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Metal And Mining Stocks Are In Play
The leading base metal and mining stocks all started the day declining at the open. This is common to see when the U.S. Dollar Index is strong before the opening bell. Leading stocks such as Freeport McMoRan Copper & Gold Inc (NYSE:FCX), BHP Billiton Ltd (NYSE:BHP), Southern Copper Corp (NYSE:SCCO), and Vale SA (NYSE:VALE) will usually trade inverse to the U.S. Dollar. These stocks have rebounded off of their morning lows as soon as the U.S. Dollar Index declined. Nearly everyday that the U.S. Dollar Index starts strong it will fade or sell off once the opening bell rings at the New York Stock Exchange. ...Continue reading here: http://bit.ly/yT3Iyj
The Chart That Dominates The World
There is simply no chart in the world that is more important than the U.S. Dollar Index. The U.S. Dollar Indexmeasures the performance of the U.S. Dollar against a basket of six leading currencies including the Euro(58.6%), Japanese Yen (12.6%), Pound Sterling (11.9%), Canadian Dollar (9.1%), Swedish Krona (4.2%), and the Swiss Franc (3.6%). Traders can follow CurrencyShares Canadian Dollar Trust (NYSEARCA:FXC), CurrencyShares Japanese Yen Trust (NYSEARCA:FXY), and the CurrencyShares British Pound Sterling Trust (NYSEARCA:FXB) and see how they react wit the U.S. Dollar. ...Continue reading here: http://bit.ly/z0tInK
Oil Service Stocks Pause Despite Geopolitical Events
Almost everyone that trades energy or the oil service stocks is talking about the Iranian situation in the Middle East. The tensions in the region seem to be building on a daily basis. This event is certainly keeping a bid in the oil and energy markets. Normally, these geopolitical events will keep a bid under the oil service stocks, however, at some point that will change. That is why it is best to use charts and not rely on the news when trading. ...Continue reading here: http://bit.ly/z2IUMS
How High Can The Euro Dollar Go?
The EUR/USD (Euro Dollar) bottomed on January 13, 2012 at 1.262 from a severely oversold technical condition. Since that time, the EUR/USD has surged sharply higher and is now trading into the 1.329 level. This type of robust rebound is very common after such a steep downdraft. In fact, the EUR/USD still could have some more upside left in the tank before another major pullback takes place. ...Continue reading here: http://bit.ly/xRn7e1
Financials Could Signal There Is A Chink In The Armour
The financial stocks have now lead the major stock indexes higher since late November 2011. Traders and investors that have followed the financial sector very closely know that every crisis over the past five years has been a banking crisis. Even today, the problems in the European Union are simply just more banking problems. This afternoon, the financial stocks are all trading slightly lower on the day. The popular and highly traded Financial Select Sector SPDR Fund (NYSEARCA:XLF) is trading lower by 0.17 cents to $14.60 a share. This is the first time in 2012 that the financial stocks are showing some signs of weakness. The action today is nothing to be alarmed about yet, however, it is worth noting. ...Continue reading here: http://bit.ly/zJnY74
Key Upside Silver Level To Short
The iShares Silver Trust (ETF) (NYSEARCA:SLV) has had a great run in 2012. Many traders are wondering when it will start to collapse back down. The key is to look at the chart. By looking at the chart you can discover key entries and exits on longs and shorts that will make you millions. ..Continue reading here: http://bit.ly/AqHrIa
Cracks In The Market Emerge, Downside Imminent
The markets are seeing red today with the SPDR S&P 500 ETF (NYSEARCA:SPY) trading at $135.86, -0.60 (-0.44%). After Greece received its second bailout over the holiday weekend, the markets have started to show major cracks. Interestingly enough, this is happening just as the retail investor is jumping back into the market. This is setting up for a sell off and pivot top of 2012. Yes, you heard it first here, we are close, if not at the highs of 2012. ...Continue reading here: http://bit.ly/zSwJdf
Airline Stocks Descend As Oil Soars
All of the major airline stocks have been coming under some heavy selling pressure since early February 2012. The catalyst for the decline in the airlines sector has been the sharp increase in oil. Crude has been soaring higher by more than $100.00 a barrel since early February and this happens to coincide with the decline in the airline stocks. Yesterday, spot crude closed at over $106.00 a barrel, and this is a problematic number for the airline industry. All of the leading airline stocks still look to have further weakness ahead. ...Continue reading here: http://bit.ly/wrusaY
