Archive for the ‘Immediately available to public’ Category

Signs of a Bottom

 

Signs of a Bottom

Courtesy of 

The S&P 500 gained 6.4% last week, the second-best post-pandemic performance for the large-cap index.  For a moment there, we were out of bear-market territory, bouncing to an 18.5% decline from all-time highs. Now, it’s a bear market again ¯\_(?)_/¯

All silliness aside, calls for a bottom appear premature.

Michael Cembalest and his team did some work on what you want to be on the lookout for, and we’re not there quite yet. They said that PMI surveys have historically been the best leading indicators, and so you’re going to want to see that bottom. It hasn’t. He also pointed out in the chart below, that over the last few decades, we’ve seen interest rates top prior to equity markets bottoming (gray line). So we’re 0 for 2.

Economic data is backward-looking, which is why it tends to bottom after the stock market. Cembalest shows that on average, stocks bottom 116 days before the economy does. That’s a long time. The news will get worse, but the market will stop reacting to it. We’re not there yet.

While it’s too early to call a bottom, there are some signs of capitulation (ARKK flows aside). The companies trading below their cash levels are at the highest levels in the last few decades.

And investors, at least the ones polled by AAII are as bearish as they’ve been since the GFC.

Every bear market is unique, but they all share one thing in common; they end. Sam Ro has a similar takeaway, saying, “the most important pattern in history’s bear markets is that the market has always come out on top — and then some.”

Josh and I are going to cover this and much more on tonight’s What Are Your Thoughts?

 





Let General Mills Command A Position In Your Defensive Portfolio

By MarketBeat. Originally published at ValueWalk.

General Mills

Recession Resistant General Mills Rockets Higher Outlook

We’ve been interested in General Mills (NYSE:GIS) for some time now and we couldn’t be happier with the FQ4 2022 results. The company not only beat on the top and bottom line but issued favorable guidance in the face of mounting economic headwinds. The takeaway here is that defensive consumer staple stocks like General Mills are among the best positioned for today’s times and General Mills is among the best picks. Trading at only 18.5X it’s earnings outlook the stock is undervalued relative to its peers while paying an above-average dividend and growing the bottom line.

Q1 2022 hedge fund letters, conferences and more

“General Mills took important steps to advance its portfolio reshaping efforts during fiscal 2022, announcing or closing seven transactions that are expected to increase the company’s top- and bottom-line growth profile over the long term,” said the company in the Q4 release.

General Mills Attacks Inflation And Scores A Win

General Mills posted a great quarter despite a 500 basis point impact on top-line growth attributed to divestitures and FX conversion. The company reported $4.89 billion in revenue for a gain of 8.2% over last year and it beat the Marketbeat.com consensus by 165 basis points. The growth was driven by a 13% increase in organic sales that are due in large part to pricing and mix. The company says pricing and mix are worth 1400 basis points in revenue and were offset by divestiture, FX, and a 2.0% decline in pound volume. On a segment basis, North American Foodservice led with a gain of 27% which is not surprising given the rebound in hospitality activity. International was weakest at 6% but also felt the largest impact from divestiture while Pet and North American Retail both grew in the mid-teens.

The margin news is a little mixed but ultimately bullish for the stock. The gross margin expanded 120 basis points on the impact of pricing, lower charges versus last year, and divestitures but the adjusted gross margin did not. The AGM contracted by 70 basis points due to “double-digit inflation” offset by pricing actions and internal efforts to control costs. The good news is the AGM is improving on a sequential basis and should…
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Don’t Bet On A Rebound In Unifirst, Yet

By MarketBeat. Originally published at ValueWalk.

Unifirst

Growing Pains Cut Into Unifirst Results

Unifirst (NYSE:UNF) has been working hard to grow its business in an effort to compete more directly with uniform and business services company Cintas (NASDAQ:CTAS). Looking at the top line, those efforts are paying off but it is costing the company on the bottom line. The bottom-line results, and the guidance, reveal not only the impact of aggressive internal efforts to retain employees, and clients, and expand the brand but the impacts of inflation as well. In our view, Unifirst is well-positioned for the times but now isn’t the right time to buy into the story.


