Posts Tagged ‘ZION’

Bullish Options In Play At Spirit AeroSystems

Today’s tickers: SPR, MCO & ZION

SPR - Spirit AeroSystems Holdings, Inc. – Shares in the manufacturer of commercial aircraft structures and components rallied 3.3% to $23.72 this morning on the heels of Alcoa’s positive earnings surprise and improved outlook for the global aerospace industry. Spirit appears to have received a vote of confidence from one strategist selling a large block of October expiry put options. It looks like the trader sold 3,145 puts at the Oct. $20 strike to pocket premium of $0.85 apiece. The put seller walks away with the full amount of premium in pocket as long as Spirit’s shares exceed $20.00 at expiration in six months. Options volume on Spirit AeroSystems today is higher than usual given the stock’s 90-day average volume of 104 contracts and an overall open interest reading of approximately 8,190 existing positions.

MCO - Moody’s Corp. – A sizable put spread initiated on ratings agency, Moody’s Corp., this morning indicates one strategist may be looking for shares in the name to pull back ahead of May expiration. Moody’s Corp.’s shares, which last week touched a new 3-year high of $43.05, are up 2.6% today at $41.83 and 21.5% year-to-date. The put spread on MCO may be the work of an investor taking an outright bearish stance on the stock, or, alternatively, employing a protective strategy to hedge a long position in the shares, ahead of the Company’s first-quarter earnings report on April 26th. The trader appears to have purchased a 1,950-lot May $37/$40 put spread for a net premium of $0.58 per contract. Profits or downside protection kick in should shares in Moody’s drop 5.8% to breach the effective breakeven price of $39.42, while maximum possible gains of $2.42 per contract are available in the event that shares plunge 11.5% to…
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Pre-Announcement Jitters Spark Action In Starbucks Options

Today’s tickers: SBUX, CCL & ZION

SBUX - Starbucks Corp. – Fresh record highs may be on the horizon for Starbucks Corp., according to some strategists populating the coffee retailer’s options this morning. The stock today reached its highest level since the Company’s IPO in 1992, rallying 2.5% to $50.75 in the first half of the trading session. Options on Starbucks are more active than usual today ahead of the Company’s announced 5:00 p.m. (PT) conference call to discuss a new initiative in the single-cup serving category. Bullish positions are building in the front month calls, with more than 3,800 contracts changing hands at the Mar. $52.5 strike against open interest of 146 contracts. It looks like most of the $52.5 calls were purchased for an average premium of $0.12 a-pop, positioning buyers to profit at expiration next week in the event that Starbucks shares increase another 3.7% to top the average breakeven price of $52.62. Volume in the April $52.5 and July $52.5 strike calls is on the rise, as well. Buyers of the options this morning paid average premiums of $0.65 and $1.90 apiece, respectively, eyeing the stock’s upside potential over the next several months. Meanwhile, traders dabbling in SBUX puts may be locking in gains and establishing downside protection, or are perhaps taking outright bearish positions on the coffee company in the view that shares may cool in the near term.

CCL - Carnival Corp. – Options on Carnival Corp. are humming with activity this morning ahead of the cruise operator’s first-quarter earnings report on Friday before the open. Shares in CCL are up 1.6% today at $30.91 heading into earnings. The stock got off to a good start in 2012, rising up to $35.14 – the highest since the end of October – back on…
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Option Trader Closes out Bull Position in Homebuilder as Rally Bites

 Today’s tickers: KBH, BAC, LNG & ZION

KBH - KB Home – With markets in buoyant mood to start a New Year, investors continue to buy into the homebuilding sector. On Friday we noted bullish options activity on Toll Brothers and today with homebuilders up once more we’ve picked up on the rewards one investor is cashing in on in today’s activity on fellow sector member, KB Home. On September 17 we reported how an investor was loading up for a more-than 25% rise in shares at KB Home by using a January expiration call spread. At the time its share price stood at $11.35 while the investor bought $14 strike calls selling those at the $16 strike at the same time. In doing so the investor reduced the cost of placing a bullish bet from 50-cents to 35-cents. Fast-forward to today’s optimistic trading and shares in KB Home have rallied a further 5% today to stand at $14.25 allowing the investor to shed the now in-the-money $14 calls for 60-cents for a nice return 42% return. The investor isn’t yet out of the woods though and assumes the risk of a further rally in the stock to the $16 strike price where the short call position rests. In all likelihood those calls will expire worthless but the options market teaches us to never say never. The chances of these calls landing in-the-money within three weeks currently stand at one-in-five.

