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Biotech Bear Market Update: Barely Bouncing Off The Bottom
Have we reached a tradeable bottom in the biotech bear market? Today’s tape showed good volume but gains faded late in session. Nasdaq up 0.35% XLV up 0.88%-healthcare is the leading sector The biotech market bounced back early today in a broad rally then faded with the IBB up 0.625 % stuck in 250-260 range and the XBI up 0.5%. Large caps were mainly green across the board: Celgene (CELG) up 2.65%, Alexion (ALXN) up 1.73% and Amgen (AMGN) up 1.15% among the leaders. Mid caps were choppy: Alkermes (ALKS) up 2.65%, Incyte (INCY) flat and Vertex (VRTX) up 1.98%; smaller cap winners were : Medivation (MDVN) up 4.4%, Kite Pharma (KITE) up ... -
Finance 0
Fundamental About Oil
The front month WTI futures contract traded as low as $27.27 this morning, a few dimes less than the low of January 20. Just three months out, however, the June 2016 contract is trading at $33.17 and up $0.43 on the day (as of this writing). Just two months further to August, that futures price is $35.11, up $0.53 on the day. That’s about $8 contango just in the five months. This sharp “hook” downward in the oil curve is the signal of liquidation, and unorderly at that. Trading earlier this week certainly reflected that up and down asset markets, as liquidity strains were evident in widespread fashion. The effect in oil has been devasta... -
Finance 0
The Good And The Bad On An 18% Yield
When the economy was melting down in 2008, I was doing my part to keep things going. You see, I was one of the “suckers” who were actually paying their mortgages every month. So whoever bought a derivative that included my mortgage – you’re welcome. Apart from the occasional financial collapse, investing in mortgages can be lucrative and investing in companies that invest in mortgages can be as well. Shareholders of New Residential Investment Corp. (NYSE: NRZ) are currently enjoying a more than 18% yield as the stock trades for around $10 and pays $1.84 in dividends on an annual basis. That’s a sky-high yield. But can New Resident... -
Finance 0
Zynga Beat 2015 Q4 Earnings Estimates
Zynga Inc. (ZNGA – Snapshot Report) released their fourth quarter fiscal 2015 earnings results, posting earnings of $-0.02 and revenue of $182.1 million. Currently, ZNGA has a Zacks Rank #3 (Hold), 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. Zynga: Beat earnings estimates. The company posted $-0.02 per share, beating our Zacks Consensus Estimate of $-0.04. The company’s EPS figure excludes $0.03 from non-recurring items. Beat revenue estimates. The company saw revenue figures of $182.1 million, beating our estimate... -
Finance 0
EURUSD: Faces Further Bullish Offensive Short Term
EURUSD: Having taken back all of its intra day losses to close flat on Wednesday and following through higher during Thursday trading session , EURUSD faces further bullish offensive short term. Support lies at the 1.1250 level. Further down, support lies at the 1.1200 level where a violation will aim at the 1.1150 level. A break of here will aim at the 1.1100 level. Its daily RSI is bullish and pointing higher suggesting further strength. Conversely, on the upside, resistance comes in at 1.1350 level with a cut through here opening the door for more upside towards the 1.1400 level. Further up, resistance lies at the 1.1450 level where a br... -
Finance 0
Bears Win Day – Just…
There wasn’t a whole lot of change by the close of business, but intraday strength was clawed back in worrisome fashion. The end result was to leave spike highs in markets. The S&P finished with a MACD ‘sell’ trigger, but on lower volume. The ‘sell’ trigger was below the bullish zero line, which makes it a strong signal. The Nasdaq closed with a ‘black’ candlestick, which would be more bearish if it occurred at a swing high, but it’s still a warning. Technicals are all in the bear camp. The Russell 2000 also closed with a spike high and a MACD trigger ‘sell’. The index had att... -
Finance 0
Rising Systemic Risk For All Markets
We are on the precipice of what can only be described as a rising systemic risk for all markets. The Fed is now hinting that banks should prepare for negative interest rates. This insanity of following the crowd is undermining the entire world economy. The increasingly unstable footing that we find ourselves standing on is reflected in widening credit spreads that demonstrate that confidence is indeed collapsing. The EU Commission will no longer classify government bonds in bank balance sheets as “risk.” Banks would have government bonds on par with “equity” yet government bonds have proven risky and are inferior to what would, in ... -
Finance 0
Whole Foods Market Beats Q1 Earnings And Revenue Estimates
Whole Foods Market (WFM – Analyst Report) released their first quarter fiscal 2016 earnings results, posting earnings of $0.46 and revenue of $4.83 billion. Currently, WFM has a Zacks Rank #3 (Hold), 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. Whole Foods: 1. Beat earnings estimates. The company posted $0.46 per share, surpassing our Zacks Consensus Estimate of 0.40. 2. Beat revenue estimates. The company saw revenue figures of $4.83 billion, just... -
Finance 0
The Federal Reserve – The Deep State’s Central Bank
Where are we now? Dow down 296 points yesterday – or just under 2%. Cruz and Clinton win the Iowa caucuses. Oil is back below $30. An election has been described as two wolves and one lamb voting on what to have for dinner. Actually, there was never any doubt about what was on the menu. An election is really when the wolves scrap over who gets the choicest pieces. To bring new readers fully into the picture… It doesn’t matter who won in Iowa. Major policies are not determined by the voters but by the more or less permanent elite who run the government, aka the “Deep State.” Fighting to Lose The Fed is an instrument of the Deep State... -
Finance 0
Unitil – Chart Of The Day
The Chart of the Day belongs to Unitil (NYSE:UTL). I found the utility holding stock by using Barchart to sort the All Time High list first for the highest technical buy signals, then I used the Flipchart feature to review the charts. Since the Trend Spotter signaled a buy on 12/23 the sock gained 10.64% Unitil Corporation is a registered public utility holding company and the parent company of the Unitil System. The status of Barchart’s Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the marke...
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