Bull Of The Day: Mistras Group
It’s been a volatile year already in the stock market. We’ve seen a move straight down from January 1st to the 20th, a whipsaw higher and retest of the lows in mid-February, followed by a rip your face off rally to 2,056. With all the back and forth action, it’s been hard to key in on […]
February Pending Home Sales Surge By Most On Record Amid Midwest Miracle
With stock markets roller-coasting by the most on record, February pending home sales rose 3.5% MoM (seasonally-adjusted) dramatically beating expectations. In fact, sales spiked 29.5% MoM (non-seasonally-adjusted) – the best February spike ever. Price gains have slowed notably, which is being cheered by NAR’s Larry Yun, but notably the majority of the sales surge in Feb […]
EC Worst Case: Durable Goods May Not Actually Show Recession
Orthodox economic theory assigns recession to some exogenous “shock.” Without it, an economy is supposed to grow indefinitely along its trend or potential baseline so long as NAIRU (non-accelerating inflation rate of unemployment) is maintained. As you can imagine, economists and policymakers spend most of their time on that latter part which is one reason, […]
Qlik Surges After Reportedly Bowing To Activist Wish To Seek Alternatives
The shares of Qlik Technologies (QLIK) are jumping after Reuters reported that the company had retained Morgan Stanley to explore strategic alternatives, including a possible sale of the company. In notes to investors, research firms SunTrust and RBC Capital wrote that several entities could look to buy Qlik, which develops business intelligence products. WHAT’S NEW: […]
Spark Energy – Sell Signals
This morning I deleted Spark Energy (NASDAQ:SPKE) from the my portfolio for negative price momentum. Barchart technical indicators: 72% technical sell signal Trend Spotter sell signal Below its 20, 50 and 100 day moving averages 24.48% off its recent high Relative Strength Index 35.15% Recently traded at 21.04 which is below its 50 day moving average of 24.18
E Clearing Up Negative Interest Rate Confusion. Kocherlakota Weighs In
With all the talk of negative interest rates, we have to determine why they are considered so important. They are obviously very important to bankers, economists and central bankers. This article is not an attempt to encourage these folks because of the danger of cashless regulations once a negative regime is put into place. But […]
Great Graphic: Is The CRB Index Rolling Over?
This Great Graphic, created on Bloomberg, depicts the CRB Index, a basket of commodity prices. The technical picture has deteriorated, and the price action in the coming sessions is particularly important in determining outlook. The CRB Index put in a double bottom. On January 20 and February 11 lows were set just below 155.00. The neckline […]
The Basic Problems Which Were Killing American Express Still Remain In Place
American Express (NYSE:AXP) once meant something special in the markets, to both merchants and customers. It meant quality and low chargebacks. It meant a high-income, free-spending audience of cardholders who paid their bills on time. American Express wasn’t a credit card. It was a “travel and entertainment” card through which corporations maintained control over selling expenses. flickr […]
WTI Crude Oil And Natural Gas Forecast – March 28, 2016
WTI Crude Oil The WTI Crude Oil market tested the $38 level on Thursday, and then bounced enough to form a hammer. With the markets being close on Good Friday we didn’t get any action, but at the end of the day it still suggests that we are going to bounce from here and perhaps […]
Sugar Set For Correction
The sugar price has traded exactly as outlined in analysis titled, Sugar Technical Outlook, produced back in September 2015 and has seen price increase by just over 50%. That analysis outlined the expectation for price to trade up to around the $16.25 level. Price just hit a high of $16.75 before reversing back down impulsively. […]
