Down goes the Dollar! That’s significant because it’s Options Expiration Day today AND we’re settling the December Oil Futures Contracts (/CLZ6) so the well-timed 0.5% drop in the Dollar (which we predicted – thank you!) is boosting oil, gold, the indexes – well everything priced in Dollars – you get the idea. This is how they take advantage of TA people because TA doesn’t take into account the value of the underlying currency of the thing they are charting. To illustrate how silly that is, suppose you were charting the freezing temperature of a water and they kept changing the type of liquid but yo...
People may get tired of me calling everything hype this and hysteria that. Hell, I get tired of me doing that. But as a market manager I have got to use my B/S Detector as a primary tool because the markets move on emotion in the short-term, before whatever fundamentals are to emerge finally do so. So it follows that Apple (AAPL) would ask its China-based contract manufacturers to “start studying the possibility of moving iPhone production to the U.S.”. Apple Supplier Foxconn Said to Evaluate Moving iPhone Production to U.S. “Terry Gou, CEO of Foxconn, was said to be critical of moving the manufacturing operations for the iPhone. ...
“Want to hammock on Sunday?” asked M. M is a friend I made at my indoor rock-climbing gym who regularly sends me Snapchats. He enjoys heading outdoors, hiking and climbing every chance he gets. And he hammocks … which means he takes time out to find two trees in a park or some other outdoor setting and strings up his hammock, where he just spends time in it. He’s careful about what he eats, is of mixed ethnicity and carries his phone with him everywhere he goes. M isn’t alone in Snapchatting or hammocking or healthy eating or being of multiethnic descent. He actually represents a 92-million-strong generation. And this generation is ...
Anxiety is a thin stream of fear trickling through the mind. If encouraged, it cuts a channel into which all other thoughts are drained. – Arthur Somers Roche 2015 was a terrible year for oil and it looked like 2106 would even worse; oil dipped below $30.00 and all cockroaches (oops we mean analysts) started to state $10.00 oil was next. When we heard this nonsense, we penned an article titled will the crude oil price crash become even worse in 2016? What you need to remember is that the oil market tanked suddenly, and this occurred while the Top Analysts were making calls for higher prices. Hence, just as the oil market collapsed whe...
Do you know what was one of the best things to do on the 4th of July this year, in the financial markets? If you owned government bonds, it was a great time to sell them. If you were open to it, it was an even better time to short bonds. The chart below looks at TLT over the past 15-years and applies a 16-week performance table to the chart- Over the past 16-weeks, TLT has declined nearly 14% at (1), this decline gave back some really sweet gains TLT had made the first half of the year. TLT does still remain inside of 13-year rising channel (2), despite the large decline over the past few months. Joe Friday Just The Facts; If support breaks...
OVERNIGHT MARKETS AND NEWS Dec E-mini S&Ps (ESZ16 +0.05%) are down -0.13% and European stocks are down -0.72%. A +0.07% increase in the dollar index (DXY00 +0.10%) to a new 13-1/2 year high has undercut commodity prices and is leading commodity and raw-material producing stocks lower. The likelihood of a Fed rate hike next month has also increased and is deepening a sell-off in government bond markets as the U.S. 10-year T-note yield climbed to a 10-1/2 month high of 2.33% after St. Louis Fed President Bullard said he is “leaning towards” supporting a rate increase at next month’s FOMC meeting. Asian stocks settled mixe...
Founded in 1978 and headquartered in Orange County, CA, BJ’s Restaurants (BJRI –Free Report) owns and operates a chain of 186 high-end casual dining restaurants in 24 states. Their signature menu items include deep dish pizza, craft beer and “pizookie” dessert. They call their positioning “contemporary, high-quality, casual plus”. Results Disappoint The company reported lackluster Q3 results, missing both on the top and bottom lines. Adjusted earnings of $0.30 per share fell short of the Zacks Consensus Estimate of $0.32 by 6.3%. Revenues increased 1.9% year over year to $233.7 million but were below the Zacks Consensus Est...
Applied Materials Inc. (AMAT – Free Report) reported modest fourth-quarter fiscal 2016 results, wherein the top- and the bottom line came ahead of the Zacks Consensus Estimate. The company’s pro-forma earnings per share (EPS) of 66 cents in the fourth quarter beat the Zacks Consensus Estimate by a penny and came in at the higher end of the guided range. This quarter Applied Materials’ revenues, orders and earnings were at an all-time high. The company’s leadership and advanced packaging business stayed strong in this quarter. The company continues to see technological advancements in semiconductor and display areas. The ramp up of...