ES putting in a base, divergences abound. The big wild card is the abnormal volume... will the pattern continue when the floodgates are opened again? :eek:
JC Penny (JCP) has stepped up their discounting / promotional activities (after making a strategic shift away from this type of marketing earlier this year). Analysts believe the move indicates JCP has too much inventory heading into the holiday season. Will be interesting to see if Macy's, Dillards and / or Nordstrom winds up taking similar steps or if this is a company-specific issue...
Pfizer Inc. (PFE) posted weak revenue and lowered guidance. Revenue from prescription drugs dropped 18% and 4 of 5 segments were below expectations (AP) Forward expectations may turn out to be too optimistic, which means PFE's multiple could contract significantly - at the same time projected EPS declines. Given the long-term run and complacency of shareholders, PFE could be vulnerable to a long-term decline - possibly breaking $20 as capital rotates out.
USD breaking out... and gold looks like crap... via http://www.mercenarytrader.com/2012/11/corleone-market/
Thanks for giving information and updating post. I'm new to the trading. So I like to get knowledge from genies in this field.
Semis (SMH) stone-cold rejected on Friday... downside followthrough this risk-laden election week? Via http://www.mercenarytrader.com/2012/11/obama-pocket-kings-romney-pocket-queens/
Transocean appears to be benefitting from E&P shift from land to sea wells. Company reports backlog increased nearly 40% over the last quarter. Technically, a breakout on the weekly chart for RIG would be a significant event - and with the stock trading at roughly 10X EPS, there is plenty of room for multiple expansion if growth assumptions continue to improve...
Interesting divergence between Silver Wheaton and the precious metal spot price... Sustained lower silver prices could dramatically affect investor's expectations for SLW. Even though the company doesn't have the risk of owning and operating mines, lower revenues and tighter margins could send the stock plummeting. Last week SLW broke out of a tight formation, but that breakout is now decidedly broken. Watch support between $36 and $38 - and consider shorting a breakdown...