Monthly Archives: October 2019

Showing articles 11 - 20 (34 total)

22Oct10:51 amEST

Biogen Changing Just in Time

After large cap biotechnology stock Biogen resurrected its Alzheimer’s drug during its earnings beat this morning, the stock is higher by roughly 30% as I write this. Considering we are talking about a firm with a market cap over $50 billion, this is a rather unique move.  As it pertains to the biotechs as a whole, keying off the IBB and XBI...

21Oct3:47 pmEST

More Ways to Fall in Love

Just a quick follow-up into the bell today with our working thesis that energy stocks and materials are putting in a long-term bottom: We have crude oil lower on global demand concerns (or at least that is the reason provided by CNBC).  However, energy stocks themselves are higher, with the OIH ETF (oil service and equipment stocks) up 3.5% as...

21Oct9:53 amEST

Early Analysis of the Small Caps

"They've got tremendous moxie for their size." "Tell me about it. IWM is a fighter."   Small caps are out of the gate impressively this morning. However, at the risk of throwing cold water on the party, note that software names like COUP MDB NOW OKTA TEAM WDAY are all red again (or flattish) and still cannot even muster a bounce after...

18Oct3:47 pmEST

Gliding All Over

For better or worse, I elected to lock in some modest wins with recent trades and move to full cash into the weekend.  After some choppy and sloppy trading in recent weeks and even months, my thinking is to get back into the habit of taking down wins as long as the market is not in a silky smooth trend higher. And given the harsh selling we saw...

17Oct9:24 amEST

Make Yourself at Home

The housing sector continues to thrive to little fanfare, with homebuilders front and center in the ITB and XHB sector ETFs. Beyond some well-known builders like DHI KBH PHM are lesser-known but high quality ones like LGIH MDC SKY, among many others. For a while now, we have been tracking the relative and absolute strength in this sector both...

16Oct10:52 amEST

A Nap; Just Not a Dirt Nap

Software growth names are back in the doghouse this morning, be it due to a NOW downgrade or simply sellers reasserting themselves in the likes of AYX COUP MDB RNG SPLK WDAY, among others.  Clearly, when we see these growth stocks come back under pressure it gives us pause regarding the potential for an imminent move to new highs in the broad...

15Oct5:00 pmEST

Stock Market Recap 10/15/19 {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...

15Oct11:05 amEST

Getting Un-Zuck

The large cap, glamorous "FANG" stocks in tech (Alphabet, Amazon, Facebook, Netflix) have been "stuck" in the mud of this market for months, regardless of how well Alphabet's chart has held up and been acting (in fact, GOOGL is my horse in this race and has been for a while).  Even with GOOGL exuding impressive relative strength to, say, NFLX,...

14Oct10:46 amEST

Tesla's Chart on Autopilot

It has been a while since we checked in on shares of Tesla, Inc. Elon Musk's idiosyncrasies notwithstanding, the long-term chart for TSLA is actually rather anti-climactic in its action in recent quarters.  On the first monthly chart, below, we can see as much, with corrections below $200 finding buyers for years now. On the other hand, rallies...

11Oct11:37 amEST

The Energy/Materials Bear Market is Dead; Long Live the Commodity Bear

It is hard to fathom that Exxon-Mobil, a Dow component with a $293 billion market cap, is trading at a level now that it was during the depths of the 2008 bear market. But that is where we are, not just with XOM, of course, but looking across the entire energy complex (OIH, XLE, XOP ETFs) as well as most miners/materials, precious and otherwise...

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