Q1 2022 hedge fund letters, conferences and more

Unifirst Grows Revenue But Margins Contract

Unifirst had a good quarter when looking at the top line and it even beat the consensus but that is about all the good news we have. The company reported $511.55 in consolidated revenue for a gain of 10.2% over last year but significant margin compression is present as well. The gains were driven by a 10% increase in core Laundry sales that were compounded by a 7.7% increase in specialty garments.

Moving on to the margins, the company reported a 37.8% decline in operating income, a 40.3% decline in net income, and a 40% decline in GAAP EPS that is due to the combination of growth investments and inflation. The company says growth efforts trimmed $11.4million off of the income which is enough to offset some but not all of the margin decline. When adjusting for those costs, the operating and net income declines improve to -16% and -20% but are still deep in negative territory.  Looking forward, the company sees these pressures, both of them, continuing in the 4th quarter and have adjusted the guidance accordingly. The company is looking for revenue above the previously stated range and the Marketbeat.com consensus but reduced the outlook for margin. The new earnings guidance is now below the previously stated range and the Marketbeat.com consensus and we see downside risk in the numbers. One of the driving forces of the business is tight labor market conditions, conditions that are presenting problems for Unifirst too.

Unifirst Returns Capital To Shareholders

Unifirst pays a very safe dividend…
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Recession-Proof Patterson Companies Is A Steal

By MarketBeat. Originally published at ValueWalk.

Patterson Companies

Patterson Companies Rockets Higher On Results And Outlook

Patterson Companies (NASDAQ:PDCO) has proven to be very resilient over the past few years both increasing its revenue and earnings power relative to the pre-pandemic period. The company is among the most perfectly positioned for the coming period as well, selling products, services, and technology to the dental and animal health care industries. In our view, both of these industries are not only resistant to recessionary fears but may even get a boost from an economic downturn as consumers refocus their spending dollars. That’s great news for this 3.35% yielding stock.


Q1 2022 hedge fund letters, conferences and more

“While we anticipate the current macro environment will have a moderate impact on our end markets, our proven team, compelling value proposition and strong competitive position give us confidence as we enter fiscal 2023. Our fiscal 2023 guidance anticipates delivering year-over-year revenue growth and operating margin expansion,” says CEO Mark Walchirk.

Patterson Companies Beats And Guides Strong, Market Cheers

Patterson Companies had a strong fiscal 4th quarter reporting $1.64 billion in sales. This is up 4.9% from last year, 5.1% organically, and beat the Marketbeat.com consensus by 315 basis points. The strength was driven by gains in both segments led by the Animal Health group. Animal Health sales grew by 7.6% which is above the industry outlook led in turn by sales of Equipment. Equipment sales grew by 22% and were offset by slower growth in the Consumables and a decline in Value-Added Services. The Dental Segment grew by 3.4% and was also led by Equipment sales.

Moving on to the earnings, the news gets even better. The company posted robust margin expansion in both segments driven by cost control efforts, pricing actions, and sales leverage. The company reports GAAP net income is up 122% versus last year while the adjusted income is up 87% YOY and left the EPS well above consensus. The adjusted EPS of $0.71 beat by $0.15 and the company is expecting to see earnings strength continue in the current fiscal year.

Turning to the guidance, the company did not give a number for revenue but it is expecting to see margins expand and earnings grow. The $2.25…
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Retail Traders Follow Insiders Into Boxed, Chasing A Bottom

By Fintel. Originally published at ValueWalk.

Boxed

Boxed Inc (NYSE:BOXD) insiders continued to purchase stock during its 80% rout in May and June and their activity caught retail investors’ attention.

Buyers included Chief Executive Officer Chieh Huang and directors David Liu and Andrew Pearson.

