October 2011
October 17, 2011 –
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RELATED TICKERS: AAPL
Apple (AAPL) comes out with earnings tomorrow (Tuesday) after the closing bell, and we have to figure that the results will be stellar. That said, AAPL technically is set up for a potential sell-the-news event in the aftermath of its results. [more]
October 13, 2011 –
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RELATED TICKERS: SPY
, QQQ
, AAPL
Mike tells subscribers today: Let's notice the relative weakness of the S&P 500 Depository Receipts (SPY) in relation to the PowerShares QQQ Trust (QQQ), exhibited by the juxtapostions of their trading moving averages. The QQQ has found support at its fastest, upper-most moving average, while the SPY has violated its most "bullish" moving averages, and has spent the last few hours probing its middle postion moving average. The fact that big technology names such as Apple (AAPL), Amazon (AMZN), Intel (INTC), Cisco (CSCO), NetFlix (NFLX) and others are positive today in contrast to the banks and the industrials, which are heavy, accounts for difference. That said, which index has the uppper hand? My sense from the chart work on AAPL and AMZN is that they are tired and peaking, which if accurate, means that the QQQ (NDX) will fall into line with the SPY (SPX) in the upcoming hours. Chartwork at http://www.mptrader.com/middayminute/10/2011/13/ [more]
October 12, 2011 –
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RELATED TICKERS: YCS
Rumors are circulating that in an effort to enable its exporters to compete effectively with China, Japanese authorities are considering some sort of currency "peg," perhaps to a basket of currencies, or vis-a-vis the Yuan, or maybe even in part to gold. [more]
October 04, 2011 –
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RELATED TICKERS: GLD
Just about any and every way I look at my spot gold and the SPDR Gold Shares (GLD) work, I conclude that both have unfinished business on the downside. [more]
October 03, 2011 –
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RELATED TICKERS: FCX
, X
, AA
Many of the traders and portfolio managers that I speak to are looking at the beleaguered commodity and industrial materials sectors as ripe for reentry on the long side. They're watching companies like Freeport-McMoRan Copper & Gold (FCX), U.S. Steel (X), Alcoa (AA), Walter Energy (WLT), Mosaic (MOS), Deere (DE), and Caterpillar (CAT), for example. However, my enclosed monthly chart of the China Shanghai Composite gives me pause about such a committment right at this time. [more]
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