Any Chance the Draghi Put is Now Priced Into the Euro & Corresponding Risk Assets in the Near-Term?
All the way back on July 10th we highlighted the fact that the Euro sat on very critical support levels when it stood at ~1.21, some 600 bps lower than the current ~1.29. We noted that if one were risk-asset bullish…
GOOG’s Day in the Sun is Likely Arriving with $1,000 in the Cards
Even as AAPL has risen some ~225% from its highs in 2007 GOOG shares are still DOWN 3% after peaking in the same year. We believe GOOG’s fortunes are in the process of changing as is the market’s perception of…
Long Gold / Short Equities Has Been a Generational Trade That Will Likely Continue
Since 1999 the ratio of the SPX vs. gold has declined 85%. That’s +485 bps annualized for somebody who was short the index and long gold the entire time. In the end, the logic for this trade remains quite simple:…
Coal Stocks are Up 13% Since Our Last Post on the Group
On August 9th we highlighted how oversold coal stocks were, with the DJ Coal Index down ~75% from its highs in 2011. We noted that similar sell-offs in the past have led to material rallies in the group. With the…
Technicals & Seasonals Suggest iPhone 5 Release Could Disappoint AAPL Investors
Chart below shows AAPL on a daily basis. On a more granular basis at inset (A) the stock appears to have broken down from a mild ascending wedge pattern yesterday formed by lines (1) and (2). On a longer-term basis at…...
Do Transports Always Have to Out-Perform to Confirm Overall Market Strength?
Much has been made of the recent under-performance in the DJ Transportation Index vs. the broader market as of late. However, as the chart below details, there is no tablet carved in stone with the words “Transports must always out-perform…
As the World Remains Enamored with China and the SSEC, Malaysian Equities are at All-Time Highs
The chart below is the Malaysian KLSE Compsosite index. It correlates quite will with the EWM ETF. In the chart below we can see the index has broken trend-line resistance (1) and is registering new all-time highs. It is currently in the…...
INTC’s Recent Decline Has Taken it To Trend-Line Support from its 2009 Lows
Self-explanatory chart below – INTC is now sitting on trend-line support from its 2009 and 2011 lows. Can we expect a bounce here for INTC and with it the semiconductor space in general – both have been beaten up badly…
Does the Potential for a Gold Rally Mean Silver Must Follow it Higher?
We are long gold and have been for weeks now following a break-out of trend-line resistance that was in place since the metal’s 2011 highs. Conspicuously absent from this long position has been a corresponding long position in silver or any…...
Nasdaq Attemping to Clear Key 12 Year Technical Milestone
Last week, as the chart below indicates, the Nasdaq Composite index appears to have finally cleared its 50% Fib retracement level formed between its highs in 2000 and lows in 2002. This is a big deal in our opinion – it’s taken the Nasdaq nearly…