Those insider buys appear to have triggered strong retail investor buying activity over the last week and pushed the stock up 1,206 ranks to become the 57th most popular investment for those listing their holdings with the site.


Q1 2022 hedge fund letters, conferences and more

CEO Chieh Huang bought 10,000 shares at $1.65, bringing his total ownership to 2,305,813.

Boxed

Director David Liu bought his first tranche of 20,000 shares at an average price of $1.66.

Director, Andrew Pearson seized the opportunity to purchase multiple tranches of shares from the 10th to the 14th of June. Pearson bought 150,000 shares at an average price of $1.82 per share for a total value of near 270,000.

Pearson has made a 13% return and a $37,000 gain from the purchase.

The graph to the right illustrates the short term profit experienced by some of the insider trades in June.

These three net insiders have pushed BOXD’s insider and officer accumulation scores to 90.63 and 80.32, respectively. These scores are based on BOXD’s accumulation level relative to over 10,000 screened other companies and placed the company in the top 2.5% of constituents in both categories.

Flat sales and continuing losses hurt the share price as the market rotates into better financed and profitable companies as concerns about rising rates continue.

At the first quarter result release in May, Boxed maintained its full year $220-245 million revenue guidance, and it expects la $70 to $80 million EBITDA loss. The market consensus forecasts are for $225 million for revenue and a $79 EBITDA loss, both at the bottom of the forecast ranges.

DA Davidson hosted Boxed’s management on their technology investor call this week, noting that they believe investors should take advantage and buy the depressed share price. Analyst Tom Forte believes BOXD’s B2C offering is well suited for the inflation environment and believes the SaaS business can help the group outperform peers. The firm remains bullish with a ‘buy’ rating and an $11 target.

Boxed

Marvin…
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The Best Marketing Strategies For eCommerce Businesses

By Due. Originally published at ValueWalk.

eCommerce

Every day, new internet users buy products online. From America to Europe to Asia, eCommerce is here to stay.

Therefore, it’s no surprise that global eCommerce sales are expected to hit $5.5 trillion in 2022, according to Statista. But while you have more potential customers, more competitors are also trying to take their share of the eCommerce pie.

So, don’t expect internet users to land on your website and launch a buying spree without your effort. That’s why marketing is vital to any successful eCommerce business’s operations.


Q1 2022 hedge fund letters, conferences and more

Now, there’s no single strategy that works for every eCommerce business. So how do you know the best for your business?

This guide will show you the most effective marketing strategies and how to identify the best for your needs.

How Do You Know What Strategy Is Best For Your eCommerce Business?

As I mentioned earlier, every eCommerce business’s marketing strategy is unique according to various factors. Nevertheless, here are three critical considerations to help you discover the best marketing strategy for your eCommerce business.

Your ideal buyer

While billions of users are online, only a few profiles of people qualify as your ideal customer. Therefore, defining your ideal buyers will determine most of your marketing and even business decisions.

You can define your ideal buyer by creating a buyer persona, which will include details such as:

  • Name
  • Gender
  • Age
  • Income
  • Favorite marketing channels
  • Location
  • Pain points
  • Ambitions
  • Hobbies

These pieces of information will determine elements of your marketing campaigns, such as marketing channels, brand voice, targeting criteria, and more. Here’s an eCommerce buyer persona example from Drip:

Your marketing goals

Although your overall goal is to acquire more customers and revenue, there are many stages of that journey. Your marketing campaigns at various buyer journey stages will have different goals.

Common marketing goals for eCommerce businesses include:

  • Brand awareness
  • Lead acquisition
  • Customer acquisition
  • Customer retention

Once you have a goal for your marketing campaign, it will inform your marketing messages, channels, and tasks. You must also define the metrics to measure your goal during the goal-setting process.

Without setting a goal for your marketing campaigns, you can…
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Why Is The VIX So Low? A Surprising Answer Emerges In The Market’s Microstructure

Courtesy of ZeroHedge View original post here.