Gold Miners Are Stuck In A Ditch
This morning, all of the leading gold mining stocks seem to be under some slight selling pressure. The Market Vectors Gold Miners ETF (NYSEARCA:GDX) is trading lower this morning by 0.34 cents to $55.48 a share. The daily chart for the GDX remains very range bound at this time. The GDX has made a series of lower highs since November 2011 and this is a sign of weakness. The high end of the trading range would be around the $58.00 area, the low end of the range is around the $50.00 level. Short term traders should watch for intra-day support around the $55.00, and $54.00 levels. ...Continue reading here: http://bit.ly/xlabJG
Gold Rush
This morning, the precious metals are trading sharply higher. The catalyst for the advance in gold, and silver is the weaker U.S. Dollar Index, and the pledge by central banks to keep easy money available. Last night, the People Bank of China (Chinese central bank) cut reserve requirements for lenders. This is just another example of easy credit. All of these similar actions by the central banks around the world are inflationary and that is exactly what gold and most other precious metals are saying to us today. ...Continue reading here: http://bit.ly/wSjBEC
Gasoline On Fire
This morning, the United States Gasoline Fund (NYSEARCA:UGA) is trading higher by 0.45 cents to $55.50 a share. This tells us that gasoline prices at the pump are going to be higher if you have not noticed already. The average price for a gallon of regular gasoline in the United States is $3.57 according to AAA. High gasoline prices are a direct tax on the U.S. consumer. It is always important to remember that consumer spending accounts for roughly 70.0 percent of the gross domestic product in the United States. Short term traders should watch for intra-day resistance on the UGA around the $56.00 level. ...Continue reading here: http://bit.ly/yYehsP
Gold And Silver Stuck In A Holding Pattern
The SPDR Gold Shares (NYSEARCA:GLD) and the iShares Silver Trust (NYSEARCA:SLV) are both trading slightly lower this morning. These two precious metals will usually trade inverse to the U.S. Dollar, therefore, traders should follow the dollar closely. Short term traders can watch for intra-day support on the GLD around the $167.00, and $166.00 levels. The SLV will have intra-day support around the $32.25, and $31.80 levels.
Chinese Internet Stocks Are The Weak Link Today
This morning, all of the leading Chinese internet stocks are declining lower. Baidu Inc (NASDAQ:BIDU) is considered the leading Chinese ADR in the market. Today, BIDU stock is trading lower by $2.83 a share. Short term traders should watch for intra-day support around the $137.00, and $135.00 levels. The daily chart is holding up fine for BIDU at the moment. ...Continue reading here: http://bit.ly/xs8pep
Markets Advance As Options Ex Whips Continue
This has been a classic options expiration week. Options expiration is known for whipping up and down, taking money from call and put holders. After weeks of a market that just floated higher, this week saw major up and down moves. Even the epic stock Apple Inc. (NASDAQ:AAPL) has seen a massive rise and fall this week. ...Continue reading here: http://bit.ly/zgeSiq
Semiconductors Keep Nasdaq In the Green
This morning, the big three leading technology stocks are all trading lower. They are Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN), and Google Inc (NASDAQ:GOOG). These three stocks will usually dominate the action in the NASDAQ Composite and the NASDAQ 100 Index, however, today it is the semiconductor stocks that are keeping the tech heavy index in the green. The Market Vectors Semiconductor ETF (NYSEARCA:SMH) is trading higher by 0.30 cents to $34.79 a share. Short term traders can watch for intra-day resistance on the SMH around the $34.85, and $35.05 levels. The daily chart for the SMH continues to hold up well. ...Continue reading here: http://bit.ly/AD6YlL
Retail Stocks Hold Steady So Far
This morning, the retail sector is showing some strength. The popular Market Vectors Retail ETF (NYSEARCA:RTH) is trading higher by 0.06 cents to $39.50 a share. Traders can watch for intra-day resistance around the $39.58, and $39.70 levels. The daily chart remains strong and in an uptrend at this time. When the retail stocks hold up and trade higher this is a sign of consumer spending. It is important to note that consumer spending accounts for roughly 70.0 percent of the gross domestic product (GDP) in the United States. ...Continue reading here: http://bit.ly/wSnCgs
