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Expectations of QE from the ECB and FOMC in coming weeks should rally the metals
Tuesday, July 31, 2012
Monday, July 30, 2012
S&P500 Sell Signal
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ITZ was stopped out of the UPRO position today @ $79.50. Having entered 1/2 position 7/25 @ $72.50 & 1/4 position 7/26 @ $75.50, for a $6.00 +8.16gain.
Suggest taking a 1/4 position into Proshares Pro Short S&P500 ETF (SPXU) @ $44.50.
We could see the $SPX rise near term to 1400. ITZ will follow up with further position entry points.
ITZ was stopped out of the UPRO position today @ $79.50. Having entered 1/2 position 7/25 @ $72.50 & 1/4 position 7/26 @ $75.50, for a $6.00 +8.16gain.
Suggest taking a 1/4 position into Proshares Pro Short S&P500 ETF (SPXU) @ $44.50.
We could see the $SPX rise near term to 1400. ITZ will follow up with further position entry points.
click on chart to expand image
Sunday, July 29, 2012
S&P500 Nearing ITZ Target
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S&P500 is nearing ITZ 1390/1400 target, as per suggested trade, Proshares Ultra Pro S&P500 ETF (UPRO) -current stop set @ $79.50 LINK
S&P500 is nearing ITZ 1390/1400 target, as per suggested trade, Proshares Ultra Pro S&P500 ETF (UPRO) -current stop set @ $79.50 LINK
click on chart to expand image
Friday, July 27, 2012
ITZ - S&P500 Near Term Target
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Targeting, 1390-1400 near term for the S&P500 -- ITZ is playing this rally via Proshares Ultra Pro S&P500 ETF (UPRO) targeting $80-$81 having entered a 1/2 position @ $72.50 on 7/25 & a 1/4 position on 7/26 @ $75.50. Current STOP $77.50.
Targeting, 1390-1400 near term for the S&P500 -- ITZ is playing this rally via Proshares Ultra Pro S&P500 ETF (UPRO) targeting $80-$81 having entered a 1/2 position @ $72.50 on 7/25 & a 1/4 position on 7/26 @ $75.50. Current STOP $77.50.
click on chart to expand image
Starbucks gets Decaffed (SBUX)
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Starbucks (SBUX) said Thursday that it earned 43 cents per share for the quarter ended July 1, a number that fell two cents short of forecasts.
Revenue rose 13% to $3.3 billion, yet failed to match predictions.
The disappointing results, coupled with a warning from the firm's management about the current quarter, sent shares down by more than 10% after the opening bell Friday.
Starbuck's now expects to earn 44 to 45 cents per share in the fourth quarter, and $2.04 to $2.14 per share for the full year, with global economic conditions attributing to the lower expectations.
ITZ suggested entering SBUX on May 10th 2012 with a 1/2 position @ $54.50. LINK
Lets give SBUX some time here to see how things play out before adding to long term position.
Starbucks (SBUX) said Thursday that it earned 43 cents per share for the quarter ended July 1, a number that fell two cents short of forecasts.
Revenue rose 13% to $3.3 billion, yet failed to match predictions.
The disappointing results, coupled with a warning from the firm's management about the current quarter, sent shares down by more than 10% after the opening bell Friday.
Starbuck's now expects to earn 44 to 45 cents per share in the fourth quarter, and $2.04 to $2.14 per share for the full year, with global economic conditions attributing to the lower expectations.
ITZ suggested entering SBUX on May 10th 2012 with a 1/2 position @ $54.50. LINK
Lets give SBUX some time here to see how things play out before adding to long term position.
Thursday, July 26, 2012
ITZ PIX Update
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"ECB will do whatever it takes to preserve the euro," - Mario Draghi LINK
Markets rallying on Draghi's comments this morning... ITZ entered the Proshares Ultra Pro S&P500
ETF (UPRO) yesterday, taking a 1/2 position @ $72.50. Lets add to that position this morning by a 1/4 position nad wait to see how things play out before adding the remaining 1/4 position.
ITZ was stopped out of the Proshares Ultra Crude Oil ETF (UCO) yesterday @ $29.00. Noting that the daily Gold:Oil Ratio was giving a sell signal, while the shorter term 8 hour chart a buy signal. ITZ had been watching that $89 level on WTI crude oil the neckline and throwback pivot area ($89/$88). Futures have oil breaking higher this morning around $89.90. Lets take a 1/4 position on UCO here around $30.45ish.
