Ok, so Wednesday’s column from Cameron Crise is good. One of the things Cameron is particularly adept at is pissing off Jeff Gundlach. But another thing he’s good at is taking a simple, readily observable dynamic, breaking it down, looking more closely at the numbers, and just generally fleshing it out. Here’s the readily observable dynamic: Spot the odd one out since the election. Again, that’s as 30,000-foot–ish as possible on purpose. That is, it’s just the simplest way of visually communicating the fact that equities (at least at the benchmark level, although if you look under the hood the picture isn’t as pretty) are still...
Thermo Fisher Scientific Inc. (TMO – Free Report) recently completed the buyout of Patheon N.V. Notably, Patheon is a leading contract development and manufacturing organization (CDMO) serving the pharmaceutical and biotechnology sectors. With the closing of the deal, Patheon will be part of Thermo Fisher’s Laboratory Products and Services segment. Thermo Fisher’s initial tender offer for Patheon expires after closing of the deal at $35.00 per share in cash. Patheon generated approximately $1.9 billion revenues in fiscal 2016. Per Thermo Fisher, the collaboration should significantly strengthen its unique value propos...
World markets are still churning, much like Hurricane Harvey…watch for, either a breach of the 50-day moving average, or a retest of 1950 and potential breakout to new highs, as shown on the following Daily chart of the World Market Index. ...
Word is that Hurricane Harvey will end up being the most expensive natural disaster in U.S. history. According to AccuWeather, the estimate for the full cost of the storm will approach $160 billion. To put this number in perspective, Harvey is expected to cost about the same as the combined costs of Hurricanes Katrina and Sandy. Due to the fact that Harvey hit Houston, there will be an economic impact. Analysts are already reducing their estimates for Q3 GDP with AccuWeather suggesting that growth will be reduced by 0.8%. However, the problem is that the true impact of the storm won’t be felt for months as reports argue that Houston won’t...
Last Wednesday, I wrote about the failure of the Trump presidency, arguing that Donald Trump has failed to deliver any signs that tangible economic benefits are coming down the pike for his working class and blue collar base of support. In fact, this week, it seems more likely that Trump has ‘sold out’ and is turning to corporate tax cuts at the expense of middle class tax relief. Some comments below. Until recently, I believed there was some hope that middle class Americans could expect some boost to their take-home pay in the form of tax cuts as a result of fiscal changes in Washington. I no longer believe this. Two weeks ago, I was on...
Mounting geo-political tensions with North Korea and the recent increase in market volatility has continued to fuel demand for the perceived safety of gold with prices continuing to plow higher since early-July. Weakness in the greenback has also contributed to the rally with bullion prices up more than 14% year-to-date. That said, we’re now approaching a region of technical resistance which may cap the advance near-term. Gold Daily Chart Technical Outlook: Gold tested a critical resistance confluence yesterday at 1321/25– a region defined by the 78.6% retracement of the 2016 decline and the 61.8% extension of the advance off the ...
Bob Evans Farms, Inc. (BOBE) reports that it is well positioned to continue driving robust growth of their refrigerated sides portfolio with the additional capacity and product capabilities provided through the acquisition of Pineland Farms on May 1, 2017. About Bob Evans Farms, Inc. Bob Evans Farms is a leading producer and distributor of refrigerated potato, pasta and vegetable-based side dishes, pork sausage, and a variety of refrigerated and frozen convenience food items under the Bob Evans and Owens brand names. First Quarter FY 2018 Results (as compared to the comparable period last year) Net sales: UP 27.1% to $109.3 million (UP 11.1...
The Power of the Pattern has shared several times on this blog, that a bullish pattern had formed in Ole Doc Copper. With the bullish pattern in play, we shared with our members and on the blog that Freeport McMoran looked to be a good asset to own a couple of months ago. FCX had formed one of our favorite bullish patterns (bullish falling wedge), where two-thirds of the time and upside rally takes place. This pattern also allows one to set tight stops in case of a breakdown. We wanted to update viewership of the blog and the action that was taken on FCX, as the position was closed this week. FCX was purchased as it looked to be at the ap...
My Swing Trading Approach I’m choosing to stay flexible with my portfolio with a mixture of long and short setups. I don’t have a high degree of trust in this market, so maintaining the ability to flip the portfolio folio in either direction is key here. Indicators VIX – Same story every day – start higher, finish lower. Traded initially in the 14’s, and finished at 11.70. T2108 (% of stocks trading below their 40-day moving average) – Breadth was poor yesterday with a 3% decline on the indicator and now only 37% of stocks trading above their 40-day MA. Moving averages (SPX): Finished the day back a...
Consumer confidence registered its second consecutive monthly gain in August, indicating that a strong basis for higher expenditure prevails. The Conference Board’s index increased to its second-highest level in 17 years. Consumers’ assessment of current conditions also surged to a record level. Economists have attributed consumers’ new-found confidence to strong labor and equity markets. Steady increase in housing prices is also indicative of an increase in purchasing power. Economists believe that the report suggests that consumption expenditure will continue to increase in the third quarter, which makes this a good time to pick c...