Friday, February 28, 2014

More Upside For BBRY

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ITZ noted the bullish chart back in October:


Now: Daily chart

 Weekly chart:

New Buy: MS

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Financials look good here, lets take a 1/2 position in Morgan Stanley (MS) entry $30.75- add on pullbacks.

Long Direxion ERY

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ITZ has entered the Direxion ETF Daily Energy 3X (ERY) having entered 1/4 position yesterday @ $20.65 & today @ $20.20. ITZ had been long the XLE via ERX entering a 1/2 position on 2/3/14 @ $71 and scaling out @ $84, $86 & $88.

Below is a 60 minute chart of the XLE.

Sunday, February 23, 2014

ITZ Weekend Update 2-23-14

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Follow up to last week's Weekend Update

Andrew Su, CEO at Compass Global Markets, explains why he thinks Wednesday's peak in oil prices are temporary and is expecting prices to recede to $95 a barrel by the end of the first-half.

Saturday, February 15, 2014

ITZ Weekend Update 2-15-14

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ITZ takes a look at the S&P500 & $CPCE; Gold & Silver Wheaton; the energy sector via ERX & crude oil/ SCO.

Gold & SLW link

SLW Price Objective $30

Energy: ERX link  SCO link



Sunday, February 9, 2014

ITZ Open Positions 2-9-14

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Markets rallied this week, even off a lousy Jobs Report.

AAPL Apple has repurchased $14 billion of its stock in the two weeks after its first-quarter financial results and second-quarter revenue outlook disappointed investors. Now testing 100ma.

ERX ITZ re-entered @ $71, reversal of ascending channel.

HIMX  Himax Technologies will report earnings on the 13th.... bank of America raised their PT from $15 to $20

LULU RBC upgraded with a PT of $56

SCO  WTI Crude Oil rallied Friday, testing $100 a barrel. ITZ re-entered Proshares Ultra Short Crude (SCO) LINK

Friday, February 7, 2014

Short WTI: SCO

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ITZ is taking a 1/2 position in Proshares Ultra Short Crude OIl ETF (SCO) @ $21 as crude tests $99

Saturday, February 1, 2014

Weekend Update: 2-1-14

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Signs of investors' rush to be seated in defensive areas of the market are clear. Nowhere is the shift to defensive stocks more clear than in the relative strength of the utilities sector. During times of uncertainly, investors move to utilities, which are known for their stable earnings and dependable dividends.

 The S&P 500 finished January down nearly 4%, the worst January performance since 2010. 
Carter Braxton Worth, chief market technician and managing director at Oppenhiemer & Company, noted recently on CNBC. He said the S&P 500, on average, finishes the year lower only 33% of the time. However, when January ends the month lower, the likelihood the S&P 500 ends lower for the year jumps to 58%.   In the February through December time period, the S&P 500 is up, on average, just 1.65% when the month of January ends lower. This compares to the average increase of 8.5% when January is positive. He reasoned that the S&P 500 looks likely to decline into the 1,600s. 

ITZ noted recently, on how markets performed the year after it had 30% gains--- LINK