The housing industry is key to the present recovery, but due to concerns about taper. It has posted irregular market action.
And there are a host of other indicators that bear watching.
Signs of strength in the economy may raise fears about an early taper which would bump interest rates..
Weakening in the economy would create other anxieties.
BOTTOM LINE:
There are a lot of decisions made this time that affect stock prices, which muddies the waters. institutions are adjusting portfolios for year-end presence. They want the big hitters up to impress new buyers, and by all means This week is a big deal economically – the roster below confirms that. They want to either hide losers or dump them. Investors will sell and buy for tax reasons. Stocks you think must go up, go down – vice-versa.
And, Don’t get sucked in buy those Year-End Forecasts..
Simply expect irregularity and be patient.
Investor’s first read– a daily edge before the open
DJIA: 16,064
S&P 500: 1,804
Nasdaq Comp. 3,991
Russell 2000: 1,124
Monday, Nov. 25, 2013
TIMING – OPPORTUNITY STOCKS
The following are based on technical analysis only and are not to be taken as buy or sell recommendations, but as one of many factors that must be considered in the decision process. Comments do not take into consideration earnings reports, or changes in institutional ratings, company guidance. Technical analysis is based on one’s interpretation of the impact buying and selling have on the price of a stock and is therefore not an exact science. News and events can change an interpretation instantly.
Apple (AAPL: $519.80) Positive.
AAPL’s three-week consolidation should be resolved up or down shortly Risk is $516, upside potential $528, then $538 .
Facebook (FB: $46.23) Positive
Two weeks ago there was a seller just short of $50. Last week the seller was at $47.25. FB got a flush Friday down to $46 where some buying showed up . This could be support, or the beginning of a quick spike down, followed by a rebound..
IBM (IBM: $181.30) positive/neutral
Its breakout from $186 to $181 cut IBM’s move upward short due a to Hedge fund short seller’s negative comments about IBM’ s future. Stock may slip to $179.35. Upside is currently limited $182.75.
Pulte Homes (PHM: $18.22) Positive
Optimism and doubts alternate each week about the direction of the housing industry
Yellen’s assurance before the Senate Banking Committee that she would pursue a accommodative Fed status going forward if she is confirmed as Fed Chair gives the bulls a leg up. PHM has spent 5 days digesting its sharp move up from $16.50. It may slip back to $17.50, then rebound
First Solar (FSLR:$60.19) Positive
Strong fundamentals and panicky short sellers have prompted one breakout after another. Year-end portfolio strategies most likely at work here, which could slow FSLR’s :”rush,”
Nike (NKE:$78.87 ) Positive
Another new high possible Nike headed for 80s. Support is now $78.30.
Hewlett-Packard (HPQ: $25.26) Positive.
Potential product recall of Chromebook II hammered HPQ last week, taking it down sharply. Company will have to define the impact of a recall primarily centered on an
overheating charger. Locked in narrow resistance/support channel between$24.85 and $25.60. breakout either way, call for a 2-point move,
Polaris Inds. (PII:133.74) Positive
Positive consolidation pattern . Support$132 , Resistance is $134.
Amazon (AMZN: $372.31) Positive
Raymond James’ Aaron Kessler recently raised his rating to Strong Buy from Market Perform. Kessler looks prescient as AMZN may be headed for $400.
Pandora Media (P:$29.23) Positive.
Friday’s action was close to a one-day reversal. As I have written there are parties who love this stocks and parties who hate it.
Today will give us a read on whether P’s positive status is well deserved.
THE ECONOMY: HUGE !
Prior to Vice Chair Janet Yellen’s Senate Banking Committee confirmation hearing last week, there was a concern for an early taper. Her testimony seemed to assure the Street that the Fed will continue to accommodate the economic recovery if she becomes chairman. For detailed analysis of both the U.S. and Foreign economies along with charts, go towww.mam.econoday.com. Also included is an explanation of each indicator. If you want to know when the next Employment report or any other key report will be released that info is also there under “event release date.”
The economy is again a major impact factor of the stock and bond market since it stands to dictate Fed policy change.