Transports Tank With Apple
This afternoon, the sell off in Apple Inc (NASDAQ:AAPL) is dominating the headlines. This is the steepest decline on the major stock market indexes that we have seen since in 2012. One industry group that is dropping sharply lower is the transportation stocks. The iShares Dow Jones Transportation Index ETF is trading lower by $2.13 to $92.12 a share. This is the biggest decline on the transport index since December 19, 2012. The IYT will have intra-day support around the $92.00, and $91.40 levels. ...Continue reading here: http://bit.ly/wcjXrW
Tata Motors At Major Resistance Plus Topping Tail
Tata Motors Limited (NYSE:TTM) has had an epic move higher since the new year. On the last trading day of 2011, Tata Motors closed at $16.90. The high of today was $28.74. When finding a good short opportunity, a pro trader must look at the daily chart and find the best resistance point. This level is clearly between $28.75 and $29.00. In other words, this level has been tagged as of today. In addition, there is a topping tail forming on the daily chart. A topping tail is a great short signal. ...Continue reading here: http://bit.ly/vZ4RAN
Beware of Whipsaw Wednesday
The Wednesday before options expiration is usually the most volatile trading session of the week. We call this trading day 'Whipsaw Wednesday' as the action will usually be very erratic. This is a time when the large institutional traders will try and shake out the small retail options traders that is playing the near term expiration. As it goes in life, the big fish will most often eat the little fish, it is no different in the stock market during the week of options expiration. ...Continue reading here: http://bit.ly/zhaYSY
Priceline.com Inc Puts In Topping Tail
Priceline.com Inc (NASDAQ:PCLN) is forming a topping tail on the daily chart. This is a bearish signal of a coming decline in the stock price near term. Today, the stock hit a high of $588.56 and is currently trading at $573.55, +2.40 (+0.42%). Just in 2012, the stock has gone from $467.00 to the high of today at $588.56. This is a move of 26%. Based on the current chart, a pull back is on the horizon. First support would be at $547.00. ...Continue reading here: http://bit.ly/xNat18
7 Reasons A Stock Market Top Is At Hand
The markets are hovering slightly lower on the day with the SPDR S&P 500 ETF (NYSEARCA:SPY) trading at $135.06, -0.30 (-0.22%) and the PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ) trading at $62.99, -0.06 (-0.10%). As the markets remain near their recent highs, signals of a top are all around. Here are the reasons.
1. The media is euphoric, coaxing the retail investor into the market. Throughout history, when the retail investor jumps in, the top is at hand. ...Continue reading here: http://bit.ly/zsDqpD
Financial Stocks Dip Early, Will The Decline Last?
The financial stocks have been very strong since December 19, 2011. J.P. Morgan Chase & Co (NYSE:JPM) is the leading financial stock in the market. This morning, JPM stock is declining lower by 0.43 to $37.86 a share. Nearly everyday, the financial stock will trade right along with the SPDR Dow Jones Industrial Average ETF (NYSEARCA:DIA). This leading sector will normally decline in the early part of the trading session and rally back in the second half of the day. Traders can watch for intra-day support on JPM around the $37.60, and $36.85 levels. ...Continue reading here: http://bit.ly/xaMTuq
High Gasoline Prices Will Come Back To Haunt Us
While many people are rejoicing over the recent inflation rally they may want to look at the price of gasoline. The United States Gasoline Fund (NYSEARCA:UGA) has surged higher with the stock market since December 19, 2011. At that time, the UGA was trading as low as $45.17 a share. This morning, the UGA is trading at $54.53 a share. That is a gain of $9.36 a share in just eight weeks. The average price for regular unleaded gasoline at the pump is now $3.51 a gallon in the United States. Prices in California and other parts of the country are around the $4.00 a gallon level. ...Continue reading here: http://bit.ly/w4yfmz
Once Again It Is Groundhog Day In The Markets
Once again, the major stock indexes rallied higher after a quick decline in the first hour of the trading session. This same pattern seems to be repeating nearly every trading day since late December 2011. Many traders and investors are now looking for this pattern to occur on a daily basis before the noon hour. ...Continue reading here: http://bit.ly/zgpshN