BAC - Bank of America Corp. – As ever, options activity in BoA is sky-high. Today there is at least some fundamental news to drive the frenzy. The nation’s largest bank by assets said its fourth quarter earnings would include a $2 billion impairment charge and a further provision of $3 billion following a settlement on its dispute over allegedly selling loans to Fannie and Freddie, the two behemoths acting as government sponsored entities in the nation’s mortgage market. Shares in the lender rose around 5% to $14.00. Options activity in the January 2012 contract exhibited…
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Tech Wreck Tuesday – IBM and TXN “Disappoint”

Wheeeee – this is fun!

Well, it’s fun when you have disaster hedges anyway.  I already sent out an Alert to Members this morning reminding them that there’s no point in having disaster hedges if you don’t use that money to buy on the dips, though.  Yesterday we added downside, leveraged plays on SDS (2) and DXD and our focus short was on NFLX (last week it was MA, and that went very well) along with our usual DIA Mattress play.  That shifted us a bit negative as we failed to hold our watch levels and now we are sadly looking all the way down to those low closes of:  Dow 9,686, S&P 1,022, Nasdaq 2,081, NYSE 6,434, Russell 590, SOX 332 and Transports 1,905 as a possible re-test if things get really ugly.  

On July 3rd I laid out "5 Plays that Make 500% if the Market Falls" and, fortunately, we didn’t need them as we took off on Monday but they are still good plays and a little cheaper now than they were when we last tested our bottoms.  If you are not well-protected – I strongly suggest you read this post and at least be ready to initiate a hedge if we can’t turn this morning around.  As with most day’s lately – it’s all about copper and the $3 line…   

That being said, I do think we will turn this morning around eventually - because IBM is down $7 and the Dow moves about 8 points per $1 of component value so that’s hitting the Dow for 56 points all by itself.  IBM’s earnings were great but revs missed, in large part due to currency issues.  BRIC revenues were up 22% for the company, despite the crap exchange rate. 

TXN got whacked too on their report that profits nearly tripled on a 42% jump in revenues (not kidding).  "Demand has continued very solid and very broad-based," said Ron Slaymaker, the company’s vice president of investor relations.

Mr. Slaymaker said the biggest positive surprise in the period was stronger demand from companies that buy industrial equipment, which have rebounded much slower than consumers from the recession. One notable area of weakness, he added, was sales of chips used in cellphones. TI has long been a major supplier to handset-maker Nokia Corp., which in June lowered its second-quarter forecast.

The company reported net income for the period ended


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Large Put Play Reflects Investor Optimism on General Electric Co.

Today’s tickers: GE, XLE, DOW, BP, SKX, IYR, ZION, RIG, AA & NTRI

GE – General Electric Co. – Shares of diverse conglomerate, General Electric Company, slipped 3.85% during afternoon trading to stand at $18.52 with one hour remaining in the session. Although a great deal of bearish activity took place on GE today, there was one sizeable contrarian options play on the stock that stuck out like a sore thumb. One investor, who apparently does not anticipate an all-out collapse in the price of the underlying stock, shed 19,000 puts at the December $14 strike to pocket a premium of $0.52 per contract. The trader keeps the full amount of premium received on the put sale, which adds up to a grand total of $988,000.00, as long as GE’s shares trade above $14.00 through expiration day in December. The investor receives the premium in exchange for bearing the risk that shares of the underlying stock do not exceed $14.00 through expiration. If the December $14 strike puts land in-the-money at expiration, the trader is apparently willing to have 1.9 million GE shares put to him at an effective price of $13.48 apiece. Shares would need to plummet 27% from the current price of $18.52 before the put-seller starts to amass losses beneath the breakeven share price of $13.48. Options implied volatility on General Electric Co. is up 15% to 31.94% ahead of the closing bell.

