Nike Comes Full Circle, Like LeBron

01Jul10:29 amEST

Recalibrating the Strength in Miners

Plenty of miners, precious and otherwise, have continued to build on their strength in 2016 after the latest Brexit selloff and subsequent V-shaped recovery. Silver miners have been notably ferocious to the upside, with some gold miners like KGC trying to come from behind and play catch-up this morning. Teck Ressources is a materials miner we...

30Jun3:48 pmEST

Not So Fast, My Friends

If there were ever a market which would make Lee Corso proud, it is this one. Not only is the Brexit now actively being discussed for the potential to be "walked back," but HSY rejected the earlier MDLZ buyout bid. And, of course, the limit down move in the futures just about one week ago is close to being completely recaptured. Such is life...

30Jun1:03 pmEST

Another Take on the Hershey Buyout

Hershey's stock surged to new all-time highs today on a Wall Street Journal report about a MDLZ buyout bid. I suspect Milton Hershey would be proud of the strategy, should the deal go through for a few reasons. MDLZ agreed to change its name to Hershey and keep all of the jobs in Pennsylvania, even moving its own workers to Hershey, PA. But...

30Jun10:53 amEST

Discussing the Morning Action

Several prominent consumer names, such as F HD LVS V, are all bear-flagging on daily timeframes and in the red as I write this. However, with the indices still drifting up and intraday pullbacks being bought up by eager dip-buyers who no doubt feel emboldened about the lack of a post-Brexit bonafide crash, I suspect holding off on pressing...

29Jun4:36 pmEST

Stock Market Recap 06/29/16 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening to members of Market Chess Subscription Services. In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets. If you enjoy my videos and blog posts, then please...

29Jun3:44 pmEST

A False Sense of Safety

The lurch toward U.S. Treasuries after the Brexit fallout may prove to have been simply just that--An emotional knee-jerk reaction which is soon short-lived. Recall that the market in recent months has been putting the Fed to the test, exposing Yellen and company for being mostly controlled by market movements rather than a clear-cut plan...

29Jun1:08 pmEST

Gobbling Up the Oil Spill

After inventory this morning, it is impressive to see crude oil continuing to rally. On the USO ETF daily chart, below, note Black Gold recapturing the 200-day moving average. With this in mind, I continue to look to see if TLT will fade its post-Brexit rally, as USO and TLT can often move in different direction. And energy leader XOM is...

29Jun10:54 amEST

Look But Don't Touch

As tempting as it may be to try to time a rollover in the market after the post-Brexit bounce, observing the QQQ hourly chart, below, we can see there is some room to move up to just below $106.40 before one would get more serious about potential supply. Even then, there is the prospect of the long, patriotic holiday summer weekend, end of...

28Jun4:37 pmEST

Stock Market Recap 06/28/16 {Video}

The following video is a brief, condensed version of the Stock Market Recap which I present each evening to members of Market Chess Subscription Services. In the longer version, I offer tons of actionable trade ideas, educational content, and in-depth objective analysis across all markets. If you enjoy my videos and blog posts, then please...

28Jun3:35 pmEST

Nike Comes Full Circle, Like LeBron

Not too long ago, Nike signed LeBron James to a lifetime deal rumored to be worth more than $1 billion. Ironically, NKE's stock may have played a similar role LeBron did over the last six years or so in Cleveland--From hero, to villain, back to hero. Nike was a clear consumer hero for years on end, with an explosive and unstoppable bull trend...