The primary indices in the U.S. finished mixed last session. The Dow Jones
Industrial Average closed last session green, but the Nasdaq and the S&P 500
closed out in the red. The Dow Jones Industrial Average finished the session
green by 25.43 at 11,796.16. The Nasdaq finished red by .60 percent at 2,572.50
and the S&P 500 finished the session red by .48 at 1,215.65. Overall, stocks
sunk lower during the latter half of the last week after a generally choppy week
of trends. Investors are having difficulty processing the developments in the
eurozone. Investors and indices continue to feel the negative pressure stemming
from the unsettling developments. Primary indices in the eurozone closed out red
last session, due in part, to the negative weight of the ongoing debt crisis.
Rising bond yields around Europe are holding investors attention and keep
anxieties high. Investors perceive 7 percent yields as negative since these
levels have indicated a need for bailout action in the past. The higher bond
yields in the eurozone were enough to counteract the positive momentum that
would have been due to the positive batch of economic reports that posted in the
U.S. throughout the last trading week. Ultimately, the three primary stock
indices in the U.S. closed the last week lower overall. It is unlikely that any
action will present this week in the U.S., prior to Thanksgiving break, to pull
all three indices to the positive side of break-even. Frank Matto
Saturday, November 19, 2011
The S&P Is Due for a Breakout
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tdp2664 InvestorPlace Does the resilience against lower prices and the strong rally from the October lows mean that a bear market has been averted? Will the recent sideways trading (there’s a reason to the market’s madness — more about this in a moment) lead to a breakout or breakdown? Understanding the Rally The rally from the Oct. 4 low at S&P 1,075 was no surprise because it came as a surprise. In other words, investors were expecting lower prices and had already sold all their positions. Investors should have expected the unexpected from the market. When the selling activity is exhausted, it’s easy for buyers to come in and lift prices. The Sept. 23 ETF Profit Strategy Newsletter stated that: “Investment advisors polled by II and retail investors polled by AAII are already more bearish now than they were at the June lows. The working assumption is that investors’ bearishness signals a looming bottom. Any drop below 1,088 may mark the end of the 2011 bear market leg.” A quick intraday dip below 1,088 was the springboard that sent the S&P higher like a hot kernel of corn in the popcorn popper. The S&P popped right into the 1,275 to 1,300 target range. A Whole Lot of Nothing The S&P’s most recent high was at 1,293 on Oct. 27. Since then, stocks have more or less done nothing. At first glance, the choppy up and down movement recently seems arbitrary with no rhyme or reason. However, the market always has a purpose and a battle plan. The Oct. 14 ETF Profit Strategy Newsletter described the market’s agenda as follows: “Ironically the S&P had to break into bear market territory (a 20% decline) before staging the biggest rally in months. It will take more gains and more time to bait and switch more investors back into stocks. This process may take several months of grinding trading activity with an up side bias.” Yes, the purpose of this rally/range-bound trading is to suck as many investors back into the market as possible. Nothing stirs up the “darn, I’m missing the next rally” feeling like rising prices. Just as extreme pessimism tends to mark a bottom, extreme optimism tends to mark a top. So, watch out for those sentiment extremes. The Triangle A look at the chart below shows that the S&P is tracing out a pretty clean triangle. Click to Enlarge The red line is resistance, the green line is support. A break above the red line would foreshadow a breakout with higher prices, while a break below the green line would foreshadow a breakdown. My educated guess is that the S&P will break to the upside — the VIX to the downside. Here are a few of reasons why: Seasonality: November and December carry a bullish seasonal bias. Presidential election-year cycle: The pre-election year (2011) is the strongest performer of the four-year cycle. Mini QE2 rally. The current rally seems like a miniature version of the 2007-2011 rally. A bit higher and the S&P will have retraced the same Fibonacci percentage as it did in May 2011. Earlier this year, this important Fibonacci resistance coincided with a massive 10-year-plus trend line and a multi-decade head and shoulders formation. That’s why the Apr. 2 ETF Profit Strategy update warned that: “In terms of resistance levels, the 1,369 to 1,382 range is a strong candidate for a reversal of potentially historic proportions.” The current Fibonacci resistance doesn’t coincide with any other trend lines, but the downside potential is as high as it was earlier this year. The next big opportunity will be to go short once Fibonacci resistance is reached or support is broken. This article is brought to you by ETFguide.com. ETFguide is the information leader on exchange-traded funds because of its vendor-neutral approach and its progressive reporting style. Unique features include an ETF bookstore, a monthly e-mail newsletter, and subscription based ETF portfolios. The ETF Profit Strategy Newsletter keeps close track of the S&P 500 and identifies various technical conditions along with support/resistance levels that tend to trigger big moves and profitable trades. Updates and easy-to follow buy/sell recommendations are issued at least twice a week.
