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Stock #Market Recap 11/10/14 {Video}

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Enjoy tonight’s video, and enjoy your evening. 

Direct Vimeo Link Click Here

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Nobody Ever Asks, “How’s the Volume?’


Instead, it is always (including me) asking, “where’s the volume?”

Volume was rather light today, as the market grinded a bit higher. The bond market is closed tomorrow, and volume may be even lighter in equities.  Metals and miners gave some a chunk of Friday’s gains, while crude oil is finishing out on the lows.

Setups are still few and far between for swings.

More in my video market recap after the bell.

See you there.

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Good Consumer, Bad Consumer


Further cementing the many mixed signals in the market would be the spreads we are seeing in consumer-related stocks.

On the one hand, beaten-down high end auction house Sotheby’s is finally staging a strong rally today. The first daily chart, below, indicates as much with price breaking a steep resistance downtrend line for 2014 heretofore.

On the other hand, Ford is still a short setup and weak, once again, today. On the second daily chart, note the bear continuation pattern still in play.

Which one is telling the truth about where consumer discretionary stocks go from here? I do not think anyone knows that answer for sure. So, for now, the setups are on an individual basis, on their own merits with Ford still a short.

Also be on watch to see if Sotheby’s gets rejected this week by its declining 200-day moving average (yellow line on first chart).






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Update on a Long-Term Investment Idea


I first suggested Wal-Mart as a long-term investment idea back in this post in October 2011.

At the time, the stock was thought to be on the cusp of becoming a creative destruction victim and trading in the low-$50′s.

The updated monthly chart, below, shows the potential for another imminent leg higher, despite all of the talk about the firm becoming obsolete or marginalized in a new, online world. I think you can make an add after earnings, barring no massive move either way.

So, would another breakout in Wal-Mart make it bullish for the market at-large? Not necessarily, if you look back at the stock’s strong rally in the first half of 2008. More on that in one of my videos this week.

The firm reports earnings this Thursday, November 13th.

Regarding a few other long-term investments: CPL PKX have been laggards but not quite at the point where I am cutting them yet. I also have a few consumer staples still in the long-term portfolio.

All in all, though, my long-term investment portfolio still has the highest level of cash on hand since 2009.



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Five Stocks Correlated with the Peak of Fall Foliage Season


Courtesy of The PPT algorithm, here are the most current top five readings from my “12631 RELATIVE STRENGTH” custom-made screen, identifying which stocks are exuding some of the best performances to the market at-large at any given moment.

I look for stocks whose Daily PPT Hybrid Score surges, while the Weekly Hybrid has been negative over the past week. This can often yield stocks which are emerging from consolidations.

Members can click here to view and save the screen.

Sorted for at least 500,000 shares of daily average volume to ensure liquidity.

Please click on image to enlarge.



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The Quest to Find Footing


Throughout the miners’ complex, precious and otherwise, we are seeing some pullbacks to 30-minute trend support this morning after sharp rallies late-last week.

One of my holdings, coal miner Peabody, is a good example. I scaled partial profits on Friday from the name but retain a small position left (2% of my portfolio).

On the 30-minute chart, below, note the potential to come down to trend support on this timeframe.

Indeed, miners’ bulls are going to have to prove their case this week and be willing, for a change, to step in front of pullbacks as miners attempt to find some footing for at least a tradable rally.

What are you trading this morning?



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