This morning, many of the leading retail stocks are being sold off to start the day. Bed Bath & Beyond Inc. (BBBY) is one of the leading retail stocks declining lower. The stock is falling by 0.97 cents to $77.00 a share. Short term day traders should watch the $76.46 level for strong intra-day support. This could be an area where the stock could stage an...
This morning, most of the leading home-builder stocks are coming under some selling pressure despite the higher stock indexes. The decline in the home-builder stocks is likely due to the increase in the 10-year U.S. Treasury yield. Today, bond yields are ticking higher by 4 basis points to 2.64 percent. Higher yields have hurt the home-builder stocks...
Cree, Inc. (NASDAQ:CREE) has had a monster move higher. As it continues to surge in a weak market, the quick swing trade short level has emerged. Please note the chart below. This is a classic gap fill and double top level. Look for a one to two day pull back in the stock, good for about 5%. The level to short is $76.05. Gareth Soloway Chief Market...
Baidu Inc (NASDAQ:BIDU) continues to surge higher today. The stock is trading at $157.56, +2.38 (1.53%). Baidu Inc is up from the $88.00 level since July 2013. This is a massive gain of 80% in just three months. While the bulls are cheering, smart investors may have an amazing opportunity to short it. The 2011 high on Baidu is $165-$166. This is also a max move...
Most of the leading oil refinery stocks are declining again today. This important industry group has been very weak since topping out in May 2013. One of the leading stocks in the sector is Valero Energy Corporation (NYSE:VLO). Today, $VLO is trading lower by 0.39 cents to $34.05 a share. The stock continues to hold near term daily chart support around this...
Rio Tinto plc (NYSE:RIO) is one of the world's leading mining companies. The company is involved in the mining and production of aluminum products, copper, gold, silver, diamonds, salt, titanium iron, metal powders, zircon, coking coal, uranium, iron ore and more. Today, the stock is trading lower by $1.27 to $50.62 a share. Short term day traders can watch for...
Rock-Tenn Company (NYSE:RKT) is falling into major support at $110.60. This is the area to expect a solid technical bounce. The stock market and Wall Street has punished this stock over the last two days. The 52 week high was just hit on Monday at $126.05. The stock is now down almost 10% from that high. Look for a bounce off the $110.60 level of support. Gareth...
Polypore International, Inc. (NYSE:PPO) is a leading high-technology filtration company that develops, manufactures and markets specialized microporous membranes. The Company's products and technologies are used in two primary businesses: energy storage and separations media. Today, a note issued by William Blair says that vehicle electrification is behind...
ExOne Co (NASDAQ:XONE) has hit major support at $49.20. The stock announced a secondary public offering just last week causing the stock to tumble. The 52 week high was $78.80. The low of the day is $49.17. This should see a 10% bounce in the coming days. Gareth Soloway Chief Market Strategist www.InTheMoneyStocks.com
Herbalife Ltd. (NYSE:HLF) is slamming into the highs from 2012. The stock is trading at $73.63, +2.99 (4.23%). The shorts, including Ackman continue to take a beating yet finally there are technical signals of a pull back. While most of these short investors are heavily under water, those entering now have a solid risk reward trade. Not only is the stock at double...
Last week, yields on the 10-year U.S. Treasury Note reached the 2.98 percent level. As we all know, yields have soared higher by 137 basis points since April 2013, when the yield on the 10-year U.S. Treasury Note was as low as 1.61 percent. The recent surge in bond yields have certainly caused stock corrections in the home-builders, mortgage/real estate REITs, and...
Baidu Inc (NASDAQ:BIDU) has broken out today. The stock had resistance at a gap fill price of $145.00. That has now been taken out. The next major level of resistance on BIDU is $152.00. Should it be hit in the next two days, a good shorting opportunity would arise. BIDU is a Chinese ADR. It has run from below $90 to its current level in less than three months. A...
JPMorgan Chase (NYSE:JPM) has risen substantially in the past week. The stock has pushed higher from approximately $50 to $54 in just the past seven trading days. While many are starting to hop on the bullish bandwagon once again, warnings signs are everywhere. Note the chart below. The stock is into major resistance and could very likely see a pullback. Gareth...
Anytime there is a geopolitical event taking place in the Middle East the price of oil seems to surge higher. That was the case recently as light crude oil futures (CL) jumped as high as $112.24 a barrel. Higher oil prices certainly hurt the U.S. consumer, but as long as gasoline prices do not climb rapidly the major stock indexes do not seem to react...
This morning, most of the leading home-builder stocks are trading higher at the start of the trading session. Today, bond yields on the 10-year U.S. Treasury Note are lower by 0.4 to 2.89 percent. Traders must be aware that home-builder stocks are trading inversely to bond yields at this time. One of the leading home-builder stocks rallying on the back of lower...
Netflix, Inc. (NASDAQ:NFLX) is quickly approaching the $300 level. The all time high for Netflix hit in 2011 was $304.79. This represents a perfect double top and a major shorting area. I will be locked and loaded if the stock trades into and just above that level. Cheers! Gareth Soloway Chief Market Strategist www.InTheMoneyStocks.com
This morning, the S&P 500 Index e-mini futures (ES-U3) are in float mode rallying higher by more than $8.00 since the start of the trading session. Short term ES traders should watch for intra-day resistance around the $1650.92 level. The markets are now entering the light volume part of the trading day (lunch hour) so the pullbacks in this equity could be...
Google Inc. (NASDAQ:GOOG) is falling sharply with the stock market today. Many are asking where to go long for a bounce. The level is simple and easy to find. Please note the chart below; this level is $841.50. Should this level hit in the next day or two, look for a solid $20.00 bounce. Gareth Soloway Chief Market Strategist www.InTheMoneyStocks.com