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View From The Hill: May 19, 2016
Market Condition Analysis The breakdown in equities across the board continues as almost all of the ETFs in our capital markets summary universe are trading below their 50-day moving averages and violating support at the 200-day moving averages as well. One of the few exceptions has been the Energy sector (XLE) and Commodity based US Oil Fund (USO). Bonds are not providing any solid returns either, but are adding value as portfolio stabilizers due to their low volatility. Speaking of volatility, not even the VIX (VXX) has been generous in this trading environment. No further comments as we sign off… (Please see our ETF asset class perf... -
Finance 0
E Market Briefing For Friday, May 20
The technical trajectory has supported our view for several weeks regarding probabilities of ‘front-selling’ in April; erosion in May; and likely not surviving this month without a notable decline in the S&P. Meanwhile the S&P ‘swoon’ really is a ‘catch-down’ with the behavior of the broader market, even the Dow Industrial Average, which is already below the referenced lows of recent weeks. This reluctant decline has been facilitated of course by events (including many clarifications by the Fed of the ‘probability’ of a rate hike); but preceded by many indications of distribution and hea... -
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It’s Important To Keep In Mind We May Never Know Why
At times like these when it seems as if the world has been so simplified, it is useful to remind yourself that it is dangerous to think it will remain that way. That is the path that leads to orthodox economics where ideology alone dictates that you know everything that is worth knowing. If there is one constant of the eurodollar system, it is the opposite – it doesn’t stand so still. That warning even applies just when you think you have everything “clocked.” What disturbs me most is that I don’t know what I don’t know. It starts with the realization that everything is hidden even when it seems on those rare occasions as if it ... -
Finance 0
Swing Trading Watch-List – May 19, 2016
Here’s your swing-trading watch-list: Long KAR Auction Services (KAR) Long LinkedIn (LNKD) Long Media General (MEG) Short 3M (MMM) Short Intel (INTC)... -
Finance 0
The Gap, Inc. Matches Q1 Earnings And Revenue Forecasts
The Gap, Inc. (GPS – Analyst Report) released its first quarter fiscal 2016 earnings results, posting earnings of 32 cents per share and revenue of $3.44 billion. Currently, GPS has a Zacks Rank #5 (Strong Sell), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below. The Gap, Inc: 1. Matched earnings estimates. The company posted earnings of 32 cents per share, matching our Zacks Consensus Estimate of $0.32. 2. Matched revenue estimates. The company saw revenue figures of $3.44 bi... -
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Crude Oil Price Trend Forecast 2016 Implications For Stock Market
At the start of the year the prevailing mood in the oil market was not just one of gloom and doom but of catastrophe as the oil price sunk below $30, skidding by the middle of February to virtually touch $25, a period during which many prominent analysts and investment banks such as Goldman Sachs all of whom were bearish on the prospects for oil prices this year some even suggesting that the oil price could sink to as low as $10 (Standard Chartered) which meant that the oil producers large and small, the frackers and even a string of nations such as Russia, Nigeria and Venezuela were on the fast track towards going bust as their oil profits t... -
Finance 0
DryShips Sinks After Reporting Q1 Earnings, Debt Restructuring Discussions
Shares of drybulk carrier DryShips (DRYS) are falling after the company disclosed along with its first quarter results that it will suspend principal and interest payments on certain of its bank facilities. WHAT’S NEW: DryShips reported a Q1 loss per share of (78c) on revenue of $11.9M, which is drastically down from the $492.1M the company reported for Q1 of 2015. WHAT’S NOTABLE: Along with its Q1 earnings release, the company said it is presently engaged in discussions with its lenders for the restructuring of its debt facilities. Three of these bank facilities have matured and the company has not made the final balloon installm... -
Finance 0
Gold Daily And Silver Weekly Charts – No Substance
There were no noteworthy deliveries of gold or silver on the Comex yesterday. That is one thing that it has in common with the Fed’s economic policy, and the two leading presidential candidates come to think of it: a lack of substance. There will be a stock option expiration tomorrow and a June gold option expiration on the Comex next week. Have a pleasant evening.... -
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Bulls And Bears Battle
It’s unclear who will win this battle ultimately. The action may just prove a skirmish but I believe this 7-year bull market is over. Its clear bulls won’t give up the ghost without a fight and we’ve seen this since the summer of 2015. Recently U.S. markets have declined with building momentum only to see temporary light volume short squeezes save the markets from a major turnover. But the turnover has been prominent for all to see. This week for example markets started off with a light volume bullish roar Monday only to see a quick heavier volume reversal once again. The Fed Minutes Wednesday revealed a hawkish Fed ready to raise inter... -
Finance 0
Insperity – Chart Of The Day
The Chart of the Day belongs to Insperity (NYSE: NSP). I found the personnel staffing stock by using Barchart to sort today’s All Time High list first for the most frequent number of new highs in the last month, then again for technical buy signal of 80% or better, Next I use the Flipchart feature to review the charts for consistency. Since the Trend Spotter signaled a buy on 2/16 the stock gained 47.15%. Insperity, Inc., formerly known as Administaff, Inc., is engaged in providing an array of human resources and business solutions. Services offered by the Company includes Workforce Optimization in the marketplace, MidMarket Solu...
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