One of the most frequent questions tossed around Wall Street trading desks (and strip clubs), and which was duly covered by Bloomberg recently in "Fear Has Gone Missing in Wall Street’s Slow-Motion Bear Market", is why despite the crushing bear market and the coming recession, does the VIX refuse to rise sustainably above 30, or in other words, why is the VIX so low?

As Goldman's Rocky Fishman wrote in a recent note "Option Markets Take the SPX Bear Market in Stride" (available to professional subs), "one of the most popular questions we have received is why the VIX hasn't surpassed its March peak (36) despite the SPX being lower than it was in March and realized vol being higher than it was in March."

Here, Fishman notes that implied volatility was unusually high in March, and the current VIX level (29) is only slightly low for the current level of realized vol. Furthermore, a VIX around 30 typically happens with the 5Y CDX HY spread above 600, and although it has risen steadily it's currently in the mid 500's.

Meanwhile, even as the VIX has fallen moderately since late April, both vol risk premium and skew have both fallen dramatically.

Picking up on this quandary, overnight JMorgan also joined the discussion with its analyst Peng Cheng laying out his own thoughts on why the VIX remains so low (note is also available to professional subs), and similar to Goldman notes that the current bear market, despite being deeper in magnitude, has produced VIX levels well below the peak observed during previous market sell-offs:

However, unlike Goldman which mostly analyzes the VIX in the context of a macro framework, JPM's Cheng offers observations based on his analysis of market microstructure in both equity and options markets.

Cheng starts with the previously noted low realized volatility: as the JPM strategist writes, YTD, the SPX realized vol, measured on a close to close basis, is only 25.5, which means that


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FTC And Antitrust Lawyers Targeting America’s Business Sector

Courtesy of ZeroHedge View original post here.

Commentary authored by Bob Barr via RealClear Politics,

From dialysis to chickens, the U.S. Department of Justice and its regulatory compatriot, the Federal Trade Commission, are flexing Uncle Sam’s antitrust muscles, notwithstanding strong headwinds from skeptical judges and juries. As the United States Chamber of Commerce recently warned in a brief filed with the courts, “Allowing [DOJ] to retroactively criminalize behavior strikes at the heart of the ordered liberty guaranteed to all Americans.”

The work of the Justice Department’s Antitrust Division receives far less public attention than its bigger brother, the Criminal Division, and the 93 U.S. attorneys who prosecute the vast majority of cases brought each year against individual and corporate defendants. Still, the broad reach of modern federal antitrust laws, dating to the early 20th century (the Sherman Antitrust Act in 1909 and the Clayton Act five years later), can strike fear into the hearts of major corporations and their executives, who can be targeted for either civil or criminal prosecution, with hefty fines possible in either context.

While far smaller, the FTC can employ its regulatory reach in tandem with the Antitrust Division to boost policy initiatives favored by an administration intent on punishing the business sector. In this regard, the Biden administration has been particularly aggressive. Fortunately for the free market, the results of this push have been less than impressive. However, recent actions by both the FTC and the Antitrust Division clearly signal this administration’s intent to continue using both its civil and criminal powers to attack the business sector.

In a highly unusual if not unprecedented move, the head of the Antitrust Division, Jonathan Kanter, declared that its lawyers would try for a third time to convince a jury that two of the country’s largest poultry producers, Pilgrim’s Pride Corp. and Claxton Poultry Farms, conspired to share pricing data in order to unlawfully restrict competition. The trial actually began earlier this month, despite the fact that two prior jury trials of the companies’ executives resulted in mistrials – a strong sign that the government’s case lacked requisite evidence, and a sentiment echoed publicly by one of the second trial’s jurors.

Such back-to-back defeats will almost always convince the feds to drop criminal charges


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Military Pledges Against Russian Threat And Oil Climbs Again

By Anna Peel. Originally published at ValueWalk.

biggest crude oil production companies
  • FTSE 100 opens higher – led by energy, mining and defence stocks.
  • Brent crude rises to $116 a barrel as worries persist about supply.
  • Russian threat expected to lift demand for military hardware.
  • The retreat of Covid in China is boosting metals prices and mining shares.
  • WISE revenues surge but worries remain as co-founder faces regulatory probe.

