Financials Oversold Ahead of Key Earnings Reports
JPMorgan Chase & Co (NYSE: JPM) and Wells Fargo & Company (NYSE: WFC) will report earnings today and both stocks are oversold on a number of indicators. Oversold stocks can react bullishly to small surprises and earnings reports could be the catalyst for a large move. Direxion Financial Bull 3x Shares (NYSE: FAS) is a […]
Data Release Could Push Retailers Higher
Retailers have been under pressure after several large companies reported disappointing sales for December. As a group, the sector is now oversold and SPDR S&P Retail ETF (NYSE: XRT) starts trading on Monday with a PowerRatings of 10. Economic data scheduled for release on Tuesday could be a catalyst for the retail sector. The Census […]
TMV Could Bounce on Unemployment Report Volatility
The monthly unemployment report often leads to volatility in the stock and bond markets. Treasuries could provide a trading opportunity with Direxion Daily 20+ Yr Treasury Bear 3X Shares (NYSE: TMV) signaling a potential buy. Treasuries have traded within a relatively narrow range in the past few weeks as the interest rate on the ten-year […]
Selloff Pushes NFLX to Oversold
Netflix (NASDAQ: NFLX) sold off after Morgan Stanley downgraded the stock. Investors have been nervous about the valuation of NFLX for months and despite those concerns, the stock gained more than 310% in 2013. The occasional pullbacks in the stock that occurred last year proved to be buying opportunities. After this week’s selloff, NFLX is […]
Emerging Markets Oversold After Goldman, JP Morgan and Morgan Stanley Downgrades
According to Bloomberg, major Wall Street firms are bearish on emerging markets. Their bearishness extends to equities, fixed income markets and currencies. Bloomberg reported, “Goldman Sachs Group Inc. recommends investors cut allocations in developing nations by a third, forecasting “significant underperformance” for stocks, bonds and currencies over the next 10 years. JPMorgan Chase & Co. […]
SPY Becomes More Oversold
SPDR S&P 500 (NYSE: SPY) closed down for the third day in a row yesterday and ended trading with a PowerRatings of 9. SPY is the only major stock market index ETF that is oversold. It is possible the current market selloff will continue until it is confirmed by other indexes. It is also possible […]
TradingMarkets Trend Following Summit 2014
Join Larry Connors for TradingMarkets 1st Trend Following Summit Learn How To Capture Major Long-Term Trends on Both the Long Side and Short Side Large institutional investors tend to find most of their success by investing in Blue Chip stocks that lead to low volatility and consistent returns. Investing in brand name companies like Visa, […]
Three Buy Signals to Start 2014
PowerRatings continues to show there are few trading opportunities available in the current market but the situation is improving. Heading into today’s trading, there are two stocks priced at $5 or more with a PowerRatings of 10. Only four stocks priced above $5 have a PowerRatings of 9. The stocks with a PowerRatings of 10 […]
Stock Market Approaching Oversold Extreme
PowerRatings can be used to find trading opportunities. Heading into today’s trading, there are few trade signals. On the long side, there are no stocks priced at $5 or more with a PowerRatings of 10. Only five stocks priced above $5 have a PowerRatings of 9. No ETFs or leveraged ETFs have PowerRatings above 8. […]
Gold Joins Silver as a Potential Trading Opportunity
Heading into Friday’s trading, ProShares UltraShort Silver (NYSE: ZSL) was a potential buy candidate with a PowerRatings of 8 and a ConnorsRSI reading of 17.19. Intraday, ZSL continued to display weakness and the trade could have been entered near the day’s low after a 3% pullback. ZSL continues to be a potential buy and additional […]
US Stock Market Closed on New Year’s Day
The US Stock Market will be closed on the following date: January 1,2014 Upcoming Stock Market Holiday Calendar 2014 New Years Day January 1 Martin Luther King, Jr. Day January 20 Washington’s Birthday February 17 Good Friday April 18 Memorial Day May 26 Independence Day July 4** Labor Day September 1 Thanksgiving Day November 27* […]
Silver Offers Trading Opportunity
Precious metals have had a difficult year. SPDR Gold Shares (NYSE: GLD) is down almost 28% since the beginning of 2013 and iShares Silver Trust (NYSE: SLV) has fallen more than 35%. While the long-term outlook in these markets remains uncertain, a potential buying opportunity has developed in silver. A small rally in the past […]