Shares of United States Steel Corporation (NYSE:X) are on the move higher today to the tune of 9%. The steel maker said its Canadian subsidiary filed for bankruptcy and also said Q3 earnings are projected to be "significantly higher" than the consensus estimates. While this news is very good and obviously being received with cheers, the contrarian in me is looking...
High beta stocks are on the move today, and not in the good direction for those who are on the long side. Salesforce.com, inc. (NYSE:CRM) is also seeing red as there is news of some insiders selling in recent days. The stock had been down well over 3% earlier, and this is coming on the heels of a decent decline on Friday. As a pro trader I look at the chart and I...
Restoration Hardware Holdings Inc (NYSE:RH) reported earnings on Thursday, which were received with mixed feelings. The company came out with weaker sales numbers and more importantly weaker guidance. With such a downbeat report, one would think that this stock would have sold off more than the 2% that it did. However, it held a key level which could only be seen...
GoPro Inc (NASDAQ:GPRO) has been one of the hottest stocks around lately and has gone parabolic. I advised traders and investors that this equity was going to $71.15 (read here). Today GoPro Inc (NASDAQ:GPRO) got as high as $70.90 just shy of my target. This name is very volatile and if today is indeed the top then we could see a massive drop. There will be...
The price of crude oil has been in a downtrend now for about 3 months. With this decline, oil stocks such as Canadian Natural Resource Ltd (USA) (NYSE:CNQ) have also come down in price. In fact, this equity has fallen roughly 13% from its peak back on July 1. However, the thing that really interests me is the pattern that is being formed on the daily chart. It is...
Over the last several weeks, the British Pound as seen by Guggenheim CurrencyShares British (NYSEARCA:FXB), has seen a tremendous decline. The currency pair of GBP/USD has had a terrible summer as it peaked out in July, at a high of $1.719 and currently resides at just about $1.60. In the currency world, that is almost defined as a currency crisis. This decline is...
Shares of GoPro Inc (NASDAQ:GPRO) are moving up nicely to the tune of around 7% today. The camera and accessories/social media company, is up today as a brokerage firm has initiated coverage on it. GoPro Inc (NASDAQ:GPRO) has been on a tear ever since its stock began trading in the open markets back on June 26. This equity is up well over 100% from its low of...
The biotech sector has had an amazing run in 2014, and you could say that Gilead Sciences, Inc. (NASDAQ:GILD) has lead the charge. The biopharma company is up roughly 40% year to date, and this is after an amazing 100% return for investors in 2013. One could say this is a can't miss stock and rewards its shareholders extremely well. I am not trying to take...
The days of Lululemon Athletica inc. (NASDAQ:LULU) being the high flying stock that Wall Street loved seem so long ago. The popular yoga and athletic apparel maker, has sure seen better days as the share price has been cut in half over the past year. The stock hit an all time high of $82.50 back in June 2013, but has since been in a steady decline and currently is...
The technology sector is seeing some selling pressure today and the largest tech stock, Apple Inc.(NASDAQ:AAPL) is leading the charge lower. The popular device maker is set to unveil the much anticipated iPhone 6 next week. However, with today's price action it sure does seem like that. Apple Inc. (NASDAQ:AAPL) deflected all the criticism of the potential iCloud...
Gaming companies are really taking it on the chin today as more bad news is coming out of Macau, and revenues continue to fall. Shares of Las Vegas Sands Corp. (NYSE:LVS) are no exception, as they are being taken down over 6%. LVS has had a terrible 2014 and the stock has entered into bear market territory, as it is down well over 20% from its high set back in...
Today shares of software maker Splunk Inc (NASDAQ:SPLK) are soaring by around 20% as the company came out with earnings and guidance that the street is loving. The stock had a gap up higher and has basically gone up all day with minor pullbacks, which are probably points where traders and investors are taking profits. As a pro trader who makes a living from day...
The stock price for Amazon.com, Inc. (NASDAQ:AMZN) hit an all time high of $408.06 back on January 22, of this year. This equity was considered to be the teflon play on Wall St. It seemed like anybody who tried to short it was met with a rude awakening, as the share price just kept climbing higher. Anyone who ever tried to come up with a fundamental case against...
Back on July 17 of this year shares of SanDisk Corporation (NASDAQ:SNDK) took a nose dive and had a single day drop of 14%! Bulls of the data storage company were sure left out in the cold on that summers day. Over the past month SanDisk Corporation (NASDAQ:SNDK) share price has slowly moved higher but by no means is it near its all time high of $108.77. The...
A few weeks ago Rockwell Automation (NYSE:ROK) came out with earnings and the stock got rocked. It had a single day decline of over 5% and shareholders of this name were none to pleased. The share price of the industrial automation company continued to fall for another couple of days before finding a low at $109.80. Since that low was put in, Rockwell Automation...
The precious metals have come under some decent selling pressure, as GOLD is trading around $1275/oz. Following suit are the gold miners and Agnico Eagle Mines Ltd (USA)(NYSE:AEM) is no exception, as it is down nearly 4.5%. This weakness has peaked my interest as a pro trader and will be looking for a good entry point, for a long side trade. On the chart below...
The S&P 500 made a low of 1904.78 on August 7, and has basically gone straight up since that day. If you look at the chart, it has formed a perfect "V" and is looking to challenge its all time high of 1991.39. The Nasdaq has definitely lead the charge higher, crossing the 4500 mark for the first time in 14 years! While the markets have moved higher, I notice that...
Over the last several weeks we have seen the yield on the 10 year note trend lower and get to levels not seen in a year. This has taken a toll on insurers like Metlife Inc (NYSE:MET), as the stock had fallen a sharp 11% over the month of July. This was due in part to lower interest rates and a declining stock market. Shares of Metlife Inc (NYSE:MET) have had a...