Tag: DOW (INDEX:DJI)

Crude Oil Crashes Through $30 And The Market Follows

Posted on by The INO.com Team

This is turning out to be a very expensive week for investors who are still holding long positions in this market. As I warned late last year and all this year, I felt the market was and is going to be volatile and more than likely going lower.

Let's go back several years to the first quarter of 2009 when the equity markets bottomed out and began their six-year climb to the stars.

If you look at the S&P 500, you can see that it made a low on the week of March 2, 2009 at 683.38. Six years later on the week of July 13th it closed at a high of 2126.64. I want to look at the market using the Fibonacci tool and see potentially where this index might be headed on the downside. A classic 38.2% Fibonacci retracement takes this index back to 1,574, (it closed at 1,921.84 yesterday). A 50% retracement would bring the S&P 500 back down to 1405.51 and a 62% retracement would take it all the way back down to 1236.24.

The S&P 500 closed last Friday at 1922.03 Continue reading "Crude Oil Crashes Through $30 And The Market Follows" →

It's Not Over Until It's Over And It's Not Over Yet

Posted on by The INO.com Team

This is a week that many investors would like to forget. It's the worst beginning of the year for equities since records have been kept.

Investors, some of whom are shell-shocked, are asking themselves, what should I do? Should I be a buyer here? Should I sell everything or should I just remain on the sidelines?

In today's video, I will be sharing with you some interesting views of the major indices that you may not have heard before. I will also be examining six big stocks that aren't so big anymore and what you should or should not be doing with them. I will be looking at gold which has done very well this week and predicting where I potentially think it can go.

Here's a list of the markets I will be covering today: Continue reading "It's Not Over Until It's Over And It's Not Over Yet" →

Under Armour's Earnings Just Weren't Enough

Posted on by The INO.com Team

Under Armour Inc. (NYSE:UA) reported its third quarter results Thursday morning, and it managed to beat expectations. But you wouldn't know that if you looked at its stock price today. It's been trading in the -6% loss territory all day.

Under Armour even set a record in the 3rd quarter by having their first ever $1 billion revenue quarter. In fact, they topped $1.2 billion in revenue and yet, it wasn't enough for investors today. Revenue jumped 28%, topping the $1.18 billion Wall Street expected from Under Armour. Earnings per share also advanced, rising to .45 from .41 a year ago, topping the .44 that analysts were looking for. Is this just profit taking or is there something else going on? I'll share with you my thoughts on Under Armour. Continue reading "Under Armour's Earnings Just Weren't Enough" →

US Stocks: The TrendLine Between Bull and Bear

Posted on by The INO.com Team

By: Elliott Wave International

Last weekend, I went on a road trip with a friend and her two young sons. The second we left the driveway, the older boy placed a rubber pool noodle in between him and his brother and established the most important ground rule of all sibling driving trips:

"Don't cross this line or else."

Impressively, an entire hour passed without incident when my friend spied the younger son teasingly edging his elbow toward the very outskirts of the noodle, baiting his luck.

Anticipating the ensuing reversal of our event-free driving experience, my friend pre-emptively pulled over to the side of the road, when in -- 3-2-1! -- a small arm crossed the line and a giant tantrum ensued.

Then, it hit me: Continue reading "US Stocks: The TrendLine Between Bull and Bear" →

Death By 1000 Rate Hikes

Posted on by The INO.com Team

As we rapidly approach the end of the third quarter it would appear as though the Fed's strategy is to let out these "trial balloons," saying that interest rates will be raised later this year.

The latest Fed spokesman to float another trial balloon was the New York Federal Reserve president, William Dudley. Mr. Dudley is a voting member of the Fed's policy setting committee. Mr. Dudley stated that the Fed will likely raise rates later this year. How many times do they have to tell us that?

I have said this before and I believe the Fed has no idea how to get out of this pickle that it has got the country in. This addiction to low cost money is not healthy and I was happy to see this morning that Carl Icahn has the same mindset. Mr. Icahn thought the Fed should have raised interest rates six months ago, I would've said at least 12 months ago, but all that is a moot point right now.

With only three trading days left till end of the third quarter, all the major markets I track are lower for the month and the quarter. I view this as a significant market clue indicating that the markets have not yet finished on the downside.

Here is were the markets closed last month. All of these major indices are lower for both the month and the quarter. Continue reading "Death By 1000 Rate Hikes" →