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  • It's Time To Be Anti-SOCL

    This morning, the leading social networking stocks are coming under some heavy distribution. The catalyst for today's decline in the social networking stocks comes after the poor market reaction to the Facebook Inc (NASDAQ:FB) earnings that were released last night. In sympathy to the decline in Facebook Inc stock you will also see weakness in Twitter Inc (NYSE:TWTR), and LinkedIn Corp (NYSE:LNKD).

    A way that traders can play the social networking sector is by using the Global X Media Index ETF Funds (NYSEARCA:SOCL). According to the weekly chart of SOCL it appears that the leading social networking stocks are likely to trade lower in the near term. It seems that the SOCL will have chart support around the $16.50 area. This was the level where the SOCL was defended by the institutional money back in May 2014. Often, old pivot areas will serve as solid support when retested. Either way, traders should expect a further pullback in the near term in the social networking stocks.

    Nick Santiago

    Tags: SOCL, FB, TWTR
    Oct 29 11:28 AM | Link | Comment!
  • Chimerix Inc An Ebola Buy

    In the last few weeks there has been quite a lot of movement in shares of Chimerix Inc (NASDAQ:CMRX). This company reportedly had a drug that would help fight the nasty Ebola virus. Once the market caught wind of this, Chimerix Inc (NASDAQ:CMRX) shot up nearly 50% in a few trading sessions. Since making a high of $36.75 the share price has dropped about 20% as the Ebola fears subsided and traders/investors took profits. So where is the stock of Chimerix Inc (NASDAQ:CMRX) headed? I have isolated two very good support levels at $25.75 and $22.75. These price targets should provide a substantial amount of support as these were the breakout levels and there are also some proprietary calculations which point to these numbers. My advice to those who wish to buy this company is to initiate a position at the first price level and then add at the lower level if it continues to sell off. This is a very volatile stock, so keep your position small and look to be rewarded in a big way.

    (click to enlarge)

    Parm Mann

    Tags: CMRX
    Oct 21 2:55 PM | Link | Comment!
  • Tick Tock, Which Hedge Fund Will Blow?

    The Hedge Fund Industry has benefited greatly from the 5 year bull run off the March 2009 lows. As the saying goes, "A rising tide lifts all boats." Hedge funds can leverage their capital 10, 20 even 30 times, and this leverage can create large returns when the times are good. This is what happened in 2006 and 2007, when every institution was clambering to buy Mortgage Backed Securities, Housing Stocks and Bank stocks. We all know what happened when Bear Stearns and Lehman Brothers collapsed, causing the Great Recession. Well, history is repeating itself once again as big institutions are heavily leveraged with the Yen carry trade; where they are short the Japanese Yen and long US stocks and futures contracts. Over the past month we have seen the volatility kick in as this trade begins to unwind. If everyone runs for the exit door at the same time, then you get intense selling pressure. Over the next few weeks I wouldn't be surprised to hear of an institution going bust from being long the market at the highs and now being forced to liquidate its positions. As Nick Santiago often quotes Mark Twain, these words apply quite well today, "history doesn't repeat itself, but it does rhyme." The one thing we do know is there will always be a trade on one side of the market or the other, our only job is to read the charts correctly and enter trades at the highest probability of times!

    Evan Poechman

    (click to enlarge)

    Tags: SPY
    Oct 20 12:48 PM | Link | Comment!
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