XLE – Energy Select Sector SPDR ETF – Two options strategies representing opposing sentiment on future share price moves for the XLE were enacted today in the June contract. One of the transactions, a ratio call spread, is bullish and positions one investor to benefit should shares of the underlying fund rally sharply by expiration. The other trade, a short straddle, yields maximum benefits to the responsible party if shares settle at $59.00 by expiration. Shares of the XLE, an exchange-traded fund that seeks investment results which correspond to the price and yield performance of the Energy Select Sector of the S&P 500 Index, fell 2.75% to $58.93 as of 3:15 pm (ET). The bullish trader responsible for the ratio call spread purchased 3,500 calls at the June $61 strike for an average premium of $1.36 apiece, and sold 7,000 calls at the higher June $64 strike for roughly $0.49 apiece. The net cost of the ratio spread amounts to $0.38 per contract, and…
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Gold-Bull Buys Call Spread on Newmont Mining Corp.

Today’s tickers: NEM, EWZ, ZION, JCP, PCX, TSL, NTRI, TIVO, SQNM & KR

NEM – Newmont Mining Corp. – Shares of the gold mining company are up 2.90% to $51.74 this afternoon as gold stocks across the board rallied along with the price of the previous metal. Newmont’s shares recovered significantly since reaching a low point for the year 2010 of $42.87 back on January 29, 2010. The current price per NEM share of $51.74 represents an impressive 20.65% rally over its January low of $42.87. One options trader populating our screens today expects the good times at Newmont Mining to continue through March expiration. The investor purchased a debit call spread by picking up 5,000 calls at the March $55 strike for a premium of $0.52 apiece, marked against the sale of 5,000 calls at the higher March $57.5 strike for $0.17 each. The net cost of the transaction amounts to $0.36 per contract. The trader is prepared to pocket maximum potential profits of $2.14 per contract should Newmont’s shares rally another 11.15% to $57.50 by expiration day. Shares of the underlying stock must increase at least 7% from the current price in order for the call-spreader to breakeven on the trade at $55.36 per share.

EWZ – iShares MSCI Brazil Index ETF – Bearish options positioning on the Brazil exchange-traded fund, which generally reflects the price and yield performance of securities in the Brazilian market as measured by the MSCI Brazil index, indicates one investor is bracing for a pull back in the price of the underlying shares by April expiration. Shares of the underlying fund are trading 1.85% higher to $70.97 with approximately forty-five minutes remaining in the session. The trader sold 10,000 calls at the April $72 strike for a premium of $2.55 apiece in order to partially offset the cost of purchasing 10,000 put options at the lower April $70 strike for $2.73 each. The investor paid a net premium of $0.18 per contract for the bearish risk reversal transaction. The pessimistic play yields profits to the trader if shares of the EWZ trade beneath the breakeven price of $69.82 ahead of expiration in April. We note that shares traded as low as $62.79 on February 8, 2010, and failed to rally above $70.00 until the current session’s breakout.

ZION – Zions Bancorp. – A bullish options player celebrated the 2.80% rally in ZION’s share…
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Vanda-Pharm Receives a Dose of Covered Call Selling

Today’s tickers: VNDA, PFE, S, ZION, GDX, PBR, BSX, AIG & PEP

VNDA – Vanda Pharmaceuticals, Inc. – The biopharmaceutical company, which specializes in the development of drug candidates for central nervous system disorders, attracted covered call selling in afternoon trading. It looks like one bullish individual purchased shares of the underlying stock in combination with the sale of 10,000 calls at the September $12.5 strike for an average premium of $1.13 per contract. Vanda’s shares – at the time of the transaction – were trading at $10.80 apiece. Thus, the investor effectively paid a net $9.67 per share because of the financing provided by the sale of the call options. The covered call strategy positions the investor to accumulate maximum potential profits of 29.25% if Vanda’s shares rally above $12.50 by expiration in September. This is because the short call stance provides an exit strategy for the trader which dictates gains of 29.25% on the appreciation in value of the underlying shares from the purchase price of $9.67 up to the $12.50 price at which the shares will be called from him – should the calls land in-the-money – at expiration in seven months. Vanda is scheduled to reveal its fourth-quarter earnings report before the opening bell on Tuesday February 16, 2010.