Oil Prices Climb

“The steady march back upwards in the oil price and expectations of higher defence spending have helped bolster the FTSE 100. The Index surged higher in early trade, before falling back slightly, largely shaking off the nervousness that had hit valuations on Wall Street. BP plc (LON:BP) and Shell PLC (LON:SHEL) surged by more than 2% as Brent crude made gains for the third session in a row, climbing back above $116. Big producers Saudi Arabia and the UAE are believed to be operating near the limits of their capacity, adding to concerns about supplies in the market. G7 leaders are expected to agree on a strategy later today to try and curtail Russia’s financial firepower by putting a price cap on its crude, so that its war coffers deplete.


Q1 2022 hedge fund letters, conferences and more

As warnings come thick and fast from military chiefs about the threat to peace in Europe, the expectation is that spending on defence will take a much larger slice of government budgets going forward. With commitments to rapidly increase the number of troops on alert, military hardware requirements will be higher and that’s helping lift the share price of defence contractors. Rolls-Royce Holding PLC (LON:RR), climbed almost 5% amid expectations thatthere will continued to be improved trading for its defence arm. Interest has also been bolstered in arms and aerospace contractor BAE Systems plc (LON:BA), which lifted by 1.6% in early trade.

Covid Retreating In China

The Covid crisis appears to be rapidly retreating in China, with no major cities in widespread lockdown and a rapid drop in cases being reported. The zero-Covid strategy appears to have quashed the Spring outbreak, and the prospects of rapid recovery for the world’s second largest economy is helping lift miners, as metals prices rise in expectation of a surge in demand…
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83% Of Americans Cut Back On Spending As Economy Careens Towards Crisis , Poll Finds

Courtesy of ZeroHedge View original post here.

US consumer sentiment and confidence have deteriorated for households amid slowing economic growth and persistently high inflation that suggests stagflation. 

A new study lends credibility to the current souring macroeconomic backdrop of high inflation and shortages, altering consumer lifestyles, behavior changes, and expectations, all of which show "Bidenomics" could be one greatest failures since the Carter administration of 1977-1981. 

Provident Bank, based in New Jersey, found that 83% of respondents slashed personal spending due to soaring prices of food and gasoline, with 23% indicating they had to make "drastic changes" to their spending for financial survival. 

According to the survey results of 600 adults, 10.5% of respondents eliminated all non-essential purchases, and nearly 72% said they made at least some changes to personal travel habits. 

While some consumers have cut back on some non-essential spending, like dining out and unnecessary travel, others reported much more drastic changes such as skipping meals, conserving water, and eliminating meat from their diets. People are feeling an immense amount of financial pressure right now. Unfortunately, this is not surprising after the Labor Department reported earlier this month that the United States Consumer Price Index (CPI) hit a 40-year high in May. — Provident Bank

Respondents said rising prices of groceries and gas had put the most significant dent in their pocketbooks. According to the survey results, 53% said they now spend between $101 – $500 more per month on groceries, and 32% spend between $101 – $250 more on gas. They also said that skyrocketing prices of baby products, meat, utilities, household goods, milk, and alcohol have led to economic discomfort.  

There's no question this survey outlines consumers are being squeezed by negative real wage growth and inflation at 40-year highs. Many folks have maxed out credit cards and drained personal savings. Much of this economic despair has sent consumer sentiment crashing

The third reading of Q1 GDP on Wednesday said it all: personal consumption growth has collapsed

High inflation plus a rapidly slowing economy could be the emergence of stagflation, a dangerous economic environment that the


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Phil's Favorites

Signs of a Bottom

 

Signs of a Bottom

Courtesy of 

The S&P 500 gained 6.4% last week, the second-best post-pandemic performance for the large-cap index.  For a moment there, we were out of bear-market territory, bouncing to an 18.5% decline from all-time highs. Now, it’s a bear market again ¯\_(?)_/¯

All silliness aside, calls for a bottom appear premature.