IBM (NYSE:IBM) Health Analytics Released
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tdp2664 E money daily IBM (NYSE:IBM) has released new health care analytics software. IBM (NYSE:IBM) Health Analytics Released The technology giant IBM (NYSE:IBM) has brought out new health care analytics software to reduce hospital risks. The new analytics software utilizes technology comparable to that of the Watson supercomputer to assist doctor's spot patient tendencies and get better care. In an official statement IBM (NYSE:IBM) said that, "Big Blue has developed the application to help the health care industry reduce hospital admissions. The company announced the new software on Oct. 25." IBM (NYSE:IBM) shares are currently standing at 185.73. Price History Last Price: 185.73 52 Week Low / High: 141.28 / 190.53 50 Day Moving Average: 179.26 6 Month Price Change %: 9.5% 12 Month Price Change %: 31.2%
Randgold Resources Earnings Review: 17 Days after Announcement Shares Down 2.4% (GOLD)
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gol2664 Negocioenlinea Randgold Resources Earnings Review: 17 Days after Announcement Shares Down 2.4% (GOLD) Financial News Network Online – 1 hour ago Two weeks ago on November 2nd, 2011 Randgold Resources (NASDAQ:GOLD) reported earnings and analysts, on average, expected earnings of $1.39 on sales of $331.5 million. The company actually …
Highest Yielding Canada Stocks
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dow2664 In spite of the fact that Standard & Poor’s has lowered the rating on United States debt, Canada seems to be in good shape as Moody’s has reaffirmed Canada’s rating of AAA a few months ago. Probably because the banking crisis and housing crisis hasn’t affected Canada as much as the US. For income investors looking for diversification, Canada has over a dozen stocks with yields in excess of 3% according the recently updated free list of top yielding Canadian stocks at WallStreetNewsNetwork.com. Rogers Communications Inc. (RCI), a Toronto based communications and media company, yields 3.9% and trades at 11 times forward earnings. The company has increased dividends every quarter since 2008. Canadian National Railway Company (CNI) has a network of about 20,600 miles of track that spans Canada and middle America, from the Atlantic and Pacific oceans to the Gulf of Mexico. It sports a yield of 1.7% and trades at 14 times forward earnings. TransCanada Corp. (TRP) is a Calgary based oil and gas pipeline company which yields 4.2%. The stock trades at 17 times forward earnings. In the financial sector, Royal Bank of Canada (RY) is one of Canada’s major banks, based in Toronto, Ontario and provides a favorable yield of 5%. The stock trades at 9 times forward earnings. For a list of over fifteen high yield Canada stocks , which can be downloaded, sorted, and updated, go to WallStreetNewsNetwork.com. Disclosure: Author did not own any of the above at the time the article was written. By Stockerblog.com
Wal-Mart Stores Inc. (NYSE:WMT) To Offer Free Shipping
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tdp2664 E money daily Wal-Mart Stores Inc. (NYSE:WMT) has announced free home shipping on all electronics this holiday season. Wal-Mart Stores Inc. (NYSE:WMT) To Offer Free Shipping The retail giant Wal-Mart Stores Inc. (NYSE:WMT) has provided a big gift to customers this season with free home shipping on all electronics over $45. This offer started today, and will be available now through December 19 at Walmart.com. Joel Anderson, president and CEO of Walmart.com, said that, "Our customers are stretched for time and dollars this season and we want to give them incredible shipping savings on the gifts they want most. With free shipping to home on electronics gifts at Walmart.com, along with our free shipping to more than 3,800 Wal-Mart stores across the U.S., we can save customers more time and money to help make Christmas even easier for their families." Wal-Mart Stores Inc. (NYSE:WMT) shares were at 56.73 at the end of the last day’s trading. There’s been a 10.0% change in the stock price over the past 3 months. Wal-Mart Stores Inc. (NYSE:WMT) Analyst Advice Consensus Opinion: Moderate Buy Mean recommendation: 2 (1=Strong Buy, 5=Strong Sell) 3 Months Ago: 1.88 Zack’s Rank: 2 out of 15 in the industry
