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Posts Tagged ‘UTI’

Weak Weekly Wrap-Up

This chart says it all (thanks Jesse).

In last week’s wrap-up I said: "Since early September our upside targets for the indexes have been: Dow 10,087, S&P 1,096, Nasdaq 2,173, NYSE 7,204 and Russell 623 and nothing has happened to change our fundamental outlook for the better so the closer we get to those levels, the LESS comfortable we are taking bullish positions."  I mentioned how tempting it had been to cash out all our longs and go 100% bearish when we hit 10,300.  Our downside levels told us to wait until the 16th, when Monday’s move up was finally the last straw and we are out of the bull game (our last major Buy List was July 11th and most picks are up over 100%), probably for the rest of the year

This chart shows you that the S&P is primed for a 5% correction back to 1,050.  I don’t know why Jesse didn’t extend out the lower support line, which would take us right about to my pullback target of S&P 1,000/Dow 9,650.  I stuck my neck out on TV two weeks ago, calling for a 10% correction to those levels but we’ve been playing both sides of the fence until this week, when I finally had to put my foot down on Monday, after having discussed cashing out for the holidays in Member Chat over the weekend.  Our general plan this week was to cash out the winners and leave only longer-term, hedged bullish plays while adding more speculative downside plays for the short-term correction.   

Why the change of heart?  Well, something you don’t see on this chart but is pretty clear on the Yahoo monthly view, is that virtually all of the gains (ALL of them if you include the spikes) in the Dow for the ENTIRE month of November have come on single days each week.  This week it was Monday (139 points), last week Monday (206 points) and Nov 5th was Wednesday (198 points).  Take those days out of the run from our Oct 30th close at 9,712 and we’re up just 63 points to 9,975 despite there being only 1 losing day in the first week (11/3, down 16 points) of the month and one losing day in the second (Nov 12th, down 92 points).  That is one super-flimsy way to build a "rally" don’t you think?

Getting 90% of our gains in on 3 days in 3 weeks indicates a certain lack of follow-through to these bullish market moves.  I…
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Phil's Favorites

Jobless Claims Improve, Leading Indicators Decline: Economic Report Card

Courtesy of John Nyaradi.

Jobless claims improve while leading indicators decline in today’s economic report card

by Wall Street Sector Selector Staff

Weekly jobless claims declined to 424,000 from last week’s 432, 000 but stubbornly stayed above the all important 400,000 level for another week.

August Leading Indicators came in at +0.3% compared to 0.5% for July, as the economy continues registering weakness.

Good news came from July Home Prices which rose to +0.8% from the previously reported +0.7%.

But the biggest economic news of the week came yesterday when the Federal Reserve said it saw  “significant downside risks to the economic outlook, including strains in global financial markets.”

Global stock markets responded negatively yesterday an...



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Insider Scoop

Priceline.com Trades Higher on Q1 Earnings Results (PCLN)

Courtesy of Benzinga

Shares of Priceline.com Incorporated (NASDAQ: PCLN) are trading higher in the after-hours following the release of its Q1 earnings results. Currently, shares are up 2.74%, trading at $548.60; they closed the regular session down 0.67 %, at $533.97.

The company said that its Q1 EPS came in at $2.66 on revenues of $809.3 million; this compares to the Street's estimate of $2.46 per share on revenues of $779.5 million. Revenues rose 38.6% year over year.

"In the 1st quarter, the Group benefited from strong growth in our global hotel business, particularly at Booking.com and Agoda," said Jeffery H. Boyd, Priceline President and Chief Executive Officer.

He added, "Room nights booked grew by 55.8% and our international gross bookings grew by 79% compared to prior year...



