I’m addicted to this short. I put it back on. I’m looking for the market to close in the red tomorrow. Today shocked me a little bit, but my individual stocks have done ok in this up move. I actually mentioned on the morning posts when I sold out of my short (which happened to be a decent money saver for myself) that the “easy money was made last week.” This week has bee...
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The first chart is daily chart of AMGN, which shows why it is having such a hard time breaking out of the $64-65.00 range. There are lots of pivots dating back to 2006 which are getting in the way of a smooth BO. Last week it failed at $64.00, but has continued basing in a tight range so I have kept it on my focus list. Today, it finally broke $64.00 and was setting up a nice C&H pattern at...
Mutual fund dramatically raises its stakes in MBIA and Ambac in the third quarter.
Agilent Technologies reports a 9% drop in fiscal third-quarter profit, as the measurement tools maker struggles with what its chief executive calls "difficult" economic conditions.
Annelena Lobb reports: Goldman Sachs called a dollar bottom, and even used an exclamation point in their report so investors would know they mean it. “The dollar has bottomed!” analysts wrote. Deteriorating economies outside the U.S., including the euro zone, the U.K., Scandinavia, Australia, New Zealand, and Canada, some glimpses of stability in the U.S., and lower oil prices are a...
As the dollar has been rallying hard against the euro, exchange traded funds (ETFs) that are bullish on the dollar have benefited. The dollar has done this as a U.S. slowdown has spread to other foreign economies. Jack Crooks for MoneyandMarkets explains some of the many foreign economic problems that the dollar is rallying against. Germany, for example, has seen industrial orders drop sharply ...
Hey it might be for grandparents, but I love that Werthers. I sold the LTS position. I’m getting nervous of the financials and that my sell this morning although was protective, looks like it was the wrong call. The market has sold off some due to the financials selling off their highs. 1.3% gain. Meanwhile HOGS has hit a new high on the day. I may even try to short the indexes again. I&#...
In the two weeks that I have been away, there have been dramatic moves in the currency market. Not only did the US dollar carve out a bottom, but the greenback’s recovery has been impressive. In less 1 month, the EUR/USD has plunged 1000 pips, which is a drop of more than 6 percent. The psychologically level of 1.50 was easily broken and now, the currency pair is eyeing 1.45. The Euro con...
By Brad ZiglerToday, journalists and pundits waited for the monthly inflation reports to be released by the U.S. Bureau of Labor Statistics [BLS]. Upon their issuance, newsrooms become frenzied as ink-stained wretches put out calls to economists and sell-side analysts for comments.
Since the S&P 500 peaked on October 9th, the index is down 17.85%. As shown, Financials are down the most at 43%, followed by Telecom (-27.5%), and Consumer Discretionary (-20.15%). The other seven sectors are actually outperforming the index as a whole, and the Consumer Staples sector is actually up 1.64%.During bear markets, P/E ratios typically contract as prices fall faster than earning...