Category Archive: Finance
Goldman Says Hurricane Harvey Will Reduce Q3 GDP; JPMorgan Says It Will Boost It
There are still two to three days before the peak flooding – and damage – in Houston arrives, yet already Wall Street is trying to calculate how much the worst natural disaster in decades befalling the 4th largest American city will impact US GDP. Or rather boost it, because in two notes out late in […]
Deep Purple
Podcast: Play in new window | Download (Duration: 13:15 — 7.6MB) DOW – 5 = 21,808 SPX + 1 = 2444 NAS + 17 = 6283 RUT + 4 = 1382 10 Y – .01 = 2.16% OIL – 1.06 = 46.81 GOLD + 18.70 = 1310.50 Top Cryptocurrencies Name Symbol Market Cap Vol. Total Vol. % Price […]
Harvey Sinks Oil Prices, Stocks, & ETFs, Sends Gas Prices Higher
Hurricane Harvey sunk U.S. crude prices by 2.44% on Monday after the massive storm forced closures at multiple refiners in the Gulf of Mexico. Harvey, which began last Friday and caused devastating floods in the Houston area, helped send oil prices lower on Monday. U.S. crude oil futures closed at roughly $46.70 a barrel, their lowest […]
Gold Approaching Neckline Of Reverse Head & Shoulders
It looks like a a massive reverse Head & Shoulders formation could play out nicely if Gold can break and hold above its neckline (and converging 40% Fibonacci retracement level) around 1376, as shown on the Monthly chart below. Longer term, we could see an eventual run up to converging major price and 60% Fib retracement resistance around 1600. Watch for, […]
Ka-BOOM!
I don’t think there’s ever been a single stock I’ve suggested as a short more than Finish Line (FINL). My poor tastytrade viewers probably got sick to death of hearing about it, but it’s one of the most amazing topping patterns I’ve ever seen, and given how far it’s fallen, I doubt anyone’s bitching about […]
Bullish Trade Setups That I Am Following This Week
Such a dull market. If you are losing your mind watching the ticks, go outside, take a walk, and come back in. You probably won’t miss anything. Since the gap higher, the bears are trending this market lower, but very slowly, and without any enthusiasm. I have a slight, short bias towards this market right […]
Grocery Stocks Sink On First Day Of Amazon & Whole Foods Merger
Shares of several grocery store chains, including Kroger and Sprouts Farmers Market, dipped on Monday after Amazon’s (AMZN – Free Report) acquisition of Whole Foods (WFM – Free Report) officially went into effect. The online retail giant’s $13.7 billion purchase of the organic grocer helped send rival grocery chains stocks plummeting last week after the FTC approval was finalized. […]
Safe Bulkers – Chart Of The Day
The Chart of the Day belongs to Safe Bulkers (SB). I found the dry bulk shipping stock by using Barchart to sort today’s Top Stocks to Own list by the highest Weighted Alpha. The Top Stocks to Own list has stock with the highest signal rating for both strength and direction and the Weighted Alpha ranks the stocks by weighted Alpha […]
Deja Vu
According to orthodox theory, if interest rates are falling because of term premiums then that equates to stimulus. Term premiums are what economists have invented so as to undertake Fisherian decomposition of interest rates (so that they can try to understand the bond market; as you might guess it doesn’t work any better). It is, […]
Wells Fargo Sees Little Chance Of Higher Bid For Kite Pharma
The price paid by Gilead Sciences (GILD) “more than adequately” reflects potential value from Kite Pharma’s (KITE) AxiCel and adoptive cellular therapy pipeline, Wells Fargo analyst Jim Birchenough tells investors in a research note. The analyst sees “little chance” of a higher offer or a price bump by Gilead. He raised his price target for […]