Top Oversold U.S.-Listed Chinese Stocks: CCSC, EDU, CYOU, November 17, 2011, SOL, HMIN, AMAP, KH, ASIA, JASO (Nov 18, 2011)
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tdp2664 China Analyst Below are the latest oversold U.S.-listed Chinese stocks. Many of them are likely to rebound in the next trading day. Country Syl Ckng Restaurant Chain Co Ltd (NYSE:CCSC) is the most oversold U.S.-listed Chinese stock on Nov. 18. It was down 12.2% on the day. CCSC's upside potential is 3.5% based on brokerage analysts' average target price of $12.12. It is trading at 41.2% of its 52-week high of $28.40, and 28.3% above its 52-week low of $9.13. New Oriental Education & Tech Grp (ADR) (NYSE:EDU) is the second most oversold U.S.-listed Chinese stock on Nov. 18. It was down 8.5% on the day. EDU's upside potential is 54.9% based on brokerage analysts' average target price of $35.30. It is trading at 65.5% of its 52-week high of $34.77, and 10.5% above its 52-week low of $20.61. Changyou.com Limited(ADR) (NASDAQ:CYOU) is the third most oversold U.S.-listed Chinese stock on Nov. 18. It was down 7.9% on the day. CYOU's upside potential is 81.8% based on brokerage analysts' average target price of $42.88. It is trading at 45.3% of its 52-week high of $52.00, and 3.4% above its 52-week low of $22.81. Jiayuan.com International Ltd (NASDAQ:DATE) is the fourth most oversold U.S.-listed Chinese stock on Nov. 18. It was down 5.9% on the day. DATE's upside potential is 85.8% based on brokerage analysts' average target price of $15.22. It is trading at 50.8% of its 52-week high of $16.12, and 22.2% above its 52-week low of $6.70. ReneSola Ltd. (ADR) (NYSE:SOL) is the fifth most oversold U.S.-listed Chinese stock on Nov. 18. It was down 5.1% on the day. SOL's upside potential is 70.3% based on brokerage analysts' average target price of $2.86. It is trading at 12.7% of its 52-week high of $13.25, and 15.1% above its 52-week low of $1.46. Home Inns & Hotels Management Inc. (ADR) (NASDAQ:HMIN) is the sixth most oversold U.S.-listed Chinese stock on Nov. 18. It was down 5.0% on the day. HMIN's upside potential is 53.7% based on brokerage analysts' average target price of $47.69. It is trading at 61.9% of its 52-week high of $50.13, and 40.5% above its 52-week low of $22.09. AutoNavi Holdings Ltd (ADR) (NASDAQ:AMAP) is the seventh most oversold U.S.-listed Chinese stock on Nov. 18. It was down 4.9% on the day. AMAP's upside potential is 115.4% based on brokerage analysts' average target price of $22.83. It is trading at 51.8% of its 52-week high of $20.46, and 3.8% above its 52-week low of $10.21. China Kanghui Holdings (ADR) (NYSE:KH) is the eighth most oversold U.S.-listed Chinese stock on Nov. 18. It was down 3.8% on the day. KH's upside potential is 67.1% based on brokerage analysts' average target price of $24.75. It is trading at 55.9% of its 52-week high of $26.50, and 0.0% above its 52-week low of $14.81. AsiaInfo-Linkage, Inc. (NASDAQ:ASIA) is the ninth most oversold U.S.-listed Chinese stock on Nov. 18. It was down 3.7% on the day. ASIA's upside potential is 104.2% based on brokerage analysts' average target price of $17.44. It is trading at 37.3% of its 52-week high of $22.91, and 37.5% above its 52-week low of $6.21. JA Solar Holdings Co., Ltd. (ADR) (NASDAQ:JASO) is the 10th most oversold U.S.-listed Chinese stock on Nov. 18. It was down 3.7% on the day. JASO's upside potential is 100.3% based on brokerage analysts' average target price of $3.14. It is trading at 18.3% of its 52-week high of $8.57, and 7.5% above its 52-week low of $1.46.
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