The biotech sector is in one of the biggest bubbles since the Dot.com era. Some of the largest biotechnology companies in the world have doubled and tripled their size in the last year. One such stock is Gilead Sciences, Inc. (NASDAQ:GILD). The stock is hovering up 100% from its lows a year ago and has a market cap of $128 billion. Reasons For The Short: 1....
Traders and investors will look at many different leading stock indexes and sectors for clues to what the economy will do. For example, there are many traders that will strictly follow the transportation sector as a leading indicator. After all, if the transportation stocks are rising, that is a good sign that the economy is growing and expanding. Over the past 20...
International Business Machines Corp. (NYSE:IBM) is slamming into a key level of resistance. This level is at $181.15. Please note the chart below to see the trend line for yourself. Based on this resistance level and multiple other factors, IBM is an easy short here for a multi-day pullback. A $177.00 target can be used. Enjoy and profit for life. Gareth...
A majority of earnings from retailers have been horrid this quarter. Whether it is Lululemon Athletica inc. (NASDAQ:LULU), Sears Holdings Corp (NASDAQ:SHLD) or Elizabeth Arden, Inc. (NASDAQ:RDEN), there has not been many bright spots. One stock that gave Wall Street a surprise was Abercrombie & Fitch Co. (NYSE:ANF). After reporting, the stock surged from $33.21 to...
Note the chart, it shows you exactly where we traded the SPY over the past month. This analysis of the SPY also revealed other great trades on both the long and short side of the markets. This was all based on reading the charts. Proper chart reading is the one and only consistent way you can learn to locate the best moves, before they happen; not the news, not...
Almost every day we hear how great all of the mobile providers are in commercials running continuously on Television and other media outlets. For a while now, leading mobile telecom provider Verizon Communications Inc. (VZ) has been the king of the hill. The other leading mobile telecom companies have been, AT&T, Inc. (T), and Sprint Corporation (S). A year ago...
Today, most of the leading oil refinery stocks have been declining throughout the trading session. Some of the leading oil refinery stocks that are coming under selling pressure include, Marathon Petroleum Corporation (MPC), Valero Energy Corporation (VLO), Phillips 66 (PSX), and Tesoro Corporation (TSO). Day traders can look for near term intra-day chart support...
The markets surged higher today for the second day in a row. The S&P 500 hit a new all time high before noon. Many investors are wondering if it is time to buy the markets again, prior to another leg higher. The pros are watching one thing and one thing only. The closing price on the S&P 500. Does the S&P 500 close at a new all time high or does it close below...
J.C. Penney Company, Inc. (NYSE:JCP) is currently trading at $7.57, -0.62 (-7.63%). It is a screaming buy in my opinion because of one main reason. This morning, the company affirmed previous guidance. The stock has sold off on that news. Why? Great question! Most likely because the street was hoping for them to raise guidance. This has created one of the best...
I am going to keep it extremely simple. The last day of 2013 saw the S&P 500 hit a new all time high of 1,849.44. The first day the stock market was open in 2014 saw the markets sell, with the S&P 500 hitting a low of 1,827.74. That range became key to the markets and the future direction. Any close on the S&P 500 below 1,827.74 would be viewed as bearish near...
Gold has been one of the most hated commodities in the world since it peaked in September 2011 at $1923.70 an ounce. At that time, the precious metal was upgraded by J.P. Morgan Chase to $2500 an ounce. As many of you already know, when a major firm upgrades a stock or commodity at an extreme high, it is usually a top in that market. Today, the price of gold is...
Many solar stocks have been crushed lately, coming off epic moves to the upside. As light, holiday volume takes over, these stocks should see buying into the end of hte year. Many of these stocks have pulled back into key technical levels as well. For instance, take a look at the First Solar, Inc. (NASDAQ:FSLR) chart. It has pulled back into the 200 day moving...
Tesla Motors Inc (NASDAQ:TSLA) is consolidating throughout the lunch time period as the markets have fallen. This consolidation pattern is bullish and with the market weakness, it signals upside soon, on any market bounce. Look for a pop intra day on TSLA to the $144.25 level, then $145.15 and $146.00. Gareth Soloway Chief Market Strategist www.InTheMoneyStocks.com
Icahn Enterprises LP (NASDAQ:IEP) Into Support: Bounce Likely... watch the level noted in the chart closely....
Almost everyone in the financial media has been talking about the yield on the 10-year U.S. Treasury Note. When the yield moves higher, the home-builder stocks, real estate investment trusts (REITs), and the utility sector will usually suffer. All of these important sectors are very sensitive to higher interest rates. Today, the leading home-builder stocks such...
Best Buy Co., Inc. (NYSE:BBY) has a classic daily bear flag. This signals a short in this area. Downside target is $36.25 and $30.00.
3M Co (NYSE:MMM) has been crushed over the last couple days. While many are too scared to step up for a swing trade, I am watching the daily 50 moving average and the $124.70 level. Should this point be hit today or tomorrow (only), a long swing trade is likely to pay profits. Look for a $2.00-$3.00 bounce should the $124.70 level be tagged. Gareth Soloway Chief...
The commodity corn has taken a big hit in 2013. As it has plummeted, many have started to look for a potential bottom, an entry price to go long. It is looking more and more likely that bottom is at hand. Take a look at the weekly chart of Teucrium Corn Fund (NYSEARCA:CORN). This is an ETF that tracks corn. Please note that four weeks ago a bottoming tail was put...