance 0
Dollar Struggles For Traction – Wednesday, July 5
The safe haven Japanese Yen fell versus the US Dollar, but the greenback failed to make any headway against the common currency Euro as FX traders await minutes from the Federal Reserve Bank which will be released later today, and Friday’s release of non-farms payroll data. Traders are looking for confirmation that the Fed intends to dismiss the current soft inflation data as transitory. While less significant than the upcoming report, today’s release of ADP private sector labor data tends to mirror the government’s report; currently, analysts are expecting ADP to report that June’s new jobs fell to 185,000 from 253,000 in May. The fo... -
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Think The Fed Will Have Your Back Forever? Think Again
I have a confession to make: I love confessions. I spent countless hours in the late 1990s listening to sports radio dissect Mark McGuire’s acknowledgement of steroid use. And who did not get chills reading Perry Smith’s account of the Clutter family murders in Capote’s In Cold Blood? However, the admission of transgression that captivated me the most over the last decade did not receive the kind of attention it likely deserved. Richard Fisher corroborated (January, 2016) that the Federal Reserve front-loaded a tremendous asset rally starting in 2009. The former President of the Federal Reserve Bank of Dallas candidly explained that... -
Finance 0
A Bounce In GDX Is Possible In The Coming Days
SPX Monitoring purposes; Short SPX 6/26/17 at 2439.07. Monitoring purposes Gold: Long GDX on 6/22/17 at 22.36 Long Term Trend monitor purposes: Neutral. A possible “Three Drives to Top” that started back in March is still on the table. This pattern has a downside target to where the pattern began which is near the 230 level (2300 on the SPX) on the SPY. Volume has been picking up on the down days showing energy is to the downside. Monday July 3 the Equity Put/Call (CPCE) closed at .55. Readings .55 and less predict the market will be lower 88% of the time in the next 3 to 5 days with an average loss of .8%. Topping formation is still in p...
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