June 18, 2013 –
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RELATED TICKERS: SPY
, GS
, JPM
The markets continue to roar higher with the SPDR S&P 500 ETF Trust (NYSEARCA:SPY) trading at $165.60, +1.10 (0.67%). This is the second solid up day in a row, both coming prior the FOMC Policy Statement tomorrow. While the markets are charging higher into this major event, financial stocks have stalled and are flat to negative. Goldman Sachs Group Inc (NYSE:GS) is trading at $163.65, -0.46 (-0.28%) while JPMorgan Chase & Co. (NYSE:JPM) is trading at $53.89, +0.04 (0.07%). [more]
June 17, 2013 –
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RELATED TICKERS: FREE
, NEWL
, DRYS
Shipping stocks, one of the few sectors still near/at their 52 week lows are on the move in dramatic fashion. The smallest of the group are getting the biggest move. FreeSeas Inc. (NASDAQ:FREE) is trading at $0.580, +0.215 (58.81%) while NewLead Holdings Ltd (NASDAQ:NEWL) is trading at $0.188, +0.048 (34.00%). [more]
June 17, 2013 –
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RELATED TICKERS: OIH
, HAL
, BHI
This morning, most of the leading oil service stocks are advancing higher to start the trading week. Today, the popular and highly followed Market Vectors Oil Services ETF (NYSEARCA:OIH) is trading higher by 0.65 cents to $43.60 a share. Short term traders should watch for intra-day resistance around the $43.65, and $44.04 levels. The daily chart of the OIH is still trading above the important 50-day moving average which keeps the OIH in a strong technical position. There will be very good daily chart resistance around $46.00 level. [more]
June 13, 2013 –
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RELATED TICKERS: XLU
, ITB
, IYR
Since June 2012, every stock market dip has been a buying opportunity. At that time, the major stock indexes in the United States surged higher on the back of the easy money policy called QE-3 implemented by the Federal Reserve. This is a program where the central bank buys $85 billion dollars a month worth of mortgage backed securities (MBS) and U.S. Treasuries. This action by the Federal Reserve has certainly been the leading catalyst for rising stock, and housing prices. Now the talk of the town is that the Federal Reserve will need to taper or cut its current easy money program. [more]
June 12, 2013 –
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RELATED TICKERS: CLF
, BTU
, WLT
There is money to be made and I intend to make some. Being long the coal stocks for next week is where the money appears to be lurking in an otherwise poor market. This is due to the strength we are seeing today in stocks like Cliffs Natural Resources Inc (NYSE:CLF), Peabody Energy Corporation (NYSE:BTU), Walter Energy, Inc. (NYSE:WLT). [more]
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