While the plastic fantastic were busy blowing smoke up their own asses non-stop, all global markets peakedStocks are rolling over like it’s Y2KEmerging Market currencies and credit are getting shellacked like 1997Commodities are in 2008 melt-down modeAll at the same time.“No blind man saw that coming”NYSE Composite % of stocks above 200 day moving average:‘Conomy is entering a Third Wave […]
Are You Ready For A Pullback? BIIB, AMGN, GILD, CELG, UTHR, JAZZ, GOOG, FB, NFLX, APA, APC, EOG, PANW, DO, RIG
Stocks reversed the morning gains today and ended lower. The Dow was down 120.72 points (-0.69%); Nasdaq fell 83.5 points (-1.62%); SPX dropped 16.28 points (-0.78%).In this week’s Market Forecast, we discussed the possibility of leading sectors (biotech, internet, software, financial) finally falling back and pulling the broader market down.I have been saying for a while now that the broader […]
Stocks rallied today, lead mainly by the large cap names. Trading volume eased, giving some indication the bounce from recent lows may be tiring. Leading names and small caps lagged the market. It’s becoming tough to find quality entry points, as many stocks are rolling over. Curiously, biotechs lost ground today. If this trend continues, which I doubt it will, […]
Via Dana Lyons’ Tumblr,We’ve used much of the space here in the past several weeks pointing out the deteriorating breadth conditions in the U.S. equity market. The trend has been so profound it has now reached the point where it could potentially shift from one of short or intermediate-term relevance to something that might impact the longer-term cyclical bull market. […]
But “everything was awesome”?
•Russell 2000 -3.1% – worst week since Oct 2014 (Bullard)
•Dow -2.8% – worst week since Dec 2014
•S&P -2.1% – worst week since Jan 2015
•Trannies -2.8% – worst week since Mar 2015
•Nasdaq -2.2% – worst week since Mar 2015
Who is to blame for all this?
Leaving The Dow comfortably red year-to-date…
This is notable; VIX was pressed notably lower into […]
At the risk of being considered a Pollyanna or a perma bull, of which I’m neither, I think we are going up hard soon. Now I know said the technicals were in the bulls favor after yesterdays bullish reversal, and they were, but then the most advertised and telegraphed Black Swan happened….China.Greece is still front and center and the NYSE […]
#MarketUpdate: It’s all Greek to me…The markets opened in the red as expected, rallied to near unchanged and at midday are just modestly lower. The Dow is off 44 points, Nasdaq Comp in the red by 14 pts, S&P-500 lower by 6pts, and the Russell 2000 is holding up the best with only a 3 point loss. For some context, […]
Stocks are finally breaking out!The Russell 2000 small-cap index? Check. Midcap stocks? Double check. Blistering biotechs? Triple check. In fact, The Biotech iShares continued to reach for new highs Monday after last week’s jolt.There are still some weak spots out there, like utilities. But if you’re taking the time to zero-in on the strongest stocks in the strongest sectors, you’re […]
I count forty seven winners, eleven losers, one break even trade for the June option cycle. While I made money, I had my first whopper loss for 2015 plus a stupid trade so grade is a C. Both the big loser and whopper loss were in AMBA. I also got whipsawed in JBLU and MRK. I made money in SKX, […]
Just to confirm reality for a second…
Yesterday: Yellen sees global turmoil if no Greece deal.
Today: Greece deal falls apart, ECB hints at bank runs; -> stocks hit record
Confused? Don’t be… Only one clip seems appropriate for a day like this…As long as you ignore Greek contagion, economic downgrades, weak earnings, and that general sense that none of this makes any […]