All Blog Posts (147)

The stock market has surged sharply higher since the fiscal cliff vote in the United States in early January. The bulls have run wild at the start of the new year. Many talking heads in the financial media have now started to say that money is coming into stocks instead of the usual mutual fund outflows that have been occurring since 2008. Often, when the public starts to get excited about the stock market it is time for a correction to occur in the markets.



Many professional…

Chevron Corporation (NYSE:CVX) is trading at $115.43, +1.46 (1.28%). The key to this price point is the gap window. Note the chart below. Generally, stocks will see a pull back off gap window prior to going to gap fill which is at $117.35.



Considering a proprietary time count is seen here as well, there is a solid chance of a pull back in the next few days. 



Gareth…

Apple Inc. (NASDAQ:AAPL) has started to fall again, trading at $527.06, -15.04 (-2.77%). Many investors and analysts are perplexed, wondering whether it is headed to new 52 week lows, below $500.00 per share. The charts tell the truth and will be explained below.



Note the bottoming tail on November 16th, 2012. That was the low pivot in the second half of 2012 and even though the price was retested and pierced, it never closed below that low. This puts a line in…

The market pushed higher again today. The last two trading days erased the sharp Tuesday decline. The collapse on Tuesday was the biggest point drop of 2012. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $136.76, +1.07 (0.79%). While most amateurs have regained their bullish composure, the true pro traders are still skeptical. With the SPY hovering at gap fill and the markets yet to take out their 52 week highs, the bullish case is still lacking.



This bullish action is ahead…

The markets are floating higher today after an agreement was reached on a second Greek bailout. This market float is the same light volume we have seen for almost two months now, no change based on the European news.  Based on the market reaction, the bailout was fully expected and priced in. The SPDR S&P 500 ETF (NYSEARCA:SPY) is trading at $136.80, +0.39 (+0.29%).



After options expiration ended on Friday, Apple Inc. (NASDAQ:AAPL) found itself near the $500.00 level. Always…

As Facebook prepares to go public, anything in the social networking space has seen a monster increase in value. Stocks like Linkedin Corporation (NYSE:LNKD) are jumping today, trading at $76.45, +4.08 (+5.64%). In addition, Chinese social player Renren Inc. (NYSE:RENN)  is trading at $5.63, +0.62 (+12.38%). While these stocks have already run higher and are no longer plays, it is interesting to think about other sympathy plays that may run. The key is to look for the extension to the social…

This morning, all of the leading financial stocks are trading higher. When the financial stocks rally it is usually a good sign that the major stock market indexes will hold up. Traders should follow Financial Select Sector SPDR (NYSE:XLF) closely. The XLF has started higher by 0.16 cents to $12.73 a share. Short term traders should watch for intra-day resistance around the $12.75, and $12.90 levels. If the XLF starts to retreat from the morning highs it is a good chance that the stock…

The solar sector is finally participating in a rally. Throughout 2011, the solar stocks have fallen, even during great market moves to the upside. The obvious issue has been margin pressure and the problems in Europe. Europe has long been one of the biggest buyers of solar energy. Austerity measures have meant major cutbacks in solar installations. In addition, overproduction of solar cells from China have caused major price cuts. Prices of solar panels have fallen off a cliff in 2011 and…

SMH Semiconductor Hldrs ETF attempting to stabilize after testing support zone (34.59 -0.58) Second level support noted in The Technical Take at 34.55/34.45 has been tested in recent trade (session low 34.45) with it attempting to stabilize -- ADI -1.6% (hovering near its 50 sma), AMAT -2.3%, ALTR -2.1%, AMD -2.2%, AMKR -3.6% (tested 50 sma/ema), BRCM -1.6%, KLAC -1.5% (tested 50 sma), LLTC -1.4% (tested 200 ema), TER -2.6% (tested 200 ema). 

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ECONX Labor Sector Recovery Remains Sluggish, Unemployment Ticks Higher For the second consecutive month, nonfarm payroll growth underperformed expectations and stayed well below the 100,000 per month needed to maintain a stable unemployment rate. Nonfarm payrolls added only 18,000 jobs in June after adding a downwardly revised 25,000 (from 54,000) in May. The Briefing.com consensus expected nonfarm payroll growth of 80,000. The lack of job growth should not be too shocking, except in…

Google shares now down ~2.8% in premarket trade after stock was downgraded to Equal Weight, from Overweight, at Morgan Stanley (546.60 ) -Update- Stock at $532.50 in premarket.

Read more: http://www.briefing.com/Platinum/InDepth/InPlay.htm#ixzz1RWejVEYU[7:53:25 AM] mario marciano: 

FCX Freeport-McMoRan: Workers at Freeport Indonesia plans to extend its strike that began on July 4th through July 18th - Dahlman Rose (54.82 -0.67) Dahlman Rose notes the union representing workers at Freeport Indonesia plans to extend its strike that began on July 4th, through July 18th. The Grasberg mine is the co's premier asset, and accounts for roughly 30% of its production. Freeport believes the strike is illegal, but is prepared to begin negotiations for a new two-year contract. This…

Opening Point Gainers/Losers Point Gainers: GLD (+1.22), JVA (+1.18), AAPL (+0.87), VMW (+0.63), FCN (+0.70), AEM (+0.58), LOCM (+0.71) 

Point Losers: GOOG (-13.70), PCLN (-7.34), ALV (-5.79), ARX (-3.36), XXIA (-3.01), A (-2.90), TRW (-2.60), MELI (-2.60), CAT (-2.43), DKS (-2.39), CRM (-2.33), BIDU (-2.40)

Read more: http://www.briefing.com/Platinum/InDepth/InPlay.htm#ixzz1RWeUM88E[7:52:24…