By Jeff Pierce
If this is a normal correction in the markets (between 5-10%), then Apple (NASDAQ:AAPL) should visit $570 at a minimum. If the correction turns into something more severe (greater than 10%), then I could see AAPL falling as low as $450-$470.
The best reward/risk to short would be to wait for a retest of the $620 level.
Apple. Inc. (NASDAQ:AAPL) — 60 min. chart Read More
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By Jeff Pierce
The 3 Horsemen
These have been the most ridiculously overbought charts I’ve seen in awhile. Traders can’t continue to hide in these stocks.
The pattern I added to the Chipotle Mexican Grill, Inc. (NYSE:CMG) chart is what we are looking for to see the first sign of weakness among these leading stocks. Priceline.com, Inc. (NASDAQ:PCLN) has already fallen out of it’s channel, CMG is struggling, and as soon as Apple (NASDAQ:AAPL) falls I suspect it’s going to take a big chuck of the market down.
I opened my market ETF shorts in the pre-market yesterday and ended up positive on those trades by the end of the day...barely. But I’ll take it on a day where the indexes at least looked like they had a good day. Thanks to a USG Corporation (NYSE:USG) long I opened at the close on Tuesday (sold at the open yesterday), I actually finished up for the day.
Right now I’m very bearish on the markets in the US and Canada and will probably add to these shorts on any more move to the upside. Read More
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By Jeff Pierce
I want to keep Apple’s (NASDAQ:AAPL) stock front and center because it’s such a phenom in our culture and in the markets that it makes an interesting case study on runaways stocks. Since I first wrote about the current climax run on March 21st, we’re up another $40 and one could argue it’s just going to keep on going higher. Maybe it will, maybe it crashes and burns, it won’t really matter to me as I’m not invested and have no plans in the foreseeable future. I’m not even sure this is a stock I would short as the risk is quite high given the extreme mood swings this stock has, it would be difficult to hold on if the trade went against you. Read More
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By CJ Brott
Although the market continued to advance in March, the rate of growth for our holdings slowed. The performance of our recently added momentum holdings were mixed. The share price of Spirit Airlines, Inc. (NASDAQ:SAVE) was slowed by higher prices for oil while the declining price of natural gas slowed down Devon Energy’s (NYSE:DVN) advance. Our position in the SPDR Technology ETF (NYSEARCA:XLK) followed its largest holding Apple (NASDAQ:AAPL) higher while our older positions in Microsoft (NASDAQ:MSFT) and Intel (NASDAQ:INTC) continued to work higher. Read More
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By Michael Arold
Though stock prices gained slightly in the month of March, the markets recently have been sending out warning signs — for example, small cap stocks have been underperforming their larger peers. Also, copper prices turned sideways and a declining number of stocks participated in the rally.
In the past four years, copper has been a great leading indicator for stocks. So has been market breadth: indices often turned lower after stock participation dropped.
On the other hand, there are also positives. Technically, the S&P 500 established a stable uptrend and short-term declines have been limited so far; buyers have been stepping in on every minor dip. Most important: leading stocks continue to lead. Even a high flyer like Apple (NASDAQ:AAPL), which has gained over 60% since last December, acted well in March. As long as these market leaders continue their strong price action, the bull market is fundamentally intact.
On a sector level, prices kept diverging, which is not necessarily a bad sign: financials, technology and consumer discretionary stocks acted very strong, while energy and basic materials demonstrated relative weakness as a result of a stronger dollar and declining demand from China. Read More
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By VFC’s Stock House
At the conclusion of each week, VFC’s Stock House examines some news items, stocks and stories that made headlines during the previous trading week, but may also make headlines or influence trends during the upcoming week as well. Although focusing intently on the biotech and healthcare sectors, due attention is also given to potential market-moving or game-changing companies in a broad variety of markets and industries. The ‘Weekly Stock Watch’ will also introduce new companies for coverage and identify some stocks that may have entered ‘buy territory’.
