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Possibly related to the Twitter hack? I bought in last week on the dip and added this week. Feeling good!
Bearish wedge broke on the downside? I have been all cash waiting for this opportunity if so.
Thank you. I have much to catch up on the business side here since I bought in on the technical indicators.
I was a buyer last week when it appeared the price was breaking out of the large descending triangle on the weekly chart. This triangle has been the only deterrent for a position sooner due to the large gap at its base, and the possibility of filling it. The volume also tells me it may be about to blow again. I have a sense there is a lot of money on the sidelines waiting to pour in, and they are jumpy to not miss the rocket. Every large bid or big buy triggers a mini intraday squeeze/pop before a slow pullback.
Thanks for the resistance/pivot points. If we make our way to 20 and break it with news, the price could technically hit 35 based on the height of the triangle. I may add if the breakout is confirmed this week.
I see a cup forming intraday, may be gearing up to break $1 soon
I would say there is growing positive sentiment on results here. Looking forward to seeing 13f activity in a couple of months regarding institutional positioning
Correction: The candle on wednesday 28th, not last week.
Volume coming in
The bids are strong, looks to try and break ,70 again and maybe run some. Last week's candle was ugly and I thought we would retrace more. It may have just been shorted down, so bulls may smell weakness in the drop.
So it's follow the bourbon is it? :)
I sold ROX today with almost 30% gain. I added much on the way down, and funny that the buyout price was very near my initial average. My family and friends in all either broke near even or gained up to 50% so it was a bittersweet happy ending.
<a href='https://postimg.cc/fVK9hd05'; target='_blank'><img src='https://i.postimg.cc/fVK9hd05/Screenshot-20190828-184526-Adobe-Draw.jpg'; border='0' alt='Screenshot-20190828-184526-Adobe-Draw'/></a>
New HOD with volume
I do the same on my travels. It is fun, like a treasure hunt. :)
Have you noticed that every city has a Jefferson street name? One time I actually stayed on one.
Great description:
"To personify the brand and differentiate it from others on the market, Trey chose Thomas Jefferson, who’s known for both his curiosity and experimental spirit. This mindset embodies what the brand set out to achieve: upholding tradition, while always discovering new possibilities and pushing the boundaries of the bourbon category".
That is why the brand is so successful
It would be nice if we consolidated into a bull flag (handle) for this week before another leg up. The daily chart has formed a cup curvature since late April. It would be a healthy cool down.
Broke it! Nice action. Looks like the double top at ,65 sent us down last, a key next level!
I agree with you on the tariffs. The publicity of this brand mentioned along with other comapanies such a Apple seemed notable, but in hindsight, Zacks is not really a good metric to base that on.
Trump Brings Holiday Cheer for Consumer & Tech Stocks & ETFs
https://www.zacks.com/stock/news/470596/trump-brings-holiday-cheer-for-consumer-amp-tech-stocks-amp-etfs
Zacks pulled this from a Reuters article and the slipped in the Castle Brands mention.
The July upsurge in the key U.S. indexes wavered to start August as stocks slipped mainly on renewed U.S.-China trade tensions. Investors should note that Trump announced plans to levy a 10% tariff on $300 billion of Chinese imports that aren’t subject to U.S. duties yet. The new tariffs, which covered a host of consumer products, was initially said to be put into effect on Sep 1 (read: Fed & Trade Trigger Market Bloodbath: 6 Hot Inverse ETF Areas).
However, U.S. President Donald Trump backpedaled his Sep 1 deadline for 10% tariffs on many Chinese imports, and delayed duties on cellphones, laptops and other consumer goods, in order to not dampen U.S. holiday sales. The United States Trade Representative office noted that new tariffs on certain consumer items would be held off until Dec 15.
Investors should note that as tariff tensions have heated up, consumer stocks are under immense pressure. An analysis by J.P. Morgan’s chief equity strategist Dubravko Lakos-Bujas indicated “that two-third of the products to be hit by the impending round of tariffs are concentrated in the technology and consumer discretionary sectors of benchmark stock indexes,” as quoted on MarketWatch. According to a report by UBS, hardline and grocery retail are the hardest hit this time.
Retailers will try to pass on some burden of higher costs to consumers, thereby raising prices. This is likely to bump up inflation levels in the U.S. economy. Higher inflation in turn will give a boost to bond yields. This would increase consumers’ outlays and hurt ETFs.