Michael Cembalest and his team did some work on what you want to be on the lookout for, and we’re not there qui...



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ValueWalk

Let General Mills Command A Position In Your Defensive Portfolio

By MarketBeat. Originally published at ValueWalk.

Recession Resistant General Mills Rockets Higher Outlook

We’ve been interested in General Mills (NYSE:GIS) for some time now and we couldn’t be happier with the FQ4 2022 results. The company not only beat on the top and bottom line but issued favorable guidance in the face of mounting economic headwinds. The takeaway here is that defensive consumer staple stocks like General Mills are among the best positioned for today’s times and General Mills is among the best picks. Trading at only 18.5X it’s earnings outlook the stock is undervalued relative to its peers while paying an ...



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Zero Hedge

Why Is The VIX So Low? A Surprising Answer Emerges In The Market's Microstructure

Courtesy of ZeroHedge View original post here.

One of the most frequent questions tossed around Wall Street trading desks (and strip clubs), and which was duly covered by Bloomberg recently in "Fear Has Gone Missing in Wall Street’s Slow-Motion Bear Market", is why despite the crushing bear market and the coming recession, does the VIX refuse to rise sustainably above 30, or in other words, why is the VIX so low?

As Goldman's Rocky Fishman wrote in a recent note "Option Markets Ta...



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Politics

Putin's propaganda is rooted in Russian history - and that's why it works

 

Putin’s propaganda is rooted in Russian history – and that’s why it works

Courtesy of Julia Khrebtan-Hörhager, Colorado State University and Evgeniya Pyatovskaya, University of South Florida

Russia’s war against Ukraine is pressing into its fifth month – despite several rounds of failed peace talks, and Western countries’ issuing severe economic sanctions against Russia.

The war isn’t happening just on Ukrainian soil. President Vladimir Putin’s propaganda is propelling...



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Kimble Charting Solutions

Doc Copper Pattern Suggesting Another Huge Decline Is To Be Expected?

Courtesy of Chris Kimble

Looks like the historic run higher in copper prices may be taking a breather.

While we cannot say that the LONG-term rally is over. It definitely has put in an intermediate top.

Back in March, we wrote about this possibility in our article, “Is Copper Repeating Historic Double Top Price Pattern?” There have been two other historic double tops that have taken place in the past 20 years.

Well, here we are today and the double top pattern is breaking down and Doc Copper is on the ropes. Below is an updated ...



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Chart School

Gold Stocks Review

Courtesy of Read the Ticker

Gold miners do well when gold is higher, and borrowing and gasoline costs are lower.

Lets start with a question: Why do governments own gold?

1) The need it to support their economy during an energy crisis. If their currency is collapsing oil producers will not take fiat for settlement, but they will accept gold.
2) While the US prints money the purchasing power of the US dollar is declining, hence gold is a hedge.

A particular market action which forces traders to move gold higher is when oil moves higher while the US dollar falls. This means the US dollar is losing purchasing power against oil, therefore gold will go higher as the demand for (1) above explodes. Some history, gold moved higher sharply in these years 2007, 2011, 2016, 2020. All ...

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Digital Currencies

Scams and cryptocurrency can go hand in hand - here's how they work and what to watch out for

 

Scams and cryptocurrency can go hand in hand – here’s how they work and what to watch out for

The anonymous nature of cryptocurrency transactions is ideal for con artists. seksan Mongkhonkhamsao/Moment via Getty Images

Courtesy of Yaniv Hanoch, University of Southampton and Stacey Wood, Scripps College

When one of our students told us they were going to drop out of college ...



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Biotech/COVID-19

At last, COVID-19 shots for little kids - 5 essential reads

 

At last, COVID-19 shots for little kids – 5 essential reads

Millions of U.S. children between the ages of 6 months and 4 years will soon be eligible for COVID-19 shots. FatCamera/E+ via Getty Images

Courtesy of Amanda Mascarelli, The Conversation

For many parents of kids under age 5, a safe and effective COVID-19 vaccine could not come soon enough. A full year and a half after shots first became available for adults, their wait is nearly over.