The first trading week of the new quarter is in the books, and while the DOW stood firm above the 13,000 mark last week, a quick scan of the headlines shows us that sentiment has quickly turned towards expectations of a broad market downturn. Read More
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By VFC’s Stock House
Some news, notes and stories wrapping-up Tuesday and trending towards Wednesday…
Weak Moves of the Week:
These events may or may not have occurred this week, but they’ve been identified as ‘weak’ this week…
President Barack Obama: Attempting to intimidate members of the Supreme Court and questioning their powers was a weak move by the President. His argument for doing so was even weaker. The people may not have elected the Justices, but the people didn’t have a vote on the health care bill either. In fact, when the people did have a chance to vote on it, they ended up putting a Republican in the late Ted Kennedy’s Senate seat — an event that few ever thought would be possible. Nominees for the Supreme Court are appointed and vetted through our elected officials, just like laws are vetted and implemented by our elected officials. To criticize the Judicial branch because they are not elected is also criticizing the ability of the same government for implementing laws without bringing the vote to the people. Read More
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By VFC’s Stock House
Given the company’s fall from grace and the potential for investors to view its share price drop as a potential rebound play, Research In Motion Limited (NASDAQ:RIMM) is going to be a hot stock to watch for quite a while. Investors looking for a quick turnaround, however, were disappointed last week when losses of over $100 million sent many of RIM’s board members running for the doors as the company opened up a new strategy of appealing to its enterprise business while – at least for the time being – not trying to compete with Apple’s (NASDAQ:AAPL) iPhone or Google’s (NASDAQ:GOOG) Android on the consumer market.
RIM reminds me a lot of Blockbuster (now part of the Dish Network Corporation (NASDAQ:DISH)), being a company that had dominated its space for years, but failed to stay ahead of the game and transform itself into a next-generation company before the ‘new generation’ had expired. In the world of technology, the competition is not looking to compete in the landscape of today, but it’s the landscape of tomorrow that matters, and it could be argued that the over-confidence displayed by RIM thanks to early dominance had the company blind to tomorrow. Read More
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By VFC’s Stock House
At the conclusion of each week, VFC’s Stock House examines some news items, stocks and stories that made headlines during the previous trading week, but may also make headlines or influence trends during the upcoming week as well. Although focusing intently on the biotech and healthcare sectors, due attention is also given to potential market-moving or game-changing companies in a broad variety of markets and industries. The ‘Weekly Stock Watch’ will also introduce new companies for coverage and identify some stocks that may have entered ‘buy territory’.
Here’s a toast to the first quarter of 2012, one that returned quite a bit of green to the portfolios of many an investor, renewed confidence in the markets and also had many forget the dog days of early 2009 when everybody and their brother was telling you to sell everything.
Those that might have bucked the selling trend and used the dip to buy are sitting pretty right about now, but that doesn’t mean another market correction isn’t in the works. Read More
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By Amy Gilroy
After years of losing market share to slicker phones, Research in Motion’s (NASDAQ:RIMM) BlackBerry will now be sold mainly to business markets.
BlackBerry maker Research in Motion Limited (RIM) said Thursday it will return to its roots and focus on enterprise business, where it still has a leading position, reported Bloomberg Businessweek and other news outlets.
RIM CEO Thorsten Heins said “We believe that BlackBerry cannot succeed if we tried to be everybody’s darling and all things to all people. Therefore, we plan to build on our strength.”
Apple (NASDAQ:AAPL) sold more phones (37 million) in the last quarter of 2011 than RIM sold in its last 3 quarters combined. The company shipped 11.1 million BlackBerries in its latest quarter, which ended March 3rd. Read More
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By VFC’s Stock House
With the quarter coming to a close on Friday, the broad markets all traded relatively flat for the week and some economic numbers in the United States hinted at a prolonged recovery while concerns in Europe continue to quell any all-out euphoria.
Spanish workers took to the streets in protest and strike over the government’s plans to cut spending, reform labor laws and get a grip on the country’s spiraling economy that boasts unemployment of over 20%.
Although the DOW is trading close to its all time highs, it’s hardly likely that the markets can sustain such vigor while Europe as a whole is still straddling the lines of economic collapse, and it doesn’t help that the general population across the pond is not on board with reform. But you can’t blame the people for being unhappy that the already extremely high tax rates they pay are going even higher, at least for those with jobs. Read More
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