Bulls have been unable to get much done, and almost all major indices have now broken through key uptrend lines from Oct. 2011 lows. While it's still early to peg this as a major trend change, prices are likely to meander lower in the short term. [View news story]
Good synopsis of what is going on here. Agree with the levels, although undercut lows are in style- this means 1340 can be breached in a seemingly convincing way, and trap bears as it lurches upward again. Most individual stock charts I follow are broken, as are the patterns of the financials (PPT). Thus favoring the downside. I would think the response to another Chinese easing on Monday would be telling, as they probably buy futures ahead of this action. Would be really nice to see them trapped in them...we will see.
Major precious metals producers are evolving into value plays attractive to yield-seeking investors, many for the first time, Dahlman Rose writes. Average dividend yield for the eight dividend payers the firm covers is 1.8%, but the group has capacity to increase average yield to 4%-plus by 2014. It sees ABX with the most yield capacity; it also likes NEM, AEM, PAAS. [View news story]
FYI: They are a value trap if gold craters. Not saying that will happen though.
With Priceline (PCLN -4.4%) reporting mixed Q1 results, analysts think there's still room to negotiate a higher stock price. BofA sees "potential for 50%+ ex-FX bookings growth in 2Q... and bookings upside in 3Q (vs. our 37% ex-FX est.) on easier [Y/Y] comps." Morgan Stanley says the outlook for international bookings should alleviate some of the worries about Europe. [View news story]
So you won last night's Mega Millions lottery, right? (winning numbers here) Or more likely you received an inheritance, earned a fat bonus, or cashed in stock options. A few of James Altucher's tips on how to turn sudden wealth into permanent wealth: don't change your lifestyle for at least a year, don't put more than 2% of the money in any one thing, focus on your health first. [View news story]
First reasonable thing I have heard from this dimwit.
GDP growth has been moderate, but the private sector is growing almost 5% a year, says economist Austan Goolsbee. It may seem ironic that these numbers are still showing growth being high, Goolsbee says, but the real reason the overall numbers don't show the economy growing much is actually because of the shrinkage of government. (video) [View news story]
State government has been cutting with reckless abandon. Many celebrate this process. Those who say that private business will pick up the slack in time though so as to further reduce unemployment in the near term, are wrong.
"It seems clear to us the government doesn't want the stock market to fall any further," writes Global Macro Monitor. After falling 31% from last April's high, Shanghai has bounced 8.7% in 2 weeks amidst regulators' moves (i, ii) to direct more money into Chinese shares. One popular ETF: FXI +10.9% YTD. Reminder: Markets are closed this week for the New Year holiday. [View news story]
So true. And the super-bulls are using Shanghai index as a signal for our market. Market up 5 %, our will do the same.
The S&P 500 finished the day with its highest close since last October, moving out of a trading range it's been trapped in for months. According to a number of technical analysts, another sharp move to the upside from here could spark a breakout if it holds, and the rally could be a big one. [View news story]
I provided the reference for the term, "undercut low" (Jeff Saut, Raymond James). I recommended / coined a new term- I think , the similar but opposite, "overcut high". Higher high above a pre-destined important technical # on the index (i.e. SPY). As these numbers breached to the downside were a spur to a break-up. Could be the same in reverse- the, "overcut high".
The S&P 500 finished the day with its highest close since last October, moving out of a trading range it's been trapped in for months. According to a number of technical analysts, another sharp move to the upside from here could spark a breakout if it holds, and the rally could be a big one. [View news story]
Much as we just had two "undercut lows (se Jeff Saut- Raymond James)" based on technical milestones in the recent past, I think we are due for a major "overcut high", such as this would represent. Maximum pain....
Microsoft (MSFT) -1.4% AH after Bloomberg reports the company says PC sales probably were worse than expected in Q4 due to the floods in Thailand. [View news story]
All of this unfettered bullishness should be addressed tomorrow and the next few days, as the market provides some better buying opportunities.
We're seeing some very interesting changes in U.S. market reactions to events in Europe, observes Jack Bouroudjian. Banks not only rebounded today "in the wake" of the bad news in Europe, but equities in general also moved up in the face of a weaker euro for the first time in months. Bouroudjian says to keep an eye on this decoupling, because it will be "a real good tell" for the course of the markets over the next few weeks. (video) [View news story]
This is problematic for the realists/ skeptics. Guess you can't do much on the short side for now without risking huge losses. Setup is for big, big pain.
Down Down Down [View article]
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Bulls have been unable to get much done, and almost all major indices have now broken through key uptrend lines from Oct. 2011 lows. While it's still early to peg this as a major trend change, prices are likely to meander lower in the short term. [View news story]
Major precious metals producers are evolving into value plays attractive to yield-seeking investors, many for the first time, Dahlman Rose writes. Average dividend yield for the eight dividend payers the firm covers is 1.8%, but the group has capacity to increase average yield to 4%-plus by 2014. It sees ABX with the most yield capacity; it also likes NEM, AEM, PAAS. [View news story]
With Priceline (PCLN -4.4%) reporting mixed Q1 results, analysts think there's still room to negotiate a higher stock price. BofA sees "potential for 50%+ ex-FX bookings growth in 2Q... and bookings upside in 3Q (vs. our 37% ex-FX est.) on easier [Y/Y] comps." Morgan Stanley says the outlook for international bookings should alleviate some of the worries about Europe. [View news story]
It's Tough To Be A Google Shareholder [View article]
So you won last night's Mega Millions lottery, right? (winning numbers here) Or more likely you received an inheritance, earned a fat bonus, or cashed in stock options. A few of James Altucher's tips on how to turn sudden wealth into permanent wealth: don't change your lifestyle for at least a year, don't put more than 2% of the money in any one thing, focus on your health first. [View news story]
GDP growth has been moderate, but the private sector is growing almost 5% a year, says economist Austan Goolsbee. It may seem ironic that these numbers are still showing growth being high, Goolsbee says, but the real reason the overall numbers don't show the economy growing much is actually because of the shrinkage of government. (video) [View news story]
"It seems clear to us the government doesn't want the stock market to fall any further," writes Global Macro Monitor. After falling 31% from last April's high, Shanghai has bounced 8.7% in 2 weeks amidst regulators' moves (i, ii) to direct more money into Chinese shares. One popular ETF: FXI +10.9% YTD. Reminder: Markets are closed this week for the New Year holiday. [View news story]
After Hours: Going Short Microsoft, Google And Intuitive Surgical [View article]
The S&P 500 finished the day with its highest close since last October, moving out of a trading range it's been trapped in for months. According to a number of technical analysts, another sharp move to the upside from here could spark a breakout if it holds, and the rally could be a big one. [View news story]
Q4 Earnings Preview For Goldman Sachs [View article]
The S&P 500 finished the day with its highest close since last October, moving out of a trading range it's been trapped in for months. According to a number of technical analysts, another sharp move to the upside from here could spark a breakout if it holds, and the rally could be a big one. [View news story]
Microsoft (MSFT) -1.4% AH after Bloomberg reports the company says PC sales probably were worse than expected in Q4 due to the floods in Thailand. [View news story]
We're seeing some very interesting changes in U.S. market reactions to events in Europe, observes Jack Bouroudjian. Banks not only rebounded today "in the wake" of the bad news in Europe, but equities in general also moved up in the face of a weaker euro for the first time in months. Bouroudjian says to keep an eye on this decoupling, because it will be "a real good tell" for the course of the markets over the next few weeks. (video) [View news story]