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Showing Posts 81 - 90 out of 103 found.

ESH5: Facts Are Irrelevant – Only Perceptions Matter

ESH5: Facts Are Irrelevant – Only Perceptions Matter

Well that wasn't exactly what we expected. When we posted yesterday's outlook for the S&P 500 mini-futures (ESH5), the contract was trading just above 2022 in the overnight market, down 25 points from the high of the day. By the time you read it Thursday morning, the contract was trading above 2044, fully 20 points higher – before the “official” market opened – and was well on its way to...

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Oil, QE, Europe, And ETFs

Oil, QE, Europe, And ETFs

It is difficult to watch the market day in and day out and not pay attention to the plight of oil. This reality kindles in me a spark of compunction, a sense of regret that I, writing daily about the market movement, am compelled to write about oil. Actually, my reality is such that I must write about not only oil, but the other headlines that might, or might not, actually be the underlying...

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A Hedge On Oil Is A Good Idea

A Hedge On Oil Is A Good Idea

The moves in crude oil have grabbed everyone’s attention over the last few months. Since November, we have seen the price of crude move from near $80.00 a barrel to below $40.00. The debate whether lower priced crude is good for the economy continues. Recent bounces from the low also have many investors wondering if the “the bottom” is in, and if we will return to the higher levels we have...

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The Correction In AbbVie Stock Could Be Nearing An End

The Correction In AbbVie Stock Could Be Nearing An End

AbbVie (ABBV) shares, a $92B pharmaceutical company which has products that treat Crohn’s disease, Parkinson’s disease, thyroid disease, rheumatoid arthritis, and other chronic auto-immune diseases, are on pace for their seventh consecutive weekly loss. This week’s tumble comes after the $148B Gilead Science announced an increase in the amount of discounts to their Hep C drug, Sovalid, this...

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ESH5: Greek Debt Crisis Dumps US Equity Futures

ESH5: Greek Debt Crisis Dumps US Equity Futures

The S&P500 mini-futures (ESH5) were fighting their way higher and making a strong attempt at the 2050 overhead resistance area yesterday (Wednesday) afternoon. Then, the European Central Bank announced restrictions on Greek debt, and the US equity futures dumped 20 points in about 30 minutes. The futures closed at 2030, five points below the opening price, and a day that had been all...

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Futures Market Review and Forecast: The Floor Is Still Holding

Futures Market Review and Forecast: The Floor Is Still Holding

Both forecasts from yesterday played out. First, the S&P came within two points of the ceiling zone at 2051. Then, news from the ECB sparked an end-of-day sell off, triggering the expected re-test of the 2027 level, which is now underway.    Yesterday The presumption is that we now go up to test the 2051-2061 level from below. However, a second test of 2027 before attempting that major...

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Sail Past The Rocks, Leave The Siren Song Behind

Sail Past The Rocks, Leave The Siren Song Behind

Temptation … The word itself has a seductive quality, much like the market. Yup, I said it – the market has a seductive quality. For example, after a horrible week last week, the market comes back this week singing siren songs of breaking resistance. Yet, giving in to the seduction of a good week might just land you on the rocks, much like the fabled seduced sailors in ancient times. The...

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Where’s The Beef Going?

Where’s The Beef Going?

Last week we traded cash-cattle steady to a buck lower.  If one takes into consideration that box meat dropped around $20 from the top, I would say that cash-cattle trading a dollar lower is quite an achievement. The annual cattle-inventory report showed all cattle and calves 101% of last year.  This was contrary to the market potentially thinking we had not started expansion yet.   This...

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Oil And Stocks Rocket Up In Tandem – Who's In Charge?

Oil And Stocks Rocket Up In Tandem – Who's In Charge?

Oil has been ripping higher for the last three days, up about $8 a barrel since Thursday (Jan. 29), the biggest three-day surge in six years.  And for the last two days, it has been dragging the stock market with it. The SPX, the large-cap cash index, closed at 2050.03 on Tuesday (Feb. 3) after gaining 55 points in the past two days. The wailing you hear is from the shorts who, sucked in...

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Futures Market Review and Forecast: Indeed, the Floor Holds, Again!

Futures Market Review and Forecast: Indeed, the Floor Holds, Again!

Monday’s rally followed through, as expected, and managed to close well above the key 2027 level, after a brief morning test. That this level was surpassed, despite a large opening gap, reflects well on the bulls.  The presumption is that we now go up to test the 2051-2061 level from below. However, a second test of 2027 before attempting that major assault would not be at all surprising.   ...

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