Tag: Mid-Day Report

Exactly 1 Year Ago Today, GoPro Gave A Sell Signal At $46.50

Posted on by The INO.com Team

Hello everyone! GoPro, Inc. (NASDAQ:GPRO) had a sell signal exactly a year ago today indicating that this stock was in trouble and headed lower. That signal came in at $46.50 on a monthly Trade Triangle. GoPro is currently trading below $12 a share.

Two of the major indices are now officially in bear markets based on the Trade Triangle technology. I have talked about the power of the Trade Triangles and how they can give off early warning signals of impending changes in the market. For example, if you look back last December, members received an early warning signal that all was not well in the S&P 500. That signal came in the form of a weekly Trade Triangle on December 11th at 2,019.39. As I write this commentary, the S&P 500 is currently trading at 1,880! The same warning signals occurred in both the Dow and the NASDAQ. These warning signals occur in stocks as well, take a look at Apple Inc. (NASDAQ:AAPL), Best Buy Co. Inc (NYSE:BBY), Under Armour Inc. (NYSE:UA) and a host of other stocks that were once thought to be invincible.

If you have been reading this blog for any length of time you've heard me make the statement, "they slide faster than they glide". That means that markets tend to go down much faster than they go up. Some market pundits blame it on gravity, I just say that perception may be the real culprit here. Right now confidence in the market is low and perception is high that there is more trouble ahead. Continue reading "Exactly 1 Year Ago Today, GoPro Gave A Sell Signal At $46.50" →

Look For The Market To Catch Its Breath This Week

Posted on by The INO.com Team

After last week's shellacking, I expect the markets to regroup and get used to a another level of trading. I do not expect to see this market rebound dramatically like it has done in the past. If one looks at the NASDAQ index on a weekly close basis, last week's closing price was the lowest level since January 26th of 2015. That does not auger well for this index in the future.

The key to remember this week is not to get overly excited and to stay disciplined. Give the market some room and time to sort out what it has to sort out and then be prepared to make your move.

Here's how I see the big picture, crude oil continues to be in a bear market and I have targeted the $28-$30 levels on the downside for now. Gold is trying to make a turn to the upside which is a reflection of everyone's nervous state about the economy and about liquidity in general. Continue reading "Look For The Market To Catch Its Breath This Week" →

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" →

Is Apple About To Break $100?

Posted on by The INO.com Team

Hello MarketClub members everywhere! I've just returned from a short mini break over Christmas and New Year's to see the market crashing down this morning. This should come as no surprise to anyone as I have been talking about the negative chart implications that we were seeing in the major indices last year.

Indices

As far back as November 16th I warned that a weekly Trade Triangle had given a signal to move to the sidelines in the DOW index. That same Trade Triangle signal was followed a short while later in both the S&P 500 and the NASDAQ. The rocky start to the New Year should have come as no surprise to MarketClub members.

Gold

Concern over China along with a weak equity market here in the US was enough to push Gold (FOREX:XAUUSDO) to its best levels in some time and in doing so gave an important Trade Triangle buy signal. The Trade Triangle buy signal occurred on Tuesday, January 5th at $1,081.55. This is the first buy signal in gold in approximately three months and I believe it is one you should pay close attention to. My upside target for gold is the $1,130 to $1,140 area. Continue reading "Is Apple About To Break $100?" →

Here's One Good Bet For 2016 And It Could Help Keep You Healthy

Posted on by The INO.com Team

This little stock popped up on my radar yesterday with the help of the Trade Triangle technology. Whole Foods Market, Inc. (NASDAQ:WFM) is one of my favorite stores and I shop there every week.

Whole Foods has been in a sustained downtrend for the last nine months, but it appears as though the downtrend is over and Whole Foods is set for some healthy gains in 2016. I think it has the potential to double your money in 2016. Given the upside potential for Whole Foods, I feel that the risk factor is not that big.

As you well know, there are no guarantees in investing and risk is a factor, but in this case, the risk-reward ratio is in your favor.

I will be taking an in-depth look at Whole Foods Market, Inc. (NASDAQ:WFM) today along with the other key markets to see how these markets have fared in 2015, which is rapidly coming to a close. Continue reading "Here's One Good Bet For 2016 And It Could Help Keep You Healthy" →