The Chart of the Day belongs to The John Hancock Premium Dividend Fund (PDT). I found the closed end income fund by using Barchart to sort the All Time High list first for the most frequent new highs in the last month, then again for technical buy signals above 80%. I used the Flipchart feature to review the charts for…
Behold Och-Ziff Capital Management (ahem). I had to change the orientation of the brag-statement in order to make it conform to the broad direction of their stock price.
USDCHF: The pair may have closed marginally the past week but continues to hold on to its downside pressure medium term. On the downside, support lies at the 0.9500 level. A turn below here will open the door for more weakness towards the 0.9450 level and then the 0.9400 level. Its weekly RSI is bearish…
Does anyone really believe this is sustainable? Chart: Bloomberg The longer the ‘visible’ hand of stabilization maintains the mirage, the bigger the inevitable collapse. Simply put, anything that can end, will! And in this case, badly…
Biotech Rally Loses Momentum But Still Up for the Week IBB up 3.37 % , XBI up 5.04% , XLV up 0.77% this week. Investors took profits today despite all of the media focus and renewed excitement for the long-term potential of new blockbuster drugs. The rally began Wednesday with the news that the $160B…
Well, I just can’t resist the “freeze” nonsense emanating from rumormongers and trading algos to squeeze shorts once again. It must be the 6th or 7th time this lame nonsense has hit the tape. Sure, today the rig count dropped to near record lows. This should raise prices once again, but once again it’s the…
Precious metals expert Michael Ballanger discusses the tug-of-war going on between the Japanese yen and the U.S. dollar/Chinese yuan, and its effect on precious metals. The epic battle between the bears and bulls rages on with this completely annoying seesaw action all dominated by the short-term interventions in the Japanese yen versus the U.S. dollar/Chinese…
From a global standpoint, the big news today was the rally in oil. with West Texas Intermediate Crude Futures up over 6% for the day. European equity index traded higher on oil price optimism with the Euro STOXX 50 gaining 1.41%. US indexes appeared to follow the global trend, The S&P 500 rallied at the…
You have to wonder whether there are any carbon units left in the casino. The robo traders and HFTs, of course, have an attention span of 10 milliseconds. So their utter lack of concern about context, fundamentals and history is readily explainable. They never get around to it. But somebody besides the machines is getting paid the big…
