Crude’s Fallen Arches
Mar 15, 2016
Jeremy Parkinson
Finance
Good morning, everyone,. I’m pleased to be back in Palo Alto and surrounded by my monitors again. I’m particularly delighted to see so much red on the screen, even though, based on last Friday’s knitting-needles-through-eyeballs insanity, I’m waiting for the proverbial other shoe to drop (or shall I say other shoe to float up in […]
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Best & Worst Large Caps To Buy – March 15, 2016
Mar 15, 2016
Jeremy Parkinson
Finance
The best large cap sectors are utilities and industrials. The highest scoring large cap industry is semi equipment & materials. The average large cap score is 62.21 and that’s above the four week moving average score of 60.23. The average large cap stock in our coverage is trading -20.9% below its 52 week high, 0.42% […]
Death Crosses Are Often Golden And Golden Crosses Are Often Deathly
Mar 15, 2016
Jeremy Parkinson
Finance
A “death cross” is when the 50-day moving average (MA) goes from above to below the 200-day MA. According to conventional wisdom death crosses are bearish, but they often occur near short-term price lows and therefore tend to be bullish. For example, over the past 5 years the S&P 500 Index (SPX) has experienced three […]
Gilead Stops Six Clinical Trials For Cancer Medicine Zydelig
Mar 15, 2016
Jeremy Parkinson
Finance
The FDA yesterday alerted health care professionals about reports of an increased rate of adverse events, including deaths, in clinical trials with the cancer medicine Zydelig in combination with other cancer medicines. Gilead Sciences (GILD) has confirmed that it is stopping six clinical trials in patients with chronic lymphocytic leukemia, small lymphocytic lymphoma and indolent […]
Bear Market Rally Fizzles: Global Stocks Down On BOJ Disappointment; Oil Slides For 2nd Day
Mar 15, 2016
Jeremy Parkinson
Finance
Was that it for the great February/March bear market rally? After soaring by 200 S&P point from the February 11 lows, the S&P 500 appears to have finally hit a resistance at a point where GAAP P/E is now a frothy 23x, and where even Goldman says the S&P500 is overvalued based on conventional market […]
WTI Crude Oil And Natural Gas Forecast – 3/15/2016
Mar 15, 2016
Jeremy Parkinson
Finance
WTI Crude Oil The WTI Crude Oil markets fell on Monday as the market is starting to run out of steam. The $38 level seems to be rather resistive, and it seems to extend all the way to at least the $40 handle above. Remember, US shale oil producers have suggested that they will flood […]
Freeport-McMoRan: Liquidity Analysis And Implications
Mar 15, 2016
Jeremy Parkinson
Finance
Analysis Overview – Freeport-McMoRan (NYSE: FCX) has surged by 167% in the last two months and the rally can sustain if the company is successful in its deleveraging initiative through sale of assets. This article analyzes the potential cash inflow and outflow for the next 24 months to conclude that there are reasons to remain […]
Morning Call For March 15, 2016
Mar 15, 2016
Jeremy Parkinson
Finance
OVERNIGHT MARKETS AND NEWS Jun E-mini S&Ps (ESM16 -0.56%) are down -0.50% and European stocks are down -0.71% as a slide in commodity prices drags down raw material and energy producing stocks. Freeport-McMoRan is down over 5% in pre-market trading as the price of gold drops to a 1-1/2 week low and Schlumberger Ltd. SLB is down over 1% in […]
Iphone Demand For March Quarter Ahead Of Expectations, Says Morgan Stanley
Mar 15, 2016
Jeremy Parkinson
Finance
Apple (AAPL) iPhone demand for the March quarter is ahead of expectations, says Morgan Stanley Morgan Stanley analyst Katy Huberty. Huberty reported that the firm’s iPhone Tracker, which is based on sell-through data, implies demand for 56.5M iPhones in the March quarter, which she notes is “far ahead” of the firm’s estimate of 49M iPhones. […]
FX Market Trains Spotlight On Fed
Mar 15, 2016
Jeremy Parkinson
Finance
With the Bank of Japan policy decision out of the way, markets can zero in on the US Federal Reserve Bank’s next meeting which concludes tomorrow. Janet Yellen, the chief of the Fed, is expected to affirm markets that US interest rates will continue to rise in the months ahead. Analysts believe that the Fed […]