Prime Time Analysis On The Daily Market Situation
The markets are slightly higher today after Greece approved tough austerity measures over the weekend. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $135.03, +0.60 (0.45%). As riots in Greece continue, the markets rejoice. For now, the European Union has been saved. ...Continue reading here: http://bit.ly/yU2zPx
Energy Stocks Lose Early Steam
This morning, the leading integrated energy stocks have pulled back from the opening highs. Traders must remember that the energy sector accounts for roughly 15.0 percent of the S&P 500 Index. The leading energy stock in the world is Exxon Mobil Corp (NYSE:XOM). This stock was trading as high as $84.50 just after the opening bell rang at the New York Stock Exchange. The stock is now trading higher by just 0.24 cents to $84.04 a share. XOM stock will have intra-day support around the $83.75, and $83.00 levels. ...Continue reading here: http://bit.ly/wjvLSy
Options Expiration Week, Let The Games Begin
On February 17, 2012, it will be options expiration. The days leading up to the actual expiration will usually make for a lot of volatility in many of the popular and highly traded stocks. Traders and investors must understand that this week is notorious for rumors and game playing by the large financial institutions. You see, it is the institutions that move market indexes and stocks, it is not the individual at home with an online account that cause the popular stocks to rally or decline. This is a week when traders will see a lot of choppy action in stocks such as Apple Inc (NASDAQ:AAPL), Netflix Inc (NASDAQ:NFLX), Green Mountain Coffee Roasters inc (NASDAQ:GMCR), Amazon.com Inc (NASDAQ:AMZN) and many others popular equities. ...Continue reading here: http://bit.ly/zjr7vE
Transports Head South
This morning, the important transportation sector is declining sharply lower. The iShares Dow Jones Transportation Index (NYSEARCA:IYT) is trading down by $1.41 to $$93.40 a share. This index is followed by many institutional traders as a leading indicator. When the transports decline it is a sign of economic weakness and contraction. The opposite is true when the transports advance, it is viewed as a sign of economic expansion and growth. Traders can watch for intra-day support on the ITY around the $93.00, and $91.70 levels. ...Continue reading here: http://bit.ly/w1iKYW
ConocoPhillips Bucks The Morning Trend
Conocophillips (NYSE:COP) is one of the world's leading integrated energy stocks. This morning, the stock is trading higher by 0.50 cents to $72.05 a share. COP stock is trading higher despite the sharp early morning sell off in most other energy stocks. This early move in COP tells us that the stock has intra-day relative strength. If the major stock indexes do bounce higher at some point today this stock could lead the markets higher. Short term traders must watch for intra-day resistance around the $72.50 and $73.00 levels. ...Continue reading here: http://bit.ly/xZHy5y
Groundhod Day Again And Again
Yesterday, we wrote about the major stock indexes declining in the first half of the trading session only to bounce higher throughout the afternoon. Well, it happened again today. The same exact pattern repeats nearly every trading day since mid-December. ...Continue reading here: http://bit.ly/wKsUPc
Attempted Market Break Down Is Foiled Again
There is a key trend line on the SPDR S&P 500 ETF (NYSEARCA:SPY) stretching from January 31st, to the low of yesterday. This line has been hit multiple times between these two points and has bounced each and every time. Again, the market hammered this line twice in the morning session of trading today. Each time the 10 minute candle on the SPY closed below. As traders were set to pounce, the market spiked higher, negative the close. Each time the markets got below this major trend line, a buy program of epic proportions hit the market. Simply put, computer programs have been set up by institutions in league with the Federal Reserve to keep the markets from breaking this line. It is scary to think of the stock market as being so heavily manipulated. However, watching it trade over the last six weeks leaves little doubt. ...Continue reading here: http://bit.ly/ybGPAG
Base Metal Stocks Struggle Early Many of the leading base metal producing stocks are struggling to catch a bid this morning. Rio Tinto Plc (NYSE:RIO) is a leading stock in the base metals and materials sector that is coming under some early selling pressure. This market leader is declining by $1.31 to $60.22 a share. The decline in this market leader comes despite a strong copper, gold, and silver market today. RIO will have short term intra-day support around the $60.00 and $58.75 levels. ...Continue reading here: http://bit.ly/xyLb0a