Here are the current suggested buys over the last few months on ITZ PIX:
SLW 1/2 position on 4/17 $30; 1/4 position on 5/8 $26.75; 1/4 position 5/9 @ $26.75
FCX 1/2 position 4/5 @ $38 & 1/2 on 5/14 @ $34.80
AAPL 1/4 on 4/24 @ $559; 1/4 on 5/17 @ $539; 1/4 on 7/23 @ $588; 1/4 on 7/25 @ $572
QCOM 1/4 on 4/24 @ $61.40; 1/4 on 5/17 @ $58.80; 1/4 on 5/17 @ $57
SBUX 1/2 on 5/10 @ $54.50
UPRO 1/2 on 7/25 @ $72.50
"ECB will do whatever it takes to preserve the euro," - Mario Draghi LINK
Markets rallying on Draghi's comments this morning... ITZ entered the Proshares Ultra Pro S&P500
ETF (UPRO) yesterday, taking a 1/2 position @ $72.50. Lets add to that position this morning by a 1/4 position nad wait to see how things play out before adding the remaining 1/4 position.
ITZ was stopped out of the Proshares Ultra Crude Oil ETF (UCO) yesterday @ $29.00. Noting that the daily Gold:Oil Ratio was giving a sell signal, while the shorter term 8 hour chart a buy signal. ITZ had been watching that $89 level on WTI crude oil the neckline and throwback pivot area ($89/$88). Futures have oil breaking higher this morning around $89.90. Lets take a 1/4 position on UCO here around $30.45ish.
Here are the current suggested buys over the last few months on ITZ PIX:
SLW 1/2 position on 4/17 $30; 1/4 position on 5/8 $26.75; 1/4 position 5/9 @ $26.75
FCX 1/2 position 4/5 @ $38 & 1/2 on 5/14 @ $34.80
AAPL 1/4 on 4/24 @ $559; 1/4 on 5/17 @ $539; 1/4 on 7/23 @ $588; 1/4 on 7/25 @ $572
QCOM 1/4 on 4/24 @ $61.40; 1/4 on 5/17 @ $58.80; 1/4 on 5/17 @ $57
SBUX 1/2 on 5/10 @ $54.50
UPRO 1/2 on 7/25 @ $72.50
Wednesday, July 25, 2012
Apple Misses Earnings...Now What?
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Apple missed Q3 2012 earnings coming in at $9.32 versus estimates of $10.23. While it exceeded its own conservative guidance, it failed to meet analyst expectations. Apple generated revenue of $35.0 billion and reached a quarterly net profit of $8.8 billion, or $9.32 per share. Margins were strong at 42.8%. All of these numbers are up compared to the year-ago period. Apple's Q3 Earnings Report
During its third quarter, Apple sold 17 million iPads. That represents a massive 84% increase compared to the year-ago period and sets a new quarterly record for Apple's tablet. It also sold 26 million iPhones, 4 million Mac computers, 6.8 million iPods, and 1.3 million Apple TVs.
Prior to 4S release 10/18/11 Q4 '11 earnings missed as well. $7.05 versus est of $7.38. The stock declined 14.4%. But the following quarter they blew away earnings $13.87 versus estimates of $10.20 and the stock rallied 45% in coming weeks.
Thus far for '12 Apple has earned $35.49, ITZ has a $50 full year target. Meaning it needs to come in with a $14.51 number in 3 months. Well Q1 2011 was $13.87 , thus ITZ believes it can beat it for Q4 '12.
ITZ maintains it's $750 price target as noted in a March blog post READ
Apple missed Q3 2012 earnings coming in at $9.32 versus estimates of $10.23. While it exceeded its own conservative guidance, it failed to meet analyst expectations. Apple generated revenue of $35.0 billion and reached a quarterly net profit of $8.8 billion, or $9.32 per share. Margins were strong at 42.8%. All of these numbers are up compared to the year-ago period. Apple's Q3 Earnings Report
During its third quarter, Apple sold 17 million iPads. That represents a massive 84% increase compared to the year-ago period and sets a new quarterly record for Apple's tablet. It also sold 26 million iPhones, 4 million Mac computers, 6.8 million iPods, and 1.3 million Apple TVs.
Prior to 4S release 10/18/11 Q4 '11 earnings missed as well. $7.05 versus est of $7.38. The stock declined 14.4%. But the following quarter they blew away earnings $13.87 versus estimates of $10.20 and the stock rallied 45% in coming weeks.
