There was some spill over from yesterday’s after hours disappointment in Apple (AAPL), but after a weak open, bulls were able to mount some challenge by close of business. However, today’s close was still below that of yesterday and registered as distribution. Hardest hit was the Semiconductor Index. It experienced a gap down, shedding 2.5%,…
Allow me to limber up while I pat myself on the back – – or at least pat technical analysis on the back – – because, earlier today, I was vaguely remembering I had written a post that said something like “oil producers are the new gold miners”. With oil producers plummeting so consistently, I…
The last two earnings reports for Apple Inc. (NASDAQ:AAPL) have been out of this world. In January, the tech company posted an $18 billion profit, its strongest quarter by far, thanks to the release of the iPhone 6 and iPhone 6 Plus. Apple followed up it up its second-best quarter in terms of profit, raking in $13.6 billion, an impressive 27.2% jump…
Shares of Xoma (XOMA) are trading down 77% at Wednesday’s close after reporting failed results of its phase 3 trial in patients with Behcet’s disease Uveitis — a rare eye disease. The phase 3 trial is known as the EYEGUARD-B trial run by a French Pharmaceutical company known as Servier. Patients in the study were…
“Behold, the pay of the laborers who have worked your fields, and which has been withheld by you, cries out against you; and the suffering of those who have done the harvesting has reached the ears of the Lord of hosts.” James 5:4 July and August are certainly not traditional months in which to see…
Uncle Buck popped above key resistance at 98 the other day and unsurprisingly turned down. The thing is though, he made a higher high and at least theoretically keeps a fledgling uptrend intact. It is more important at this point to get the higher high than it was to hold it for the short-term. I…
I’m starting to see signs that market participants are abandoning their losers and pressing their shorts. When this occurs near all time highs it often means some pain is ahead for the major indexes. Here are some charts that serve as examples. First is NYSE New Highs / Lows. New lows have now risen above…
As the NYMEX close approached, front-month WTI Crude futures slumped towards a $48 handle – the lowest since early March, having firmly rejected the algo-driven rip after this morning’s inventory build and tiny production cut… Charts: Bloomberg
This morning’s release of the June Existing-Home Sales shows the highest sales in eight years to a seasonally adjusted annual rate of 5.49 million units from a slight downward revision of 5.32 million in May (previously 5.35 million). The Investing.com consensus was for 5.40 million. The latest number represents a 3.2% increase from the previous month and…
From mid-2012 until the beginning of 2014, US treasuries were in a steep decline (yield rising) in expectations of Fed rate hikes that never came. 2014 was a great year for treasury bulls, undoing the carnage of the previous year and then some. 30-year treasuries hit a record low yield. So far, 2015 has been…