How the New List & Deadline Affect Consumer & Tech Sectors?
The latest announcement of an almost $300 billion list of products from China has been segregated into two separate parts. Per Bloomberg, some goods like agricultural products, antiques and kitchenware are on the Sep 1 list. In all, this whole chargeable section has a total value of more than $110 billion, according to a Bloomberg News analysis of last year’s import figures.
“Flat screen televisions from China, a category worth $4.5 billion, also will face 10% tariffs” on Sep 1. Live animals, dairy products, skis, golf balls, contact lenses, lithium ion batteries and snowblowers will also face tariffs on Sep 1, per Reuters.
However, big-ticket items like smart-phones, laptops, and children’s toys, worth about $160 billion, will not bear the brunt of higher tariffs until Dec 15. Per USTR, there will be a delay in tariffs on items where China supplies more than 75% of total U.S. imports. Product categories where China supplies less than 75% will face higher tariffs starting Sep 1, per Reuters.
Consumer Stocks & ETFs Shine
With the holiday season being all-important to the consumer discretionary (and the technology sector to some extent), such delay on major products came as an early Christmas gift. Most retailers would try to stock up their holiday merchandise before the September deadline.
The Retail Industry Leaders Association said “removing some products from the list and delaying additional 10% tariffs on other products, such as toys, consumer electronics, apparel and footwear, until Dec 15 is welcome news as it will mitigate some pain for consumers through the holiday season,” as quoted on Reuters.
Some of the top-performing consumer stocks on Aug 13 were clothing and footwear companies like Centric Brands Inc.CTRC (up 6.7%), Iconix Brand Group Inc. (up 6.3%), Caleres Inc. CAL), PVH Corp. PVH (up 3.6%) and Steven Madden Ltd. SHOO (up 3.4%).
Toy companies Mattel Inc. MAT (up 4.6%) and Hasbro Inc. HAS (up 2.8%) were among the top gainers. Beverage company Castle Brands Inc. (ROX - Free Report) (up 5.7%) and food company Freshpet Inc. (FRPT - Free Report) (up 5.4%). Retailer Best Buy Co. Inc. (BBY - Free Report) added about 6.5%. Discount retailer Dollar Tree Inc. (DLTR) added about 4%.
Retail ETFs like SPDR S&P Retail ETF (XRT - Free Report) (up 1.6%), VanEck Vectors Retail ETF (RTH - Free Report) (up 2.0%) and First Trust Nasdaq Retail ETF (FTXD - Free Report) (up 2.6%) deserve special mention (see all Consumer Discretionary ETFs here).
Mixed Impact on Tech; Key Stocks Sizzle
According to U.S. Census data, “China supplied 82% of U.S. cell phones and 94.5% of U.S. laptops in 2018.” So, a delay in tariffs in such stuffs means a lot to shoppers and shopkeepers before Christmas. The Consumer Technology Association celebrated the delay but added that it will start paying more for some of tech devices, including TVs, smart speakers and desktop computers.
Electronic equipment companies like Koss Corporation KOSS (up 4.3%), Apple (AAPL - Free Report) (up 4.2%) and Vuzix Corporation (VUZI - Free Report) (up 3.6%) gained considerably. Apple Inc.’s (AAPL - Free Report) iPhones will not be subject to new import taxes until mid-December.
Investors can also find strength in Apple-Heavy ETFs like iShares U.S. Technology ETF (IYW - Free Report) (up 2.4%), Select Sector SPDR Technology ETF (XLK - Free Report) (up 2.5%) and Vanguard Information Technology ETF (VGT - Free Report) (up 2.4%) (see all Technology ETFs here).
Fascinating high density blocks of micro buys! From my observation with ROX, this has past signified the start of bigger movement and volume. I have seen this occurance in the form of sells before price breakdowns. Hopefully big buys follow soon.
Since the Q, the bid density has been stacking up similarly in the 50's to the pre-release runup, but the volume is rather anemic. My other holdings share this symptom, and I believe the overall market has been pausing a bit to see how the recent turbulance progresses.
I agree with you that 40s are looking less likely. We are siting sitting near the top of the long-term channel (or maybe breaking above it again) last I checked, so I really hope we can bust it for good to initiate the longer term run. I am going to chart it this weekend after the weekly close.
You hold the status as ROX Oracle as far as I'm concerned. Your intuition on product demand/supply hiccup for the Q was spot on.
Thanks!
