In a stunning rebuke of Preet Bharara’s insider-trading prosecutions record, Businessweek reports a federal appeals court overturned and threw out the guilty verdicts of two hedge fund managers, Todd Newman and Anthony Chiasson, ruling jury instructions tainted their verdicts and imperiling other cases brought in his multiyear probe. In a 28-page decision that could rewrite the course of insider…
Junk bonds have been selling off rather dramatically lately and are now testing their October lows. This stands in stark contrast to the strength in stocks which are just off of their all-time highs. This divergence stands out because both asset classes are typically very closely correlated due to the fact that they appeal to…
I may expect a few bad trading days. I may even believe that we are likely to see a modest pullback of 3%-4% in U.S. equities before Santa reinvigorates the rally. Nevertheless, a variety of indicators are foreshadowing danger – the same coal mine canaries that preceded the September-October sell-off. For example, high yield corporate…
Note: We should never mindlessly ape the investment moves of others, no matter how good their long-term track record might be. I do, however, take their moves into consideration and view them as a useful starting point for further research. The Direxion iBillionaire Index ETF (IBLN) is about to get a quarterly overhaul. Its underlying index announced it latest rebalancing…
Over the past week, there were so many pundits noting the poor decision by OPEC and that the market will continue to spiral down. As I worked on refreshing my oil price forecast given this market change, the remarkable difference is that there is not much difference in the forward curve. Yes we have a…
I live in Houston, which has been a huge economic beneficiary of the sustained increases in oil prices, drilling, refining and related processes. As such, the amount of wealth created in energy-related investments has been enormous and, not surprisingly, a vast majority of individuals have overweighted portfolios in energy with the expectations that “oil prices can…
Today I used Barchart to sort the S&P 500 Large Cap Index stock to find the one with the most frequent new highs in the last month. Today’s sort yielded Omnicom Group (NYSE:OMC): Barchart technical indicators: 72% Barchart technical buy signals Trend Spotter buy signal Above its 20, 50 and 100 day moving averages 17 new highs and up…
On Dec 5, 2014, we issued an updated research report on Raven Industries Inc. (RAVN – Analyst Report). The company is poised to benefit in fiscal 2015 from its objectives as well as acquisitions. However, the North American agricultural equipment environment will remain sluggish in the near term and in turn hurt Raven’s growth. Notably, Raven will benefit from…
Click on picture to enlarge When Crude Oil was trading “above” $90, the Power of the Pattern suggested that the most important commodity on the plant could trade at least down to $70, due to this important pattern. (see post here) Joe Friday shared a few weeks ago, that if Crude were to break below this…
Well, I can’t, but maybe you are better at it. Before going on vacation I closed my Diana Containerships (DCIX) position with a huge loss of more than 60%. When I bought it in March 2013, it looked like a reasonable investment. The world Economy was recovering, and trade, especially trade in finished goods, was…