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Zero Hedge

Fukushima Explosion Update: Core Presumed Intact As Sea Water Used To Bring Temperature Down, Radiation Level At 1015 Microsieverts/Hour

Courtesy of Tyler Durden

The damage control to the Fukushima explosion reported earlier is coming fast and furious. According to CNN, "the explosion at an earthquake-damaged nuclear plant was not caused by damage to the nuclear reactor but by a pumping system that failed as crews tried to bring the reactor's temperature down, Chief Cabinet Secretary Yukio Edano said Saturday. The next step for workers at the Fukushima Daiichi plant will be to flood the reactor containment structure with sea water to bring the reactor's temperature down to safe levels, he said. The effort is expected to take two days." While the government is trying to play down the threat from the explosion, it has nonetheless double the evacuation zone radius from 10 to 20 kilometers: "Radiation levels have fallen since the explosion and there is no immediate danger, Edano said. But authorities were nevertheless expanding the evacuation ...



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Chart School

The Mega-Bear Quartet and L-Shaped "Recoveries"

Courtesy of Doug Short

Note from dshort: I retired this chart series last summer in deference to my prefered inflation-adjusted series that aligns the S&P 500 2000 high with the Nikkei peak in 1989. However, I continue to receive requests for this version, despite the "V" shape of the the recovery since the March 2009 low. This chart series overlays the current S&P 500 with the L-shaped "recoveries" after the Dow Crash of 1929, the Nikkei 225 after Japan's 1989 bubble, and the post Tech Bubble NASDAQ. Click the chart below for a larger version and use the links to see various comparisons.


Click for a larger image

I've ...



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Sabrient

Sabrient Risers - 3/12/2011

Top 5 RisersStockRatingAnalysisVLOSTRONGBUYAn increasingly positive growth rate of past earnings, along with improving expectations for long term growth, make Valero a good prospect for high returns.KROSTRONGBUYKronos Worldwide has been gaining recognition from analysts as a good canditate for achieving higher than expected earnings along with higher overall projected valuation.SFIBUYiStar is one of the top candidates projected to achieve both higher than previously projected earnings in the short run and a higher earnings growth rate in the long run.AMATSTRONGBUYApplied Materials has been...

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Option Review

Bulls Scoop Up Sprint Nextel Corp. Calls

 Today’s tickers: S, FTR, JTX & SBUX

...



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OpTrader

Swing trading portfolio - week of March 7th, 2011

This post is for live trades and daily comments. Please click on "comments" below to follow our live discussion. All of our current virtual trades are listed in the spreadsheet below, with entry price (1/2 in and All in), and exit prices (1/3 out, 2/3 out, and All out).

We also indicate our stop, which is most of the time the "5 day moving average". All trades, unless indicated, are front-month ATM options. 

Please feel free to participate in the discussion and ask any questions you might have about this portfolio, by clicking on the "comments" link right below.

To learn more about the swing trading portfolio (strategy, performance, FAQ, etc.), please click here

Optrader 

Swing trading portfolio

 

One trade portfolio

...

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Stock World Weekly

Stock World Weekly

Here's the newest Stock World Weekly:  Illusion Based on a Fantasy 

Comments welcome... share your thoughts. 

Download Newsletter 3/6/11


Stock World Weekly archives here >

...

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Pharmboy

Biotech Junkies Update and Momenta Pharma Moving Forward

February is now past, and the Biotech Porfolio is loaded with winners and a miss (PLX).  MRK is down a bit, but I expect that trade to recover, and one could be more agressive and double down on it, or play another round at the Jan13 $30 options for roughly the same price.  Below is the summary, and note the grey boxes are ones that did not fill.  I am still a fan of BMRN, and like DEPO as well.  Now let's look at a few others.

Table 1.  PSW Biotech Plays Since January 2011

 

Our newest play is Momenta Pharmaceuticals (MNTA), who is pursuing a three-part business model which includes complex generic equivalents in partnership with the Sandoz division of Novartis, proprietary compounds, and follow-on- biologics (FOB).  It seems that this company is tied up in competition/litigation wit...



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Philip R. Davis is a founder Phil's Stock World, a stock and options trading site that teaches the art of options trading to newcomers and devises advanced strategies for expert traders...

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