MONDAY:
Pending Home Sales Ix. (10:00)
Dallas Fed Mfg Svy (10:30)
TUESDAY:
IcSc Goldman Store Sales (7:45)
Housing Starts (8:30)
FHFA House Price Ix, (9:00)
S&P Case-Shiller HPI (9:00)
Consumer Confidence (10:00)
Richmond Fed. Mfg Ix, (10:00)
WEDNESDAY
Durable Goods (8:30
Jobless Claims (8:30)
Chicago Fed Nat’l Activity Ix. (8:30)
Chicago PMI (9:45)
Consumer Sentiment(9:55)
Leading Indicators (10:00)
THURSDAY
Thanks giving day off.
FRIDAY
Fed Balance Sheet 4:30
RECENT POSTS – 2013
Nov 6 DJIA 15,618 “Bulls Hold the Edge, But What About Interest Rates ?
Nov 7 DJIA 15,747 “Early Profit Taking or Warning of a Correction ?”
Nov 8 DJIA 15,593 “Time for the Street to Get Off the Fed Teat”
Nov 12 DJIA 15, 761 “The Economy, Interest Rates, The Fed, Stock Market”
Nov 12 DJIA 15,783 “Get Ready for Year-End Cross Currents”
Nov 13 DJIA 15,750 “Money Manager Dilemma – Your Problem, as Well
Nov 14 DJIA 15,821 “Feeding Frenzy in 2014’s Winners ? Big Day for “TECH
WATCH” Stocks”
Nov 15 DJIA 15,876 “Yellen – No Taper – Surprise January Correction ?
Nov 18 DJIA 15,961 “Green Light to Load Up on Stocks ?
George Brooks
“Investor’s first read – an edge before the open”
*STOCK TRADERS ALMANAC: The new annual Stock Trader’s Almanac is off the press. This is a “must,” always has been, if you are a serious investor, or intend to be a serious investor. Visit stocktradersalmanac.com for details
……………………………………………..
The writer of Investor’s first read, George Brooks, is not registered as an investment advisor. Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. Readers are expected to assume full responsibility for conducting their own research pursuant to investment decisions in keeping with their tolerance for risk. Brooks may buy or sell stocks referred to herein.
The housing industry is key to the present recovery, but due to concerns about taper. It has posted irregular market action.
And there are a host of other indicators that bear watching.
Signs of strength in the economy may raise fears about an early taper which would bump interest rates..
Weakening in the economy would create other anxieties.
BOTTOM LINE:
There are a lot of decisions made this time that affect stock prices, which muddies the waters. institutions are adjusting portfolios for year-end presence. They want the big hitters up to impress new buyers, and by all means This week is a big deal economically – the roster below confirms that. They want to either hide losers or dump them. Investors will sell and buy for tax reasons. Stocks you think must go up, go down – vice-versa.
And, Don’t get sucked in buy those Year-End Forecasts..
Simply expect irregularity and be patient.
Investor’s first read– a daily edge before the open
DJIA: 16,064
S&P 500: 1,804
Nasdaq Comp. 3,991
Russell 2000: 1,124
Monday, Nov. 25, 2013
TIMING – OPPORTUNITY STOCKS
The following are based on technical analysis only and are not to be taken as buy or sell recommendations, but as one of many factors that must be considered in the decision process. Comments do not take into consideration earnings reports, or changes in institutional ratings, company guidance. Technical analysis is based on one’s interpretation of the impact buying and selling have on the price of a stock and is therefore not an exact science. News and events can change an interpretation instantly.
Apple (AAPL: $519.80) Positive.
AAPL’s three-week consolidation should be resolved up or down shortly Risk is $516, upside potential $528, then $538 .
Facebook (FB: $46.23) Positive
Two weeks ago there was a seller just short of $50. Last week the seller was at $47.25. FB got a flush Friday down to $46 where some buying showed up . This could be support, or the beginning of a quick spike down, followed by a rebound..
IBM (IBM: $181.30) positive/neutral
Its breakout from $186 to $181 cut IBM’s move upward short due a to Hedge fund short seller’s negative comments about IBM’ s future. Stock may slip to $179.35. Upside is currently limited $182.75.