Cloud Stocks Reaching A Short Term Ceiling
All of the cloud computing stocks are trading higher again this morning. Earlier today, Oracle Corp (NASDAQ:ORCL) purchased Taleo Corp (NASDAQ:TLEO) for $1.9 billion. This deal is certainly helping many of the leading cloud computing stocks to trade higher today. ...Continue reading here: http://bit.ly/yCqwxS
Everyday Is Groundhog Day
Once again, the major stock indexes have found a low by the noon hour and then floated higher into the afternoon. Nearly everyday we see the same pattern repeat over and over. The trading volume remains extremely light which generally favors the upside in the stock market. Traders must remember the old market adage that states, never short a dull market. The words light volume can be substituted for dull. Since December 19, 2011 the average volume in the SPDR S&P 500 Trust (NYSEARCA:SPY) is around 120 million shares a day. The three month average volume in the SPY is around 210 million shares. It is easy to see what a dull market this really is at this time. ...Continue reading here: http://bit.ly/AcLbAu
Chinese Stocks Heat Up
Chinese stocks are flourishing today after the Shanghai Index jumped to 2347.53, +57.04(+2.43%). This pop set the China solar stocks on fire with Trina Solar Limited (ADR) (NYSE:TSL) trading at $9.00, +0.80 (+9.76%). Others like JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) and Suntech Power Holdings Co., Ltd. (ADR) (NYSE:STP) are also having a big day. ...Continue reading here: http://bit.ly/x9Hb2g
Key Stock Trading Analysis
The markets are hovering slightly lower on the trading day. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $134.58, -0.21 (-0.16%). While the markets remain overbought, the free money policy of the Federal Reserve and light volume propping has created the best start in 25 years in the market. The scary aspect of this is that the rocket will eventually run out of fuel and fall to earth quickly. The question is simply when? ... Continue reading here: http://bit.ly/xDVdfl
Agriculture Stocks Send Mixed Signals
This morning, the leading agriculture stocks are all trading higher to start the day. The Market Vectors Agribusiness ETF (NYSEARCA:MOO) is trading higher by 0.46 cents to $53.34 a share. The MOO is trading above all of the major daily chart moving averages which puts the stock in a strong technical position. Traders must recognize that the MOO is now getting a little extended and overbought. This tells us that a pullback or consolidation could be in the cards soon for the agriculture ETF. Short term traders can watch for intra-day resistance around the $53.50, and $54.00 levels. ...Continue reading here: http://bit.ly/Ac3rE3
The Inverse Trade Works Again
Once again, the inverse relationship between the U.S. Dollar Index and the major stock indexes works. This morning, the U.S. Dollar Index futures started the day higher and then just plummeted before the opening bell. This same pattern played out yesterday and the nearly everyday before that. Many traders are now looking for the early decline in the SPDR S&P 500 Index ETF (NYSE:SPY), or the SPDR Dow Jones Industrial Average (NYSE:DIA) as a buying opportunity for the day. Earlier today before the open, I alerted traders to look for a decline in the U.S. Dollar Index once the opening bell rang at the New York Stock Exchange. That is exactly what happened, and this is the catalyst for the rally in the major stock indexes. ...Continue reading here: http://bit.ly/xmrRtQ
Stock Market Update
The markets continue their float neutral to higher as optimism remains high. Positive news from Greece is helping the Euro pop. The stronger Euro is pushing the Dollar lower, which in turn is helping the markets continue their multi month rally. ...Continue reading here: http://bit.ly/wjKtJ7
Manipulated Market: A Tale Of The Federal Reserve
Sometimes it is scary to see manipulation in full swing in the stock market. Actually, it is always scary to think such blatant manipulation can occur and by the leading powers in the "free" world. Let's set the stage. The markets opened slightly lower. No big deal here. They slowly inched lower on light volume, heading for the master support of $133.80 on the SPDR S&P 500 ETF (NYSEARCA:SPY). This level was the gap window from Friday and had also touched yesterday. Simply put, it is key support. ...Continue reading here: http://bit.ly/xiXD2d