On June 17, 2022, the Food and Drug Administration ...



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Promotions

Phil: Be the House Not the Gambler at the Fintech Conference in Vegas

 

Phil gave an excellent, educational presentation called "Be the House Not the Gambler: Using Stock Options to Significantly Boost Your Portfolio Performance" at the FinTwit Conference hosted by Lupton Capital and Benzinga on May 14 in Las Vegas. The video is set to start playing at 5:30:45, when Phil takes the stage (but you can see previous presentations by backtracking).

AGENDA 
9:00 AM Opening Remarks with Jonah Lupton, Entrepreneur & Investor
9:05 AM Wagging the Dog: How to Profit From Derivative Driven Moves in the Market with Steven Place, Founder, Investingwithoptions.com
10:00 AM The MarketWebs & The Path of Least Resistance, Christian Fromhertz, CEO, The Tribeca Trade Group
10:55 AM Fireside Chat with Gareth Mann, Founder & CEO, AlphaStream & Spencer Israel, Executive Producer, Benzinga
11:25 AM Sponsor Pitch: Carolyn Bao, VP of Marke...



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Mapping The Market

Suez Canal: Critical Waterway Comes to a Halt

 

Suez Canal: Critical Waterway Comes to a Halt

Courtesy of Marcus Lu, Visual Capitalist

The Suez Canal: A Critical Waterway Comes to a Halt

On March 23, 2021, a massive ship named Ever Given became lodged in the Suez Canal, completely blocking traffic in both directions. According to the Suez Canal Authority, the 1,312 foot long (400 m) container ship ran aground during a sandstorm that caused low visibility, impacting the ship’s navigation. The vessel is owned by Taiwanese shipping firm, Evergreen Marine.

With over 2...



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The Technical Traders

Adaptive Fibonacci Price Modeling System Suggests Market Peak May Be Near

Courtesy of Technical Traders

Our Adaptive Fibonacci Price Modeling system is suggesting a moderate price peak may be already setting up in the NASDAQ while the Dow Jones, S&P500, and Transportation Index continue to rally beyond the projected Fibonacci Price Expansion Levels.  This indicates that capital may be shifting away from the already lofty Technology sector and into Basic Materials, Financials, Energy, Consumer Staples, Utilities, as well as other sectors.

This type of a structural market shift indicates a move away from speculation and towards Blue Chip returns. It suggests traders and investors are expecting the US consumer to come back strong (or at least hold up the market at...



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Lee's Free Thinking

Texas, Florida, Arizona, Georgia - The Branch COVIDIANS Are Still Burning Down the House

 

Texas, Florida, Arizona, Georgia – The Branch COVIDIANS Are Still Burning Down the House

Courtesy of Lee Adler, WallStreetExaminer 

The numbers of new cases in some of the hardest hit COVID19 states have started to plateau, or even decline, over the past few days. A few pundits have noted it and concluded that it was a hopeful sign. 

Is it real or is something else going on? Like a restriction in the numbers of tests, or simply the inability to test enough, or are some people simply giving up on getting tested? Because as we all know from our dear leader, the less testing, the less...



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Insider Scoop

Economic Data Scheduled For Friday

Courtesy of Benzinga

  • Data on nonfarm payrolls and unemployment rate for March will be released at 8:30 a.m. ET.
  • US Services Purchasing Managers' Index for March is scheduled for release at 9:45 a.m. ET.
  • The ISM's non-manufacturing index for March will be released at 10:00 a.m. ET.
  • The Baker Hughes North American rig count report for the latest week is scheduled for release at 1:00 p.m. ET.
...

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About Phil:

Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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About Ilene:

Ilene is editor and affiliate program coordinator for PSW. Contact Ilene to learn about our affiliate and content sharing programs.