Pulte Homes (PHM: $18.22) Positive
Optimism and doubts alternate each week about the direction of the housing industry
Yellen’s assurance before the Senate Banking Committee that she would pursue a accommodative Fed status going forward if she is confirmed as Fed Chair gives the bulls a leg up. PHM has spent 5 days digesting its sharp move up from $16.50. It may slip back to $17.50, then rebound
First Solar (FSLR:$60.19) Positive
Strong fundamentals and panicky short sellers have prompted one breakout after another. Year-end portfolio strategies most likely at work here, which could slow FSLR’s :”rush,”
Nike (NKE:$78.87 ) Positive
Another new high possible Nike headed for 80s. Support is now $78.30.
Hewlett-Packard (HPQ: $25.26) Positive.
Potential product recall of Chromebook II hammered HPQ last week, taking it down sharply. Company will have to define the impact of a recall primarily centered on an
overheating charger. Locked in narrow resistance/support channel between$24.85 and $25.60. breakout either way, call for a 2-point move,
Polaris Inds. (PII:133.74) Positive
Positive consolidation pattern . Support$132 , Resistance is $134.
Amazon (AMZN: $372.31) Positive
Raymond James’ Aaron Kessler recently raised his rating to Strong Buy from Market Perform. Kessler looks prescient as AMZN may be headed for $400.
Pandora Media (P:$29.23) Positive.
Friday’s action was close to a one-day reversal. As I have written there are parties who love this stocks and parties who hate it.
Today will give us a read on whether P’s positive status is well deserved.
THE ECONOMY: HUGE !
Prior to Vice Chair Janet Yellen’s Senate Banking Committee confirmation hearing last week, there was a concern for an early taper. Her testimony seemed to assure the Street that the Fed will continue to accommodate the economic recovery if she becomes chairman. For detailed analysis of both the U.S. and Foreign economies along with charts, go towww.mam.econoday.com. Also included is an explanation of each indicator. If you want to know when the next Employment report or any other key report will be released that info is also there under “event release date.”
The economy is again a major impact factor of the stock and bond market since it stands to dictate Fed policy change.
MONDAY:
Pending Home Sales Ix. (10:00)
Dallas Fed Mfg Svy (10:30)
TUESDAY:
IcSc Goldman Store Sales (7:45)
Housing Starts (8:30)
FHFA House Price Ix, (9:00)
S&P Case-Shiller HPI (9:00)
Consumer Confidence (10:00)
Richmond Fed. Mfg Ix, (10:00)
WEDNESDAY
Durable Goods (8:30
Jobless Claims (8:30)
Chicago Fed Nat’l Activity Ix. (8:30)
Chicago PMI (9:45)
Consumer Sentiment(9:55)
Leading Indicators (10:00)
THURSDAY
Thanks giving day off.
FRIDAY
Fed Balance Sheet 4:30
RECENT POSTS – 2013
Nov 6 DJIA 15,618 “Bulls Hold the Edge, But What About Interest Rates ?
Nov 7 DJIA 15,747 “Early Profit Taking or Warning of a Correction ?”
Nov 8 DJIA 15,593 “Time for the Street to Get Off the Fed Teat”
Nov 12 DJIA 15, 761 “The Economy, Interest Rates, The Fed, Stock Market”
Nov 12 DJIA 15,783 “Get Ready for Year-End Cross Currents”
Nov 13 DJIA 15,750 “Money Manager Dilemma – Your Problem, as Well
Nov 14 DJIA 15,821 “Feeding Frenzy in 2014’s Winners ? Big Day for “TECH
WATCH” Stocks”
Nov 15 DJIA 15,876 “Yellen – No Taper – Surprise January Correction ?
Nov 18 DJIA 15,961 “Green Light to Load Up on Stocks ?
George Brooks
“Investor’s first read – an edge before the open”
*STOCK TRADERS ALMANAC: The new annual Stock Trader’s Almanac is off the press. This is a “must,” always has been, if you are a serious investor, or intend to be a serious investor. Visit stocktradersalmanac.com for details
……………………………………………..
The writer of Investor’s first read, George Brooks, is not registered as an investment advisor. Ideas expressed herein are the opinions of the writer, are for informational purposes, and are not to serve as the sole basis for any investment decision. Readers are expected to assume full responsibility for conducting their own research pursuant to investment decisions in keeping with their tolerance for risk. Brooks may buy or sell stocks referred to herein.
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