Now you can rediscover how to play the game and trade in harmony with the “Smart Money” Composite Operator as we make available the educational presentation archives Video Rating: 5 / 5
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The stock chart is holding PCY a solid basis in the range of 90 cents, driving not only break through a trendline, but resistance at .10. A giant cup and handle, the handle is in a double bottom pattern. It seems that if this resistance can be broken level that the stock price will try to make a run at the old level, created in November 2010, on the outbreak of the cup with a targeted patterns.
to act as Google stock as a pro? A technical analysis of a very volatile stock. Trading preparing for a consistent winning trades. This video is provided for educational purposes only. Video Rating: 0 / 5
Today I look at the dead action of the SPY. We fell down around 0.2% on the S&P but the volume just wasn’t there. Even though the fall accompanied by some volume came in late action today, it looks like we are forming a bull flag and the 898-899 level will be where most bulls will pile in. I do not recommend going short until we break the 200 SMA 10 minute which sits around 896, and maybe even potentially going long at 898.50 with a stop there. The bulls can take this market up higher to the 940 level which will coincide with the 200 SMA once the financials join the rally, as they seemed to be lagging today, after a spectacular day yesterday. The dead volume, reminds me a lot of the rally towards january 6th, where we topped out on very little volume to push back lower. I also look at the XLF, GS and SRS. Video Rating: 5 / 5
Today we look at the patterns that are showing up and what to expect into next week. I reveal my larger positions and the hedges that are placed in for next week. A potential downside of 3% or more remains as we try to aim for the support levels of the megaphone and wedge formations. I also look at the XLF, SPY, Dow Jones, GLD, AXP and AMZN.
Home Page > Finance > Merry Christmas Stock Chart for Retailers this Year
Merry Christmas Stock Chart for Retailers this Year
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Posted: Oct 25, 2010 |Comments: 0
Consumers are returning to the showrooms and buying cars again. They are cautious, they are looking for a deal, but they are buying. And that’s the most important thing. But it’s not just cars that consumers are buying.
Once the government’s “cash for clunker” program to spur U.S. analysts were concerned that car sales would plummet as car sales ended. The opposite occurred.
In fact, auto sales are booming. For September 2010, General Motors posted an 11% rise in units sold, Ford sales were up 41%, Chrysler sales were up an astonishing 61% and the world’s biggest car maker, Toyota, said that its September unit sales were up 17% from September, 2009. How’s that for growth!
Consumers are returning to the showrooms and buying cars again. They are looking for a deal, they are cautious, but they are buying. And that’s the most important thing. But it’s not just cars that consumers are buying.
The U.S. Commerce Department said on Friday that consumer spending in the U.S. rose 0.4% in August, more than the Street had been predicting. So, what does this mean? It means that you should expect U.S. retailers to have a better-than-expected Christmas season.
Veteran readers of my column know that I’m a big believer in stock charts. To me, a stock chart can tell the story six to 12 months out. A look at the Dow Jones Retail Index shows a mini bull market. This index was one of the biggest winners in September, up 13% for the month. This stock chart says that Santa will make it a Merry Christmas for retailers this year.
Consumer spending makes up 70% of the U.S. economy. These consumers are buying again, both big-ticket items like cars and small-ticket items like retail products. If it were not for the overhang of the U.S. housing market, given the continued accommodative stance of the Federal Reserve, this economy would actually be booming.
Michael’s Personal Notes:
An article in The New York Times this weekend covered a topic that our government is likely not happy to hear about: corporations, instead of spurring the economy with capital investments to create jobs, are hoarding their cash. U.S. corporations now sit on about .6 trillion in cash.
I wrote about this in PROFIT CONFIDENTIAL a couple of months ago. Still worried about the economy, big companies prefer to keep their cash instead of investing it in new equipment, buying competitors or launching new products/services. And, in an effort to add to their cash hoards, companies are actually borrowing money they really don’t need, as they can access cash at record cheap costs.
Morals are not what i’m here to comment on.S. companies hoarding cash as opposed to spending it to spur the economy, as an avid stock market watcher, I see the hoarding of cash by these companies as a good thing. The stock market loves to climb a wall of worry. And when you have U.S. corporations sitting on a record amount of cash during a recession, it means that these companies are still very worried about the economy. The more worried they are, the higher I believe stock prices will rise.
The cash these companies are hoarding is actually a built-in back-stop for the stock market. In the event the market crashes or begins its bearish descent to Dow Jones 6,440 (the low from March 2009), these companies will have ample cash on hand to initiate stock buyback programs to protect their stock prices.
Where the Market Stands:
While investment newsletter writers and stock advisors are feeling somewhat more comfortable with stocks give the best September we’ve had for stock since 1939, caution still prevails. I read one well-known newsletter this weekend that was very bearish on stocks for the majority of its 10 pages.
I believe the stock market will continue to rise on the backdrop of this negativity. The Dow Jones Industrial Average opens this morning up 3.9% for the year. I remain convinced that the bear market rally that started in March 2009 remains intact.
What He Said:
“Recipe for Catastrophe: To me, the accelerated rate at which American consumers are spending, coupled with the drastic decline in the amount of their savings, is a recipe for a financial catastrophe.” Michael Lombardi in PROFIT CONFIDENTIAL, September 7, 2005. Long before anyone else Michael started talking about and predicting the financial catastrophe
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http://www.profitconfidential.com Welcome to Profit Confidential – Your Online Source for Stock Market News, Picks and Tips Stock Chart Says Very Merry Christmas for Retailers this Year
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