Adding to Profitable C-Store Position
On May 28 we suggested buying PTRY when it stood at ~$16 based on its technical and potential fundamental set-up. Since then it is +25% to nearly ~$20. The SPX is +1.4% over the same period. In our original post we…...
SPX Technicals
If yesterday’s post is correct, and the market needs to fall per the 4th/5th/6th consecutive gain analog, just like it did from July-October 1990, then we need to think about potential downside targets. Again, these targets assume that yesterday’s thesis…...
August 1990
U.S. equities are at a very critical juncture. Though I have repeatedly pronounced that “risks remain to the upside” this year, nowhere on the site have I suggested or openly advocated a major over-weight in any type of index-related ETF…...
Analog Update
Abnormal days that jolt the spirit of the market’s existing trend, like yesterday’s ~200 bps loss, are good points in time to do a broad analog update. Here’s the 4th-5th-6th consecutive annual gain analog. Haven’t shown it in quite a…...
U.S. Rate Structure Set to Move Higher
Had a recent post on the 10-yr bond that suggested a break-down in prices (and rise in rates) was very close. That prognostication has yet to materialize. Having said that, I’m no less convinced that it will indeed materialize; it’s…...
Pity the Fool?
Pity the fool that doesn’t buy Mr. T, as in AT&T? In the charts below with T pressing a break-out of ~15-yr resistance line (1a) this morning in the left pane on the heels of WIN’s decision to spin out…...
Nikkei 225 Components Tearing Through Quarter-Century Resistance to Upside
In the chart below I present a handful of Nikkei 225 components that are tearing through quarter-century resistance via upside break-outs. In each case this resistance dates back to the stocks’ all-time highs coinciding with the Nikkei’s own all-time high…...
Triggers to the Next Leg of the Nikkei Run
Last night Japan’s CPI printed +3.6% YoY in June, down from 3.7% YoY in the prior month, but holding steady at near 23 year highs per the chart below. This is key and core to our ongoing Japan/Nikkei thesis –…...
Semi Out-Performance Thesis Has Reached a Critical Juncture
We’ve been vocal proponents of over-weighting semis vs. the broader market this year and thus far, that trade has paid off handsomely. For instance, INTC, the group bellwether, has outperformed both the SPX and Nasdaq by 26% YTD. Having said…...
Additional Mega-Cap Break-Out
EMC breaking above and out of a long-term flag/consolidation pattern this week b/t lines (1) and (2) on heels of a push by a large activist fund to break company up and spin off VMW. Similar to all the other…...