Q is just released
The bid just fattened up in response to the dip. There may be an exchange between swing traders who do not hold through Q's and traders with a long term vision here
Strong trading week. Yesterday the EU made a beef export deal with the United States. This may have been a contributing factor to some of the rebound here, in addition to the lift of whiskey tariffs from Mexico and Canada. The deal may offer hope that the EU will step back its whiskey tariffs in a market that was really beginning to gain strong interest in craft bourbons.
I am not even sure if the tarrifs had much effect on us, I believe Jack Daniels had was quoted with only a 1% hit. All the media hype on possble damage to whiskey dried up before May.
If there was a negative impact on sales, and the whiskey growth is so robust that impact was negligible, it will be exciting to see sales when trading taxes normalize as we continue to post record case sales with the current situation.
Perfect symetry in the intraday action! Looks like it will break soon and challenge 60 cent
NPR covering news of massive decline in shark populations this morning. Ocearch could get more publicity soon. It really is an important research tool. I am hoping they mention them on the radio program now!
That is quite a haul! Thank you for the update on Knoxville, and the Castle Brands reach in eastern TN. I was curious about that already.
I was recently in Nashville and was disappointed to not see too many of our brands there. I did only brave a few bars as the place was entirely too rowdy for my family, so there may have been more there.
I did sample several different local rye whiskeys in anticipation for the Jefferson extension. I am most excited about its release because ryes are my new favorite variety.
I usually out of habit plop a single ice cube with them, but FUN has inspired me to get back to neat servings. In my opinion there is not enough 'heat' in Jefferson's to justify diluting the flavors in most cases.
The drive to the KAD was a little out of reach from there, but I did consider it long. I am going to wait to celebrate on a solid pps rebound and take some friends and family who also have a stake in this investment.
I am loving the bullish sentiment here and the breaking news on the short interest decline! It made my weekend.
I laid down a bid this morning and it hasn't filled at ,55. There was already a larger bunch of buyers sitting there
New filing out
Proxy Statement - Notice of Shareholders Meeting (preliminary) (pre 14a)
Irish to the Core (missing FUNMAN posts)
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Probably a prudent measure to see how the weekly candle closes before starting a new investment. I am hoping for a test and rebound off the top of the channel, somewhere north of ,50 to ,53.
If this simply continued to breakout that would be fine with me. History here does warrent caution. All trends, no matter how deeply ingrained can be reversed, and maybe ROX's buying pressure has overcome the down channel.
Maybe we will get some upgrades this week from analysts such as Maxim group who will go from 'hold' to 'buy' eventually.
Yes! We snuck out of the channel yesterday, and this time for once followed through in confirmation. Big bids stacking up.
It was exciting to watch.
I was right there with you watching it get chipped at, larger and larger bites, and then the big chomp. All around bullish activity today.
Before the last earnings revelations, that would have succeeded in capping the buying off for the day. The buying pressure is thickening.
Russell reconstitution finalizes on market close Friday.
We will finally have a solid variable influencing PPS movement removed from the equation.
The Frost controversy, a bad Q (on paper, but the held inventory plan worked out) compounded to the Russell ousting.
-The Frost controversy is over and the PPS has rebooted either way
-The bad Q has in the least been canceled by the most recent earnings numbers, and has given a very positive outlook for the next release and beyond.
-The Russel effect ends Friday so that is out.
We will at least have a clearer equation to attribute to price movement next week
The FarmLens app is out in Google Play, and possibly other platforms. I put a bid out to add today before the PR hits.
Someone just picked up 100k shares at
0.53 and initiated a price rebound for now. The low 50s remains a loading zone for sizable block buys.
The question is how priced in is the likely Russell departure, as I agree with FUNMAN that is would be easily anticipated. ,50 area resulted in large smacks of mostly buying volume, establishing a battleground level
That AH large sell could be the Russell effect. I have never held a position through an event such as this. Has this occured before here? If so, what effect did being dropped have (e.g. degree of price drop, and length of time frame the effect was)?
I would imagine there are savvy buyers waiting to spring in at a drop from possible loss of our Russell standing. In that case, there could be sharp swift block sells followed by a vacuum fill of new ROX longs and institutional adding? I hope.
AV-101 for Neuropathic Pain:
Not much discussion on it. Non-opioid pain relief is quite a significant blockbuster potential. The price moved strongly on news of advancing clinical studies if I recall. Any thoughts on phase 2a results?