PFE – Pfizer, Inc. – Shares of the global pharmaceutical company commenced the current session in the red, but rallied in afternoon trading, rising 0.85% to $17.89 with forty-five minutes remaining in the trading day. Long-term optimistic trading patterns emerged in the January 2012 contract where one investor initiated a bullish risk reversal on the stock. It looks like the trader sold 5,000 puts at the January 2012 $17.5 strike for a premium of $3.20 each in order to purchase 5,000 calls at the same strike for $2.60 apiece. The investor pockets a net credit of $0.60 per contract on the reversal play, which he keeps in his piggy bank if Pfizer’s shares trade above $17.50 through January 2012 expiration. Additional profits amass to the upside as shares increase above the stated strike price of $17.50.

S – Sprint Nextel Corp. – Massive strangles plays on the communications company today indicate investors expect shares of the underlying stock to remain range-bound through expiration in May. Sprint’s shares fell significantly yesterday afternoon and continued lower by 2% to $3.28 today following disappointing fourth-quarter sales, which fell 6.7% to…
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Iron Condor Nesting in Brazil Index ETF

Today’s tickers: EWZ, CVX, WFC, GFI, SU, MA, ZION, DAL, AMAG & JWN

EWZ – iShares MSCI Brazil Index ETF – An iron condor options strategy employed in the February contract on the EWZ implies one investor expects the underlying share price of the fund to stagnate ahead of expiration in two weeks. Shares of the exchange-traded fund, which generally correspond to the price and performance of publicly traded securities in the Brazilian market, are down 5% today to $64.37. Today’s decline merely adds salt to the wounds – The Brazil index ETF has taken a severe beating in the past few months, falling 20.5% since attaining a 52-week high of $80.93 back on December 3, 2009. The iron condor, a strategy utilized by option traders anticipating little movement in the underlying share price, is perhaps one investor’s way of indicating the worst is over and a bottom is close at hand. The iron condor’s construction is essentially the combination of two strangles, or alternatively can be thought of as two credit spreads. On the call side, the investor pockets a net credit of $0.09 per contract by selling 10,000 calls at the February $71 strike for $0.13 apiece, spread against the purchase of 10,000 calls at the higher February $74 strike for $0.04 each. As for the puts, the trader receives a net credit of $0.26 per contract on the sale of 10,000 puts at the February $59 strike for $0.44 each, marked against the purchase of 10,000 puts at the lower February $56 strike for $0.18 apiece. Therefore, the combined credit enjoyed on the iron condor amounts to $0.35 per contract. Maximum retention of the $0.35 credit, or total monetary profits of $350,000, is contingent upon the underlying share price at expiration. EWZ shares must trade within a range of $59.00 to $71.00 in order for the investor to walk away with maximum profits. The investor holding the iron condor is exposed to significant losses if his ‘neutral’ prediction is wrong. Maximum loss potential on the transaction of $2.65 per contract is far greater than the $0.35 credit received for undertaking such risk. But, apparently this trader is confident that shares of the underlying stock will move sideways – at least through February expiration. Perhaps this confidence stems from the fact that losses do not amass to the upside unless shares rebound 10.85% to surpass the upper breakeven…
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Options Trader Plants Bearish Augury on Oracle

Today’s tickers: ORCL, SKX, EEM, TM, ZION, DHI, BBBY, RL, MCD & MYGN

ORCL – Oracle Corp. – A massive bearish transaction on software manufacturer, Oracle Corp., paints a gloomy picture for Oracle investors through expiration in June. Shares are trading 0.15% lower on the day to $23.73 with just under two hours remaining in the trading session. The pessimistic portent is a bearish risk reversal transacted in the June contract on the stock. The trader responsible for the reversal sold 34,700 calls at the June $24 strike for an average premium of $1.37 each in order to offset the cost of purchasing 34,700 put options at the lower June $23 strike for $1.24 premium apiece. A net credit of $0.13 per contract pads the investor’s wallet as long as the June $24 strike call options remain out-of-the-money through expiration day. Additional profits, or downside protection on a long stock position, kick in if shares of the underlying trade under $23.00 ahead of June expiration.

