Subscribe in a reader Some observations on the S&P500 via weekly, hourly & 30 minute charts. Click on charts to expand images.
Thursday, February 16, 2012
S&P500 Technical Observations 2-16-12
Subscribe in a reader Some observations on the S&P500 via weekly, hourly & 30 minute charts. Click on charts to expand images.
Wednesday, February 15, 2012
Get Ready To Buy This Commodity Stock Soon....
Subscribe in a reader Freeport McMoran is looking attractive here around $40, look for a bounce to $48 for a 20% move. As posted on Twitter. Look for market rotation out of Apple and tech stocks back into commodity stocks. ITZ also likes Silver Wheaton $SLW.
+11.7% In 8 Days...Take Profits
Subscribe in a reader ITZ suggested Devon Energy on the 6th of this month, targeting $70+ link
The company reported Q4 earnings, even though they were lower, still beat the street. Read
ITZ suggests taking profits here at $71.50 for a 11.7% profit! Not bad in 8 days...
Tuesday, February 14, 2012
S&P 500 Observations
Subscribe in a reader Interesting observations on where the S&P500 is heading. ITZ view is that near term we could possibly see a 5% to 8% pullback, which would be bullish longer term. But longer term remains bullish on the markets.
ITZ posted a suggestion today to hedge a an equity portfolio via Proshares Ultra Short Pro S&P500 (SPXU) defining support & resistance levels.
CNBC's Jeff Cox explains whether the S&P can stay at the 1350 mark.
Jim Cramer of CNBC's Mad Money looks at the long term charts of the S&P 500.
Use This ETF To Protect Profits
Subscribe in a reader The market is starting to get tired here as ITZ has talked about in recent posts Read
ITZ suggests using the Proshares Ultra Pro Short S&P 500 ETF ticker symbol SPXU as a hedge to their equity positions. This is a short term hold, ITZ expects any pullback to be minor and to last for several days to a few weeks. SPXU is trading at $10.59, taking a full position. Upside target $12.00. Set STOP @ $10.25. ITZ is looking for 1275 downside support and 1365 resistance.
Friday, February 10, 2012
Charts: 50% Correction?!
Subscribe in a reader Katie Stockton, MKM Partners, and Abigail Doolittle, Peak Theories, chart the market's outlook, which indicates a serious correction in the next three to twelve months.
Transocean (RIG) Update 2-10-12
Subscribe in a reader Transocean (RIG) has had a nice run year to date...look to take some profits here/ or buy puts on positions. Recent news ... read
Wednesday, February 8, 2012
Is It Time To Take Some Money Off The Table?
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The Fast Money traders assess whether having a 100% stock portfolio is a smart money play.
Monday, February 6, 2012
New Energy Play
Subscribe in a reader ITZ is suggesting Devon Energy Corporation, together with its subsidiaries, engages in the acquisition, exploration, development, and production of natural gas and oil in the United States and Canada.Devon reports Q4 earnings on February 15th, ITZ is looking for EPS of $6.00 in 2011 and $6.60 in 2012,
DVN had repurchased $3.4 billion shares as part of a $3.5 billion program it expects to complete this year. In July, DVN raised capex plans by $1 billion to $5.5-$5.9 billion in 2011, within cash flows.DVN is currently trading at 5.6 times the trailing twelve-month earnings per share, a price to earnings ratio that is, however, 55.53% below the average of the Oil, Gas & Consumable Fuels industry.
DVN uses little or no debt in its capital structure and may have less financial risk than the industry aggregate. Cash collection is worsening, with 40.8 days worth of sales outstanding. Finally, this company holds approximately 24.6 days of inventory on its books.
DVN has sold $10 billion of assets in deepwater GOM (Gulf of Mexico), the GOM shelf, Brazil, and Azerbaijan, and sees after-tax proceeds of about $8 billion to fund onshore drilling, buy back shares, reduce debt and fund acreage acquisitions. It is running about 70 rigs, 59 in the U.S. and 11 in Canada.
Enter around $64. SET STOP $62...Price Objective $70
Sunday, February 5, 2012
How Much Further Can This Rally Go?
Subscribe in a reader Friday's BLS Nonfarm Payrolls jobs report, beat expectations and rallied the markets. Looks like we could head a retest last years highs. ITZ has become cautiously optimistic here.
Abigail Doolittle, Peak Theories Research, and Joseph Tanious, J.P. Morgan Funds, assess whether the Dow will sustain its move higher.
Back on December 8, 2011 ITZ highlight the WTI:TLT ratio chart >>LINK
Friday, February 3, 2012
Should Apple Trade At $1250?
Subscribe in a reader Should Apple trade at $1250? CNBC's Gary Kaminsky takes a look at what tech companies are worth based on Facebook's valuation.
Past ITZ Apple post
Tuesday, January 31, 2012
How Significant Is The Golden Cross?
Subscribe in a reader Everyone is talking about the Golden Cross occurring today. ITZ mentioned this a few weeks ago >>READ
Stocks formed the much-heralded "golden cross" on Tuesday, but traders are waiting to see if remains there at the close before calling it a sign of an uptrend....read more...
Taking another look at some recent Golden Cross and Death Cross periods in the chart below.
John Bollinger, Bollinger Bands.com, discusses the "golden cross" and the S&P 500, saying this is the perfect case of mismatching the tool and the task.
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