Carl Icahn Buys 6% Stake In Talisman Energy (NYSE:TLM) - Should You Buy?

Posted on by The INO.com Team

This morning as I was looking over the news, I read with interest that Carl Icahn had taken a 6% stake in Talisman Energy Inc (NYSE:TLM). Talisman Energy is a large Canadian energy company.

On October 1st, the Trade Triangles flashed a major buy signal for Talisman Energy at $11.95. I suspect that this was partly due to the price action that was reflected by Mr. Ichan's purchase of Talisman shares.

1.All Time High. (2) 12 Month Base. (3) +(4) Double Bottom. (5) Trade Triangle Buy at $11.95.

(6) Major Pivot Point. (7) 50% Fib Retracement $17.41. (8) 61.8% Fib Retracement $19.21.

What is also interesting is how Mr. Icahn picks stocks like Talisman Energy. I have witnessed the same actions in play in several other stocks that Mr. Icahn has purchased in the past 12 months. Stocks like Apple, Netflix, Herbalife, and most recently, Talisman, all display similar characteristics. I suspect that the technicals play a part in his overall approach to the market. The timing of Mr. Icahn's stock purchases are amazingly close to the timing of our Trade Triangle buy signals.

Today, we are looking at a chart of Talisman Energy and the stock action looks good from a technical viewpoint, as well as from our Trade Triangles. The potential for this market to go significantly higher is there, in my opinion. Of course, I will be using our Trade Triangles for money management to exit this position, should it not work out the way I expect it to.

As always, please share your thoughts with us on this or any other market.

Adam Hewison
President, INO.com
Co-Creator, MarketClub

Will the U.S. breach the debt ceiling on October 17?

Posted on by The INO.com Team

Democrats controlling the Senate are planning to try to pass a stand-alone measure to increase the government's borrowing cap, challenging Republicans to a showdown that could unnerve financial markets as the deadline to a first-ever default on U.S. obligations draws closer.

Will the U.S. breach the debt ceiling on October 17?

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Take a moment to vote and leave a comment with your thoughts.

Every Success,
The INO.com team

U.S. Stock Market, Profits & Policy

Posted on by The INO.com Team

U.S. stocks generally remain on bullish trends in all time frames.  Further, the Debt Ceiling (and Government shutdown) theater seems to be playing out in the usual way that these events play out; the stock market has been correcting in an orderly way and seems to be waiting for an inevitable compromise between the White House and Republican leaders.  This of course would spur a next leg up if the usual script plays out.  That is how it looks, with a traditional bull catalyst (heavy media rotation of an Armageddon-like political event) in play.

Yet there is a negative in play that actually matters, as corporate forward profit guidance is degenerating.  Or is it really a negative?  Graph from Sentimentrader.com: Continue reading "U.S. Stock Market, Profits & Policy" →

Which stocks or markets are you following?

Posted on by The INO.com Team

As we start the new trading week, there are a lot of challenges we are facing with the partial government shutdown still in effect, the looming debt ceiling, and the numerous other problems plaguing the US at the moment.

I cannot imagine that even Congress could be so stupid as to not resolve the debt ceiling. Not to do so would be totally irresponsible and push the US over the proverbial fiscal cliff. Should the unthinkable happen, it would send the world's markets into a tailspin and, chances are, there would be a great deal of discussion about changing the Dollar's currency status.

So, with all that in the background, what stocks or markets are you watching this week? Continue reading "Which stocks or markets are you following?" →

Gold Chart of The Week

Posted on by The INO.com Team

Each Week Longleaftrading.com will be providing us a chart of the week as analyzed by a member of their team. We hope that you enjoy and learn from this new feature.

Weekly Gold Report (October 7th through October 11th)

Week two of the US Government Shutdown has officially begun and it appears that we are no closer to a resolution than we were when last weeks business concluded. Despite the fact that there are a few noteworthy economic figures and speeches being brought to the markets this week, all eyes will continue to follow news from Washington throughout the next five trading days.

In an effort to not bore readers with the same information that headlines every financial publication each day, I will spare you the details of the US Governments sophomoric behavior over the debt ceiling and suggest that traders should expect this debate to continue to weigh on the markets. If the last five years have taught us anything about the US Government and the big decisions and deadlines, we should probably expect some form of compromise in the eleventh hour on October 17th. While it is certainly a possibility that a resolution could be struck in advance of that date, I would not bet the farm on it. Continue reading "Gold Chart of The Week" →