SKX – Sketchers USA, Inc. – Street and fashion footwear design firm, Sketchers USA, received a vote of confidence by a bullish options player today despite the 4.25% decline in shares of the underlying stock to $28.54. The investor etched optimism into the July contract on Sketchers by utilizing the ratio call spread strategy. The trader purchased 1,500 calls at the July $30 strike for a premium of $3.00 apiece, spread against the sale of 3,000 calls at the higher July $40 strike for an average premium of $0.60 each. The net cost of the transaction amounts to $1.80 per contract. In the next six months to expiration, SKX-shares must rally 11.40% from their current value in order for the investor to breakeven at a share price of $31.80. Maximum potential profits of $8.20 per contract accumulate should shares explode 40% higher to $40.00 ahead of expiration in July.

EEM – iShares MSCI Emerging Markets Index ETF – An enormous bullish bet on the EEM today implies one investor is positioning for a 5%-11.25% rebound in global markets by March expiration. Shares of the emerging markets exchange-traded fund, which was developed by MSCI as an equity benchmark for international stock performance, dipped slightly lower by 0.20% during the current session to $39.55. Optimism on the fund came in the form of a large-volume call spread in the March contract. The trader responsible for the transaction…
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Weekend Wipe Out – All the Way Back to Mid-November Lows!

Well I hate to say I told you so but

No wait, that's nonsense – what market prognosticator doesn't love to say "I told you so"?  Actually, it's kind of my job to tell you so and the reason I'm so popular is because, more often than not, when I tell you so, I tend to be right.   I'm not right all the time and my single biggest flaw is I am often right but sometimes way too early and timing is EVERYTHING in the markets.  It's not good enough to tell you what is going to happen (give things enough time and everything happens eventually, right Cramer?) - I need to get the period right as well so we can turn it into an actionable trading idea that makes money

As a fundamentalist, I didn't like the entire last 500 points of the rally.  I had predicted the market would finish the year at 10,200 way back when it was down at 8,650 when the idea was we'd have a Santa Clause rally to 20% (10,380) and then a 20% pullback of that run (346) into Jan earnings that would take us back to 10,034 so the entire run from 10,200 to 10,700 REALLY annoyed me.  It didn't annoy me just because it made me wrong – I'm wrong a lot and I'm old enough to have learned how to deal with it.  What annoyed me was the manipulation as, clearly, the fundamentals in no way, shape or form justified the additional 5% move up. 

I've gone on and on about how fake the move was and how manipulated the markets were and how artificial the support was and I think I've pulled out the Seinfeld "fake, Fake, FAKE" clip often enough now that I don't even have to do a link (but I love it, so I do) or explain how it's a metaphor for recent market activity so I'm not going to waste our valuable time here.  Let's just do a review of the recent action, which is my best way of preparing for the upcoming Members only post where I'll be charting out new levels and coming up with action plans for the week ahead. 

So don't read this if you can't stand to hear "I told you so" because this is the review post and I did tell you so!

When did
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Chart School

Price and Volume Swing Analysis on Bitcoin and Silver

Courtesy of Read the Ticker

Many take guidance from news, pundits or advisors. Well sometimes the swings of price and volume are a better measure of what happens next.

The big boys do not accumulate or distribute in single 1 second trade, they build positions over weeks, months and years. They use price swings in the market to build or reduce positions, and you can see their intent by studying swings of price and volume and applying Tim Ord logic as written in his book called 'The Secret Science of Price and Volume: Techniques for Spotting Market Trends, Hot Sectors, and the Best Stocks'.

Tim Ord is a follower of Richard Wyckoff logic, his book has added to the studies of Richard Wyckoff, Richard Ney and Bob Evans.

Richard Wyckoff after years of...

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Phil's Favorites

60/40 is Dead. Again.

 

60/40 is Dead. Again.

Courtesy of 

Doing nothing has been one of the best strategies of the last few decades.

I’m talking about the tried and true 60/40 portfolio. 60% stocks. 40% bonds. You had to rebalance, so not exactly nothing, but as close to it as you can get.

Nothing and easy, however, aren’t the same thing. You had to sit through multiple 50% crashes in the stock market. You had to sit on your hands during periods where “everyone” was getting rich. On the spectrum of easy to impossible, doing “nothing” is closer to the latter.

