Hello MarketClub members everywhere. After a volatile week, the market seems to have resumed its upward path. The major indexes are finishing up the week on a strong note. While the dollar has suffered, it's worst week in a year trading as low as $97 today, and crude oil is once again above $50 a barrel.
The Trade Triangles did exit out of our Alibaba trade profiting $9.45 (+9%) on 5/18/17. This exit was brought on by a earnings miss in the early morning hours before the market opened. BABA missed earnings, reporting, and EPS of .64 vs. the estimates of .66. However, they did report a 60% increase in revenue. I believe that BABA has room to move higher and will tell you how to re-enter the trade is you were stopped out like I was.
Key levels to watch next week: Continue reading "Stocks Rise At The End Of A Volatile Week"
The market opened sharply lower today as turmoil around President Trump has increased. Reports of a leaked memo by former FBI chief James Comey spooked traders and is raising questions about whether President Trump tried to interfere with a federal investigation which is only adding fire to news that Trump disclosed classified information to Russia's foreign minister about a planned Islamic State operation. Interesting times indeed!
Both The S&P 500 and the DOW have issued new red weekly Trade Triangles signaling a move to the sidelines while the NASDAQ remains in a long position.
Key levels to watch this week: Continue reading "Trump Turmoil Drives The Market Lower"
Hello MarketClub members everywhere. Oil has hit its highest price in more than three weeks after it's 5th straight day of gains. Of course, this move is due to Saudi Arabia and Russia indicating that the OPEC-led supply cuts need to last into 2018.
The Nasdaq and the S&P 500 touched record highs earlier today as a rise in oil prices boosted energy stocks, and investors shrugged off the impact of a global cyber attack.
Key levels to watch this week: Continue reading "Oil Rebounds as NASDAQ and S&P 500 Hit All-Time Highs"
Hello MarketClub members everywhere. After five days of gains, the dollar is dropping from subdued retail sales data and inflation in the world's largest economy. Gold has risen for a second straight day, while crude oil has slipped back below $48 a barrel.
Several retailers, including Macy's, Nordstrom, Kohl's and J.C. Penny, have seen their stocks tank this week after reporting weaker-than-expected quarterly results, putting the retail sector under pressure. You have to wonder how brick and mortar retailers can survive in an ever-expanding online world. What do you think?
Key levels to watch this week: Continue reading "Dollar Slips After Retail Sales Miss The Mark"
Hello MarketClub members everywhere. The S&P 500 and the Nasdaq touched record highs for the second straight day following a batch of upbeat corporate earnings, while Emmanuel Macron's victory in the French presidential election improved risk appetite.
The VIX, Wall Street's "fear gauge," hit its lowest level in more than a decade earlier in the day. A lower VIX typically indicates a bullish outlook for stocks.
Oil prices headed lower today over concerns about slowing demand and the rise in U.S. crude output which has shaken traders faith in the ability of OPEC to rebalance the market.
Key levels to watch this week: Continue reading "Stocks Lingering Near All-Time Highs"