Thus far for '12 Apple has earned $35.49, ITZ has a $50 full year target. Meaning it needs to come in with a $14.51 number in 3 months. Well Q1 2011 was $13.87 , thus ITZ believes it can beat it for Q4 '12.
ITZ maintains it's $750 price target as noted in a March blog post READ
click on chart to expand image
S&P 500 & Crude Oil Reversal Higher
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ITZ takes a look at two cahrts this morning, the S&P500 8 hour & the NYMEX crude oil. Apple missed estimated earnings and is selling off, but BA & CAT beat, bullish for the $SPX.
The S&P500 has been in an ascending channel with 1350 & 1330 support trendlines. The chart looks bullish near term and ITZ like trading via Proshares UPRO around $44.50.
WTI Crude Oil sold off the last several weeks and has set up and Inverted Head & Shoulders pattern. ITZ was looking for a throwback to the neckline around $89, we got $88. Lets see if a rally in the S&P500 can push oil higher. Trade WTI crude oil via Proshares UCO around $29.50
ITZ takes a look at two cahrts this morning, the S&P500 8 hour & the NYMEX crude oil. Apple missed estimated earnings and is selling off, but BA & CAT beat, bullish for the $SPX.
The S&P500 has been in an ascending channel with 1350 & 1330 support trendlines. The chart looks bullish near term and ITZ like trading via Proshares UPRO around $44.50.
click chart to expand image
WTI Crude Oil sold off the last several weeks and has set up and Inverted Head & Shoulders pattern. ITZ was looking for a throwback to the neckline around $89, we got $88. Lets see if a rally in the S&P500 can push oil higher. Trade WTI crude oil via Proshares UCO around $29.50
See Update On Position Below In Comments
Sunday, July 22, 2012
Friday, July 20, 2012
WTI Crude Oil Pullback
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China National Petroleum in Talks Over $12.5 Billion Refinery link
US Oil Ends at $91 as Europe's Debt Problems Return link
more crude oil charts link
click chart to expand image
China National Petroleum in Talks Over $12.5 Billion Refinery link
US Oil Ends at $91 as Europe's Debt Problems Return link
more crude oil charts link
Thursday, July 19, 2012
Crude Oil Break Out
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WTI Crude Oil has broken out on an Inverted Head & Shoulders pattern. News out of the Middle East, geopolitical tensions are driving it higher. Near term some indicators are overbought & we could see a pullback, which should be bought. ITZ prefers using the Proshares ETFs both UCO (long) & SCO (short) to trade crudes movement.
Past ITZ Oil Post
WTI Crude Oil has broken out on an Inverted Head & Shoulders pattern. News out of the Middle East, geopolitical tensions are driving it higher. Near term some indicators are overbought & we could see a pullback, which should be bought. ITZ prefers using the Proshares ETFs both UCO (long) & SCO (short) to trade crudes movement.
Past ITZ Oil Post
click on chart to expand image
Wednesday, July 18, 2012
Markets Set To Break Out?
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As mentioned yesterday link, the market is at a pivotal point, will it break higher or have a near term pullback? ITZ takes a closer look....
As mentioned yesterday link, the market is at a pivotal point, will it break higher or have a near term pullback? ITZ takes a closer look....
click on charts to expand images
Tuesday, July 17, 2012
Bernanke Moves Markets
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Chairman Ben S. Bernanke Semiannual Monetary Policy Report to the Congress LINK
Chairman Ben S. Bernanke Semiannual Monetary Policy Report to the Congress LINK
Past $SPX charts link
Monday, July 16, 2012
Is Crude Oil Set To Break Higher To $100?
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WTI crude oil is moving higher on news out of Dubai today.
US Navy ship kills 1 after firing at boat off Dubai read
Over the last 6 weeks oil has been setting up an Inverted Head & Shoulders pattern as annotated in the 8 hour chart below. ITZ is playing oil longer term via Proshares Ultra Crude Oil etf (UCO)
WTI crude oil is moving higher on news out of Dubai today.
US Navy ship kills 1 after firing at boat off Dubai read
Over the last 6 weeks oil has been setting up an Inverted Head & Shoulders pattern as annotated in the 8 hour chart below. ITZ is playing oil longer term via Proshares Ultra Crude Oil etf (UCO)
click on chart to expand image
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