How many people can stay the course for multiple decades? The investor’s principal challenge is to fight the urge to de-risk in a bear market and add risk in a bul...



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Zero Hedge

Ethereum's Turn To Outshine Bitcoin Is Coming, UBS Says

Courtesy of ZeroHedge View original post here.

After a stellar start to the year, which saw its price soar to an all time high above $4,100, trouncing virtually all of its crypto peers, Ethereum has stagnated in recent weeks, with its place in the spotlight taken by bitcoin whose impressive outperformance has been the result of now confirmed speculation that a bitcoin futures ETF is coming. It also meant that what has traditionally been a close correlation between the two largest cryptos has broken in favor of the larger peer; it would also suggest that ethereum is trading about $1000 cheap vs bitcoin.

...



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Digital Currencies

Ethereum's Turn To Outshine Bitcoin Is Coming, UBS Says

Courtesy of ZeroHedge View original post here.

After a stellar start to the year, which saw its price soar to an all time high above $4,100, trouncing virtually all of its crypto peers, Ethereum has stagnated in recent weeks, with its place in the spotlight taken by bitcoin whose impressive outperformance has been the result of now confirmed speculation that a bitcoin futures ETF is coming. It also meant that what has traditionally been a close correlation between the two largest cryptos has broken in favor of the larger peer; it would also suggest that ethereum is trading about $1000 cheap vs bitcoin.

...



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Politics

Steve Bannon faces criminal charges over Jan. 6 panel snub, setting up a showdown over executive privilege

 

Steve Bannon faces criminal charges over Jan. 6 panel snub, setting up a showdown over executive privilege

Defiant or following Trump’s direction? John Lamparski/NurPhoto via Getty Images

Courtesy of Kirsten Carlson, Wayne State University

The House committee investigating the Jan. 6 attack on the U.S. Capitol is tasked with providing as full an account as possible of the attempted insurrection. But there is a problem: Not everyone is cooperating.

As of Oct. 14, 2021, Steve Bannon, a one-tim...



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Biotech/COVID-19

Ivermectin is a Nobel Prize-winning wonder drug - but not for COVID-19

 

Ivermectin is a Nobel Prize-winning wonder drug – but not for COVID-19

While ivermectin was originally used to treat river blindness, it has also been repurposed to treat other human parasitic infections. ISSOUF SANOGO/AFP via Getty Images

Courtesy of Jeffrey R. Aeschlimann, University of Connecticut

Ivermectin is an over 30-year-old wonder drug that treats life- and sight-threatening parasitic infections. Its lasting influence on global health has been so profound...



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Promotions

Phil's Interview on Options Trading with TD Bank

TD Bank's host Bryan Rogers interviewed Phil on June 10 as part of TD's Options Education Month. If you missed the program, be sure to watch the video below. It should be required viewing for anyone trading or thinking about trading using options. 

Watch here:

TD's webinar with Phil (link) or right here at PSW

Screenshots of TD's slides illustrating Phil's examples:

 

 

&n...



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Kimble Charting Solutions

Crude Oil Cleared For Blast Off On This Dual Breakout?

Courtesy of Chris Kimble

Is Crude Oil about to blast off and hit much higher prices? It might be worth being aware of what could be taking place this month in this important commodity!

Crude Oil has created lower highs over the past 13-years, since peaking back in 2008, along line (1).

It created a “Double Top at (2), then it proceeded to decline more than 60% in four months.

The countertrend rally in Crude Oil has it attempting to break above its 13-year falling resistance as well as its double top at (3).

A successful breakout at (3) would suggest Crude Oil is about to mo...



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ValueWalk

Managing Investments As A Charity Or Nonprofit

By Anna Peel. Originally published at ValueWalk.

Maintaining financial viability is a constant challenge for charities and nonprofit organizations.

Q4 2020 hedge fund letters, conferences and more

The past year has underscored that challenge. The pandemic has not just affected investment returns – it’s also had serious implications for charitable activities and the ability to fundraise. For some organizations, it’s even raised doubts about whether they can continue to operate.

Finding ways to generate long-term, sustainable returns for ...



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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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